Neuroeconomics: A critical reconsideration

Economics and Philosophy 24 (3):303-344 (2008)
Abstract
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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DOI 10.1017/S0266267108002009
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References found in this work BETA
The Sciences of the Artificial.Herbert A. Simon - 1969 - [Cambridge, M.I.T. Press.
Functional Imaging of 'Theory of Mind'.H. L. Gallagher & C. D. Frith - 2003 - Trends in Cognitive Sciences 7 (2):77-83.
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Citations of this work BETA
Two Styles of Neuroeconomics.Don Ross - 2008 - Economics and Philosophy 24 (3):473-483.
The Potential of Neuroeconomics.Colin F. Camerer - 2008 - Economics and Philosophy 24 (3):369-379.
Philosophical Issues in Neuroimaging.Colin Klein - 2010 - Philosophy Compass 5 (2):186-198.

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