Book Reviews Jack Vromen, Economics and Philosophy, FirstView Article.

I consider Glimcher's claim to have given an account of mental functioning that is at once neurological and decision-theoretical. I am skeptical, but remark on some good ideas of Glimcher's.

So far, the methodological debate about neuroeconomics rarely refers to original methodological positions in the neurosciences. I confront one of the most influential ones, the constitutive explanations or mechanism approach, with methodological claims that directly relate the economic model of choice with neuronal embodiments, represented by Glimcher’s influential work. Constitutive explanations are composite and non-reductionist, therefore allow for recognizing complex causal interactions between basal neuronal phenomena and cognitive structures, also involving external symbolic media. I demonstrate the power of this (...) methodology in discussing the example of money, which Glimcher posits as one of the most important research tasks in further developing neuroeconomics. Whereas Glimcher justifies neuroscientific reductionism by presenting an evolutionary rationale for deploying formal economic models on particular modules enabling choice, the case of money reveals the need for mechanistic explanations that include a substantial role for cultural evolution, though recognizing causal interactions with basal neuronal mechanisms. (shrink)

This is a review article of Ross (2005), a book which attempts to show the implications of cognitive science and economics for each other. Ross makes neoclassical economics central to the unification of the behavioural sciences, and defends its fundamental health against its critics. He locates the source of the empirical and conceptual problems besetting neoclassical economics in the mistaken assumption that the economic agents neoclassicism talks about refer directly to real, whole people. Ross argues that people are atypical as (...) economic agents; bugs and other non-social animals are much more typical, and neoclassical economics applies to them in a straightforward way. How then does economics apply to the atypical agents that people are? Ross’s answer builds on Ainslie (2001), who models people as being the result of strategic interactions between successive economic agents, and on Glimcher’s (2003) work on the neuroeconomics of game playing in monkeys which, Ross argues, can be extrapolated to humans. The author is impressed by the boldness of Ross’s vision, and the arguments offered to support it. However, doubts remain about Ross’s theory of the self, the lifespan of the proposed successive economic agents out of which real people are composed, the implicit suggestion that in economics approximations can be overcome, and finally the conclusiveness of Ross’s case against the need for revolutionary reappraisals of neoclassical economics. (shrink)