We critically review the methodological practices of two research programs which are jointly called 'neuroeconomics'. We defend the first of these, termed 'neurocellular economics' (NE) by Ross (2008), from an attack on its relevance by Gul and Pesendorfer (2008) (GP). This attack arbitrarily...

The paper evaluates the claim, made by a range of commentators but most prominently by Akerlof and Shiller in Animal Spirits, that the recent financial crisis illustrates gaps in the normative picture incorporated into standard macroeconomics that are plugged by insights due to behavioral...

Gul and Pesendorfer provide the best-known and most strident of a set of recent backlashes by economists against methodological revolutions promoted by some behavioural economists and neuroeconomists. Philosophers are likely to read these responses as merely reactionary, especially as their...

That the rationality of individual people is 'bounded' - that is, finite in scope and representational reach, and constrained by the opportunity cost of time - cannot reasonably be controversial as an empirical matter. In this context, the paper addresses the question as to why, if economics is...

There are at least two elements of theory completion necessary for measurement: (1) a measurement formula and (2) standardization of that representation. Standardization is based on the search for stability. The more stable the correlation which the measurement formula represents is, the less...