As Neuroeconomics gets started I've received a lot of email asking for an explanation. So here goes.
Neuroeconomics is an interdisciplinary research program with the goal of building a biological model of decision making in economic environments. Neuroeconomists ask, how does the embodied brain enable the mind (or groups of minds) to make economic decisions? By combining techniques from cognitive neuroscience and experimental economics we can now watch neural activity in real time, observe how this activity depends on the economic environment, and test hypotheses about how the emergent mind makes economic decisions. Neuroeconomics allows us to better understand both the wide range of heterogeneity in human behavior, and the role of institutions as ordered extensions of our minds.
What human good could possibly come of this field of research? Seems like it will only add to the arsenal of Market Researchers, who have already done immense damage to our livelihood in their attempt to quantify humans.
The dream of quantifying the qualitative has been a long-standing delusion. You cite the lust for understanding our 'heterogeneity,' yet this research blatantly lusts to undermine it. Nabisco will doubtlessly be thrilled.
Posted by: Subsume DeRuin | January 16, 2005 at 06:06 PM
Interesting, But wouldn't an approach similar to Lakoff's embodied mind be a more direct way of relating economics to brain structure?
It is well known that Wall Street is moved by stories, and Lakoffs metaphors linked to brain structures fit well within that paradigm
Posted by: Randy Gordon | January 17, 2005 at 01:11 AM
"Neuroeconomics"? I know I am partly repeating A. Monjan (Dec 29, 2004), but really, do we really need yet another term to hype the world with?
If every cross-scientific (in this case: cognitive neuroscience and experimental economics, or is it actually experimental consumer research hidden from view?) research project comes up with it's own nifty name and gives out an illusion of inventing a truly new scientific discipline... I think that the information pool of the scientific world is going nowhere fast with this pursuing of inventing "new" research areas. Yaaaawn.
Posted by: Manne Laukkanen | January 17, 2005 at 07:45 AM
Really good work. I found a lot of profound information which can help me to go on. Thanks for all this input.
Posted by: Miky Luke | January 19, 2005 at 05:46 AM
Hello,
It is a good news that - on one hand - social and human sciences and - on the other hand - cognitive sciences mix together in order to design another transversal field. Be sure we will follow your different posts, related to that empassioning new problematic.
Warm French regards :-)
Posted by: Lionel Bruel | January 19, 2005 at 08:21 PM
Wow! I first learned this term "neuro-economics" with a hypen on the date of March 18, 2005. It came to me in a Column One long article I recommend to all in the Los Angeles Times written by Robert Lee Hotz. You can still go to latimes.com and in the upper left search window copy and paste [Anatomy of Give and Take] without the brackets. First bring up the PRINT view version. Then do an "alt A". You can then do a copy and paste into Word by [Alt E,s,up arrow, return]. If you wait over a week from that date you will have to pay to get it from their archives. You are going to hear a lot more from me on this one. After I read some more on it from Googling I'll be getting back. I'll do this in chapters. This one is Chapter One. Kyle Ballard UC Berkeley '65 3-19-05
Posted by: Kyle Ballard | March 19, 2005 at 02:07 PM
When did the field of neuroeconomics develop and who coined the term? I am really interested in this field.
Posted by: anika | May 12, 2005 at 02:20 AM
I must confess that I was very excited when I heard of neuronomics. Because I believe that it is very necessary to reconstitute the decision making processes and ethical bases of economics to built a happy and hopeful future for humanity. I think that most of the totalitarian and authoritarian policies practising on the world today are standing on established economics. I hope the findings of neuronomics has got the potential of making significant contributions to reinterpreting the world affairs as much as economic activities.
Posted by: enver alper güvel | May 23, 2005 at 07:48 AM
Sir
I am an Indian student currently doing my Masters in economics.I want to know about the eligibility for this programme in Neuroeconomics .Please guide me as I am interested in this field.
Thanking you
Posted by: ambikakashyap | August 15, 2005 at 07:28 AM
hy,
i'm a german student of international finance and i had to do a presentation about ultimatum gamea, do you have some more litrature about this theme???
you side is great for our studys!!!! thx for it.
greatings from germany!
susan
Posted by: Susan | October 23, 2005 at 04:51 AM