A new perspective on classical choice problems using selection functions

Jules Hedges, Paulo Oliva, Evguenia Winschel, Viktor Winschel and Philipp Zahn

No 14-14, Working Papers from University of Mannheim, Department of Economics

Abstract: 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.

Keywords: behavioral economics; social preferences; beauty contest; higher order functions; quantifiers; selection functions (search for similar items in EconPapers)
JEL-codes: C0 D01 D03 D63 D64 (search for similar items in EconPapers)
Date: 2014
New Economics Papers: this item is included in nep-cbe, nep-dcm and nep-hme
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:mnh:wpaper:36179

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