Abstract

ROSAS SANCHEZ, Gabriel Alberto  and  VERA GOMEZ, Ernesto Xavier. Social algorithm of choice: alternative to neoclassical determinism. Rev.econ.inst. [online]. 2024, vol.26, n.50, pp.105-128.  Epub Mar 11, 2024. ISSN 0124-5996.  https://doi.org/10.18601/01245996.v26n50.05.

Neoclassical economics has established itself as the discipline of rational choice. Consequently, under methodological individualism and in the context of consumption, an agent's choice is based on the ordering of preferences determined exogenously, disregarding any emotional, biological influences, or factors from socio-economic dynamics. Therefore, this paper aims to present an alternative framework for the decision-making of economic individuals at a theoretical and formal-mathematical level, grounded in the principles of evolutionary economics and complex adaptive systems. It is argued that the process of making choices in consumption is inherent to social dynamics. From an individual-holistic perspective, the mechanism motivating action can be characterized as an evolutionary algorithm that integrates biological, historical, cultural, social class, and market competition influences as endogenous elements in determining choice and consumption behavior.

Keywords : Social algorithm choice, consumption, complex systems, holism approach; JEL: B41, B52, B59, C02, D71, E21.

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