David Bourget (Western Ontario)
David Chalmers (ANU, NYU)
Rafael De Clercq
Jack Alan Reynolds
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Economics and Philosophy 24 (3):303-344 (2008)
Understanding more about how the brain functions should help us understand economic behaviour. But some would have us believe that it has done this already, and that insights from neuroscience have already provided insights in economics that we would not otherwise have. Much of this is just academic marketing hype, and to get down to substantive issues we need to identify that fluff for what it is. After we clear away the distractions, what is left? The answer is that a lot is left, but it is still all potential. That is not a bad thing, or a reason to stop the effort, but it does point to the need for a serious reconsideration of what neuroeconomics is and what passes for explanation in this literature. I argue that neuroeconomics can be a valuable field, but not the way it is being developed and now. The same is true more generally of behavioural economics, which shares many of the methodological flaws of neuroeconomics
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Citations of this work BETA
Colin Klein (2010). Philosophical Issues in Neuroimaging. Philosophy Compass 5 (2):186-198.
Michiru Nagatsu (2013). The Limits of Unification for Theory Appraisal: A Case of Economics and Psychology. Synthese 190 (2):2267-2289.
Roberto Fumagalli (2011). On the Neural Enrichment of Economic Models: Tractability, Trade-Offs and Multiple Levels of Description. Biology and Philosophy 26 (5):617-635.
Don Ross (2012). What Can Economics Contribute to the Study of Human Evolution? Biology and Philosophy 27 (2):287-297.
Ivan A. Boldyrev & Carsten Herrmann-Pillath (2013). Hegel's “Objective Spirit”, Extended Mind, and the Institutional Nature of Economic Action. Mind and Society 12 (2):177-202.
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