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HEURISTICS USED BY HUMANS WITH PREFRONTAL CORTEX DAMAGE: TOWARD AN EMPIRICAL MODEL OF PHINEAS GAGE

Houser, Daniel; McCabe, Kevin; Keane, Michael; Bechara, … - EconWPA - 2003

by pre-specifying a set of candidate decision-making heuristics and then assigning each subject to the heuristic that … procedure is likely to fail when applied to the decision-making strategies of subjects with brain damage. This research uses the … in their heuristic, and this clustering does not preclude some normal and VM subjects from using the same decision rule …

Persistent link: https://www.econbiz.de/10005062723

Neural correlates of the affect heuristic during brand choice

Plassmann, Hilke; Kenning, Peter; Deppe, Michael; … - EconWPA - 2005

In this working paper it is investigated how affect and cognition interact in consumer decision making. The research … brand choice immediately when the decision is computed in the test person’s brain. In a neuroscientific experiment test … persons perform binary decision-making tasks between different brands of the same product class. The results suggest that the …

Persistent link: https://www.econbiz.de/10005125573

A Theory of Natural Addiction

Smith, Trenton G.; Tasnádi, Attila - EconWPA - 2005

Economic theories of rational addiction aim to describe consumer behavior in the presence of habit-forming goods. We provide a biological foundation for this body of work by formally specifying conditions under which it is optimal to form a habit. We demonstrate the empirical validity of our...

Persistent link: https://www.econbiz.de/10005135026

Social memory, social stress, and economic behaviors

Takahashi, Taiki - EconWPA - 2005

Social memory plays a pivotal role in social behaviors, from mating behaviors to cooperative behaviors based on reciprocal altruism. More specifically, social/person recognition memory is supposed, by behavioral-economic and game-theoretic analysis, to be required for tit- for-tat like...

Persistent link: https://www.econbiz.de/10005408231

The Neural Basis of Financial Risk Taking

Kuhnen, Camelia; Knutson, Brian - EconWPA - 2005

predict optimal and suboptimal choices in a financial decision-making task. We characterized two types of deviations from the … of economic decision-making. …

Persistent link: https://www.econbiz.de/10005556666

The Neuroeconomics of Trust

Zak, Paul J. - EconWPA - 2005

The traditional view in economics is that individuals respond to incentives, but absent strong incentives to the contrary selfishness prevails. Moreover, this “greed is good” approach is deemed “rational” behavior. Nevertheless, in daily interactions and in numerous laboratory studies, a...

Persistent link: https://www.econbiz.de/10005556689

How Do People Learn by Listening to Others? Experimental Evidence from Thailand

Healy, Andrew - EconWPA - 2005

This paper presents experimental evidence about how individuals learn from information that comes from inside versus outside their ethnic group. In the experiment, Thai subjects observed information that came from Americans and other Thais that they could use to help them answer a series of...

Persistent link: https://www.econbiz.de/10005125584

Necessary Conditions for Improving Civic Competence: A Scientific Perspective

Lupia, Arthur - EconWPA - 2005

Many attempts to increase civic competence are based on premises about communication and belief change that are directly contradicted by important insights from microeconomic theory and social psychology. At least two economic literatures are relevant to my effort to improve matters. One is the...

Persistent link: https://www.econbiz.de/10005125964

A Behavioral Model of Cyclical Dieting

Suranovic, Steven M.; Goldfarb, Robert S. - EconWPA - 2005

weight increase. Dieting frequency is shown to depend on decision period length, dieting costs, and habit persistence. …

Persistent link: https://www.econbiz.de/10005134600

An Economic Model of Youth Smoking: Tax and Welfare Effects

Suranovic, Steven M. - EconWPA - 2005

computational abilities. The model is applied to the youth decision to initiate smoking. Lifetime smoking paths of representative … smokers indicate that youths may experience a reduction in lifetime utility and come to regret their decision to smoke. It is …

Persistent link: https://www.econbiz.de/10005134613