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.

MoreLess

Year of publication:	2014
Authors:	Hedges, Jules ; Oliva, Paulo ; Winschel, Evguenia ; Winschel, Viktor ; Zahn, Philipp
Publisher:	Mannheim : University of Mannheim, Department of Economics
Subject:	behavioral economics \| social preferences \| beauty contest \| higher order functions \| quantifiers \| selection functions

More details

Series:	Working Paper Series ; 14-14
Type of publication:	Book / Working Paper
Type of publication (narrower categories):	Working Paper
Language:	English
Other identifiers:	861923790 [GVK] hdl:10419/129567 [Handle] RePEc:mnh:wpaper:36179 [RePEc]
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:	EconStor

Persistent link: https://www.econbiz.de/10011441850