Mathematical algorithms often fail to identify in time when the international financial crises occur although, as the classical theory of choice would suggest, the economic agents are rational and the markets are or should be efficient and behave also rationally. This contribution tries to...

The tendency of people to think of money in nominal, rather than real, terms is now well documented by recent empirical data. In particular, experimental and neurobiological data provide new insights on the individual and subindividual (neurobiological processes) anchoring of money illusion. The...

The model of memory process we propose is based on two assumptions. First, spatial or adresses network models in economics can be easily adapted to describe a significative part of the episodic memory mechanism as defined by Tulving (1983). Second, brain viewed as a network behaves as a...

Human behavior is affected by various forms of persuasion. The general persuasive effect of high expertise of the communicator, often referred to as "expert power", is well documented. We found that a single exposure to a combination of an expert and an object leads to a long-lasting positive...

Hayek's contribution to law has been criticized and disputed. This paper shares the opinion that the significance of Hayek's legal writings and their relevance to law and economics can only be understood by jointly analyzing his economic and legal theories. Moreover, I will argue that both...

Recent studies in neuroeconomics and econophysics revealed the importance of reward expectation in decision under uncertainty. Behavioral neuroeconomic studies have proposed that the unpredictability and the probability of an uncertain reward are distinctly encoded as entropy and a distorted...

The integration of economics and psychology has created a vibrant and fruitful emerging field of study. The essays in Economics and Psychology take a broad view of the interface between these two disciplines, going beyond the usual focus on "behavioral economics." As documented in this volume,...