A New Perspective on Classical Choice Problems Using Selection Functions

We use quantifiers and selection functions to generalize the classical economic approach to choice. Our framework encompasses preference and utility based approaches as special cases, but also extends to non-maximizing behavior and context-dependent motives such as social concerns. We adapt the method of quantifiers and selection functions which is based on higher-order functions and originate in computer science.

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Year of publication:	2014
Authors:	Hedges, Jules ; Oliva, Paulo ; Winschel, Evguenia ; Winschel, Viktor ; Zahn, Philipp
Institutions:	Abteilung für Volkswirtschaftslehre, Universität Mannheim
Subject:	behavioral economics \| social preferences \| beauty contest \| higher order functions \| quantifiers \| selection functions

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Series:	Working Papers.
Type of publication:	Book / Working Paper
Notes:	Number 14-14
Classification:	C0 - Mathematical and Quantitative Methods. General ; D01 - Microeconomic Behavior: Underlying Principles ; D03 - Behavioral Economics; Underlying Principles ; D63 - Equity, Justice, Inequality, and Other Normative Criteria and Measurement ; D64 - Altruism
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10010833232