Author： Puppe C.
Publisher： Academic Press
ISSN： 0022-0531
Source： Journal of Economic Theory, Vol.68, Iss.1, 1996-01, pp. : 174-199
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Abstract
The paper axiomatically characterizes a notion of "freedom of choice." The central condition considered in this paper is the following. In every non-empty opportunity set there exists at least one alternative such that its exclusion would reduce an agent 's freedom. It turns out that this condition induces a formal structure which is familiar from the theory of revealed preference. Under a somewhat different interpretation, some well-known rationality conditions are used to characterize models of freedom. Furthermore, a link is established between the notion of "preference for freedom" and Kreps' concept of "preference for flexibility." Journal of Economic Literature Classification Number: D71.
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