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This paper presents an overview of recent research in neuroeconomics, in the light of the question how these relate to institutional economics. I present a critique of Glimcher's recent internalist standard model of neuroeconomics and put forward the claim that only an externalist approach can...
Persistent link: https://www.econbiz.de/10009315573
El reciente auge de la neuroeconomía ha abierto una serie de preguntas sobre el impacto que esta nueva disciplina puede tener sobre la forma en que se hace teoría económica. Este trabajo busca resaltar la relevancia que la metodología en ciencia económica tiene como herramienta...
Persistent link: https://www.econbiz.de/10011276563
I argue that it is microeconomics that needs foundations, not macroeconomics. Preferences need to be built on biology, and, in particular, on neuroscience. In contrast, macroeconomics could benefit from rationalizations of aggregate economic phenomena by non-equilibrium statistical physics.
Persistent link: https://www.econbiz.de/10005082994
The author argues that it is microeconomics that needs foundations, not macroeconomics. Preferences need to be built on biology, and, in particular, on neuroscience. In contrast, macroeconomics could benefit from rationalizations of aggregate economic phenomena by non-equilibrium statistical...
Persistent link: https://www.econbiz.de/10005083350
This note tries to state, precisely, the method of neuroecomics, and is based on the discussion in B. Douglas Bernheim's (2009) appraisal. We claim that the theory formulates hypotheses modeling the choice process as an algorithmic procedure. The hypothesis of the algorithmic procedure imposes...
Persistent link: https://www.econbiz.de/10005014619
The paper explores the consequences that relying on different behavioral assumptions in training managers may have on their future performance. We argue that training with an emphasis on the standard assumptions used in economics (rationality and self-interest) is good for technical posts but...
Persistent link: https://www.econbiz.de/10010547261
Although decision makers are often reported to have difficulties in making comparisons between multi-dimensional decision outcomes, economic theory assumes a uni-dimensional utility measure. This paper reviews evidence from behavioral and brain sciences to assess whether, and for what reasons,...
Persistent link: https://www.econbiz.de/10009401963
This paper presents an overview of recent research in neuroeconomics, in the light of the question how these relate to institutional economics. I present a critique of Glimcher's recent internalist standard model of neuroeconomics and put forward the claim that only an externalist approach can...
Persistent link: https://www.econbiz.de/10009368058
El reciente auge de la neuroeconomía ha abierto una serie de preguntas sobre el impacto que esta nueva disciplina puede tener sobre la forma en que se hace teoría económica. Este trabajo busca resaltar la relevancia que la metodología en ciencia económica tiene como herramienta...
Persistent link: https://www.econbiz.de/10014162239
The paper explores the consequences that different behavioral assumptions in the training of managers may have on their future performance. We argue that training with an emphasis on the standard assumptions used in economics (rationality and self-interest) is good for technical posts but may...
Persistent link: https://www.econbiz.de/10014047412