Formal Limitations in Economic Theory and Alternative Set Theories

In this paper we discuss some formal limitations in contemporary economic theory and their solution in alternative set theories. The computability of choice functions as well as the existence of economic equilibria and of states of the world may not be ensured in general if the assumed set theory is ZFC. We claim that a switch to an alternative set theory may help to get rid of some of these negative results. While this procedure seems a facile form to solve analytical problems, we think that it may have a legitimate importance for economic theory. In fact, alternative set-theoretical frameworks convey different intuitions about how agents behave when solving problems. We discuss the advantages of AFA−+AD+DC as an alternative set-theoretical universe for economic theory.