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Neuroeconomics (Philosophical Transactions of the Royal Society series B)

Posted on 2010-05-31




Name:Neuroeconomics (Philosophical Transactions of the Royal Society series B)
ASIN/ISBN:0854037217
Publish Date:2008
Pages:119 pages
File size:3 Mb
ISBN: 0854037217
Publish Date: 2008
File Type: PDF
Pages: 119 pages
File Size: 3 Mb
Other Info: The Royal Society
   Neuroeconomics (Philosophical Transactions of the Royal Society series B)

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Neuroeconomics is a new field combining neuroscience and economic decision making. The field has developped in the past five years out of brain science related to reward and decision making and out of behavioural economics dealing with utility, exceptions to expected utility theory and prospect theory, and games. Although microeconomics has developped well over the past 30 years, there is hardly any knowledge on how the brain treats the underlying psychological processes. Neuroeconomics can be controversial, as many economists feel that brain science does not help them to solve their issues. However, there is no a priori reason why this criticism should become true, as there is a long-standing, successful tradition to seek understanding of psychological issues from brain science, and there is no intrinsic reason why this should not be the case with economics. However, beyond providing potential solutions for microeconomic issues, neuroeconomics should be viewed on a larger scale as addressing the basic issues of how economic (reward-directed) decisions are made by the brain as the key organ determining the behaviour of each individual. The issues to be discussed address neural decision making under uncertainty, neural processes active during performance of two-player games, emotional and social neuroscience, neural basis for decision making in an ecological and evolutionary framework, the economics of brain function, neural processes in basic economic, reward-related decision making.

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