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Neuroeconomics

Neuroeconomics Book
Author : Paul W. Glimcher,Ernst Fehr
Publisher : Academic Press
Release : 2013-08-13
ISBN : 0123914698
Language : En, Es, Fr & De

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Book Description :

In the years since it first published, Neuroeconomics: Decision Making and the Brain has become the standard reference and textbook in the burgeoning field of neuroeconomics. The second edition, a nearly complete revision of this landmark book, will set a new standard. This new edition features five sections designed to serve as both classroom-friendly introductions to each of the major subareas in neuroeconomics, and as advanced synopses of all that has been accomplished in the last two decades in this rapidly expanding academic discipline. The first of these sections provides useful introductions to the disciplines of microeconomics, the psychology of judgment and decision, computational neuroscience, and anthropology for scholars and students seeking interdisciplinary breadth. The second section provides an overview of how human and animal preferences are represented in the mammalian nervous systems. Chapters on risk, time preferences, social preferences, emotion, pharmacology, and common neural currencies—each written by leading experts—lay out the foundations of neuroeconomic thought. The third section contains both overview and in-depth chapters on the fundamentals of reinforcement learning, value learning, and value representation. The fourth section, “The Neural Mechanisms for Choice, integrates what is known about the decision-making architecture into state-of-the-art models of how we make choices. The final section embeds these mechanisms in a larger social context, showing how these mechanisms function during social decision-making in both humans and animals. The book provides a historically rich exposition in each of its chapters and emphasizes both the accomplishments and the controversies in the field. A clear explanatory style and a single expository voice characterize all chapters, making core issues in economics, psychology, and neuroscience accessible to scholars from all disciplines. The volume is essential reading for anyone interested in neuroeconomics in particular or decision making in general. Editors and contributing authors are among the acknowledged experts and founders in the field, making this the authoritative reference for neuroeconomics Suitable as an advanced undergraduate or graduate textbook as well as a thorough reference for active researchers Introductory chapters on economics, psychology, neuroscience, and anthropology provide students and scholars from any discipline with the keys to understanding this interdisciplinary field Detailed chapters on subjects that include reinforcement learning, risk, inter-temporal choice, drift-diffusion models, game theory, and prospect theory make this an invaluable reference Published in association with the Society for Neuroeconomics—www.neuroeconomics.org Full-color presentation throughout with numerous carefully selected illustrations to highlight key concepts

Neuroeconomics

Neuroeconomics Book
Author : Martin Reuter,Christian Montag
Publisher : Springer
Release : 2016-10-06
ISBN : 364235923X
Language : En, Es, Fr & De

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Book Description :

This book represents one of the cornerstones of the series Studies in Neuroscience, Psychology and Behavioral Economics. It is divided into eight sections, starting with an introduction to neuroeconomics followed by an overview of frequently applied experimental paradigms (games) in neuroeconomics research. Furthermore, it addresses the molecular basis of human decision making, environmental/situational factors and social contexts influencing human decision making, as well as translational and developmental/clinical approaches to neuroeconomics. In closing, a paper on neuro-marketing demonstrates how knowledge from neuroeconomics research can be applied in “real life.” Culminating in an extensive methods section, in which eight different neuroscience techniques are introduced, the book offers an essential resource for researchers and practitioners, and may also be beneficial for graduate students.

Neuroeconomics and the Firm

Neuroeconomics and the Firm Book
Author : Angela A. Stanton,Mellani Day,Isabell M. Welpe
Publisher : Edward Elgar Publishing
Release : 2010-01-01
ISBN : 1849805601
Language : En, Es, Fr & De

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Book Description :

Do people with high testosterone levels make decisions the same way as people with lower testosterone? Do men change their behavior when a pretty woman enters the office? Do women change their behavior when a handsome man enters the office? Do men and women affect each other within the firm to the detriment or the benefit of the firm? In some ways, the questions this edited volume addresses are questions that we are all familiar with and have asked for many years. It suggests looking for answers in places that that we have never thought of before. Some of the chapters will surprise you with their ingenious, simple answers and propositions; some will perhaps make you feel awkward with their straight-forward way of presenting what we all suspected but felt uncomfortable to talk about. From the foreword by David B. Audretsch This volume brings together leading researchers from a variety of fields to investigate the concept of the firm from new perspectives arising from neuroeconomics. The traditional theory of the firm has focused on the strategic, operational and resource management objectives of the firm as an organization. This timely and informative book explores new horizons in the biology of human decision-making and behavior, including uncertainty, entrepreneurship and ethics as it affects the functioning of the organization. The fascinating chapters cover a wide range of research fields, drawing on both the conscious and the unconscious mind, and how common hormonal cycles in the female and testosterone variations in the male affect each other in the workplace and its affect on the firm as an organization. The topics of entrepreneurship and the recent global financial crisis are discussed from the perspective of hormonal forces and the implications of those forces in the future. It is an enlightening selection of articles that scholars, students, business leaders, and managers will find a valuable read. Vernon L. Smith, 2002 Nobel Laureate in Economics The ideal firm has been studied over several centuries, yet little is known about what makes one successful and another fail. This pioneering book brings together leading researchers investigating the concept of the firm from a neuroscientific perspective. From the viewpoint of economics, the firm's purpose is to maximize shareholders' wealth; resources are commodities, each with its particular supply and demand curve that can be manipulated by the firm to its own benefit. Traditionally, the firm is focused on the strategic, operational and resource management objectives. The editors instead suggest that the objective of the firm is equal to the objectives of its workers. The definition and function of risk in decision-making, ethics, trust and the global financial crisis are all discussed. They are analyzed from the perspective of human bio-physiology, using scanning and hormonal analysis tools, with a focus on the implications for the bottom line of the firm. With experimental as well as theoretical and applied contributions, this book will benefit scholars and students of economics, business management, finance, organizational behavior, entrepreneurship, psychology, neuroscience and law. Practitioners of management, entrepreneurship and law firms will also find this book to be a captivating read.

