Lexicographic measurement of the information contained in opportunity sets

摘要

An individual who has to choose one item from an opportunity set or menu may lack complete information about the final consequences attached to her choice. This problem has been modeled by Bossert (2000) who introduces an axiomatic approach to the ranking of menus according to their informational content. We propose a different ranking based on the lexicographic ordering on the vectors of numbers of consequences for each item and characterize it axiomatically.