Neuroeconomics draws attention to motive forces that have no room in the standard framework of economic theory. The present paper develops a conceptual approach that tackles the issues at the systemic level of the brain, i.e. by analyzing and modeling the brain processes that decide on behavior....

Each member of a group receives a signal about the unknown state of the world and decides upon a utility-maximizing recommendation on the basis of that signal. The individuals have identical preferences. The group makes a decision that maximizes the common utility function assuming perfect...

Financial decisions are among the most important life-shaping decisions that people make. We review facts about financial decisions and what cognitive and neural processes influence them. Because of cognitive constraints and a low average level of financial literacy, many household decisions...