Where economics and neuroscience might meet

Journal of Economic Methodology 17 (2):171-183 (2010)
Contrary to what is claimed by Gul and Pesendorfer (2008), in this paper I argue that neuroscience and economics can meet in ways that speak to the interests of economists. As Bernheim (2009) argues, economists seem to be primarily interested in novel models that link ?traditional? environmental variables (such as prices and taxes) to choice behavior in a more accurate way than existing models. Neuroscience might be helpful here, since especially computational neuroscience is also in the business of mapping environmental variables on to behavior. Given that experimental findings seem to show that choice behavior displays great context-sensitivity, I discuss two tentative ways in which neuroscience might be helpful. Neuroscience might be able to identify a multitude of environmental variables and the choice algorithms in the brain that they activate. Going this way might lead to novel models that differ markedly from standard economic models. Alternatively, neuroscience might be able to provide more theoretical guidance as to how individuals model the situations they are in. In principle, this route might leave standard economic models largely intact while improving their predictive record.
Keywords No keywords specified (fix it)
Categories (categorize this paper)
DOI 10.1080/13501781003756691
 Save to my reading list
Follow the author(s)
My bibliography
Export citation
Find it on Scholar
Edit this record
Mark as duplicate
Revision history Request removal from index
Download options
PhilPapers Archive

Upload a copy of this paper     Check publisher's policy on self-archival     Papers currently archived: 23,674
External links
Setup an account with your affiliations in order to access resources via your University's proxy server
Configure custom proxy (use this if your affiliation does not provide a proxy)
Through your library
References found in this work BETA

View all 6 references / Add more references

Citations of this work BETA
Roberto Fumagalli (2015). Five Theses on Neuroeconomics. Journal of Economic Methodology 23 (1):77-96.

Add more citations

Similar books and articles
Nicholas Maxwell (1985). Methodological Problems of Neuroscience. In David Rose & Vernon Dobson (eds.), Models of the Visual Cortex. New York: John Wiley & Sons
M. Colombo & P. Series (2012). Bayes in the Brain--On Bayesian Modelling in Neuroscience. British Journal for the Philosophy of Science 63 (3):697-723.
Jason Shepard & Shane Reuter (2012). Neuroscience, Choice, and the Free Will Debate. American Journal of Bioethics - Neuroscience 3 (3):7-11.

Monthly downloads

Added to index


Total downloads

8 ( #467,176 of 1,903,102 )

Recent downloads (6 months)

3 ( #264,923 of 1,903,102 )

How can I increase my downloads?

My notes
Sign in to use this feature

Start a new thread
There  are no threads in this forum
Nothing in this forum yet.