Chapter 89: Neuroeconomics

Dante Monique Pirouz

Neuroeconomics Decision making is a fundamental part of human behavior. We all make decisions every day that influence our health, well-being, finances, and future prospects, among other things. Researchers have become increasingly interested in why we make the decisions we do, especially when, in many cases, these decisions do not appear to be rational or beneficial to us in the long run. While neoclassical economics has traditionally looked at how people should behave, other disciplines such as psychology and cognitive science have tried to answer the question of why people act the way they do. A new discipline, referred to as neuroeconomics, has sought to meld theory and methodology from diverse areas such as economics, psychology, neuroscience, and decision theory to create a model of human behavior that not only explains but also predicts how people make decisions (Glimcher & Rustichini, 2004). Neuroeconomics research examines how people make choices and ...

Users without subscription are not able to see the full content on this title. Please, subscribe or login to access all content on this website.

• Buy The Book