Neuroeconomics

Neuroeconomics Book
Author : Daniel Houser,Kevin McCabe
Publisher : Emerald Group Publishing
Release : 2008-12-01
ISBN : 1848553048
Language : En, Es, Fr & De

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Book Description :

Considers the various topics in health economics including the production of and demand for health; the demand for medical care services; the financing of these services; the markets for physicians, nurses, dentists, hospitals, and drugs; the economics of substance use; health in developing countries; and, the economics of medical technology.

Neuroeconomics

Neuroeconomics Book
Author : Paul W. Glimcher,Ernst Fehr,Colin Camerer,Russell Alan Poldrack
Publisher : Academic Press
Release : 2008-10-10
ISBN : 9780080921068
Language : En, Es, Fr & De

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Book Description :

Neuroeconomics is a new highly promising approach to understanding the neurobiology of decision making and how it affects cognitive social interactions between humans and societies/economies. This book is the first edited reference to examine the science behind neuroeconomics, including how it influences human behavior and societal decision making from a behavioral economics point of view. Presenting a truly interdisciplinary approach, Neuroeconomics presents research from neuroscience, psychology, and behavioral economics, and includes chapters by all the major figures in the field, including two Economics Nobel laureates. * An authoritative reference written and edited by acknowledged experts and founders of the field * Presents an interdisciplinary view of the approaches, concepts, and results of the emerging field of neuroeconomics relevant for anyone interested in this area of research * Full-color presentation throughout with carefully selected illustrations to highlight key concepts

Neuroeconomics

Neuroeconomics Book
Author : Laurie R. Santos,Michael L. Platt
Publisher : Elsevier Inc. Chapters
Release : 2013-08-13
ISBN : 0128073144
Language : En, Es, Fr & De

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Book Description :

In this chapter we discuss why behavioral studies of irrational biases in non-human primates are important for the field of neuroeconomics. We begin with a review of how behavioral work on choice biases in monkeys is important for understanding the nature of human choice errors. We then provide an introduction to the primate cognition approach, including a short overview of the organization of the primate order. We then briefly review the ecology and cognition of two primate species standardly used as models of human irrational decision making — brown capuchins and rhesus macaques. We next discuss empirical studies demonstrating that monkeys show human-like irrational errors in three of the classic situations in which human participants fall prey to biases: monkeys exhibit framing effects in risky decisions, they show endowment effects, and they are averse to ambiguous outcomes. We conclude our chapter with a discussion of how future work in neuroeconomics can capitalize on these new behavioral findings in monkeys.

Neuroeconomics

Neuroeconomics Book
Author : Andrew Caplin,Paul W. Glimcher
Publisher : Elsevier Inc. Chapters
Release : 2013-08-13
ISBN : 012807308X
Language : En, Es, Fr & De

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Book Description :

Much of neuroeconomics rests on an understanding of basic microeconomic thought. This chapter presents a concise overview of the main threads in modern economic studies of decision making. Beginning with a review of the history of both pricing theory and choice theory, the chapter describes the Marginal Revolution. It then goes on to develop Samuelson’s fundamental Revealed Preference approach and the notion of axiomatic proof. Several of the most important theories that grew from Samuleson’s work, including Expected Utility Theory, are described. The chapter concludes with a discussion of how axiomatic modeling approaches can be used as powerful tools in neuroscientific/neuroeconomic research by describing axiomatic studies of dopamine function.

Neuroeconomics

Neuroeconomics Book
Author : Anonim
Publisher : Frontiers E-books
Release : 2022-01-22
ISBN : 2889190277
Language : En, Es, Fr & De

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Book Description :

Download Neuroeconomics book written by , available in PDF, EPUB, and Kindle, or read full book online anywhere and anytime. Compatible with any devices.

Neuroeconomics and the Decision Making Process

Neuroeconomics and the Decision Making Process Book
Author : Christiansen, Bryan
Publisher : IGI Global
Release : 2016-03-17
ISBN : 1466699906
Language : En, Es, Fr & De

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Book Description :

Neuroeconomics has emerged as a field of study with the goal of understanding the human decision-making process and the mental consideration of multiple outcomes based on a selected action. In particular, neuroeconomics emphasizes how economic conditions can impact and influence the decision-making process and alternately, how human actions have the power to impact economic conditions. Neuroeconomics and the Decision-Making Process presents the latest research on the relationship between neuroscience, economics, and human decision-making, including theoretical foundations, real-world applications, and models for implementation. Taking a cross-disciplinary approach to neuroeconomic theory and study, this publication is an essential reference source for economists, psychologists, business professionals, and graduate-level students across disciplines.

Neuroeconomics

Neuroeconomics Book
Author : Peter Politser
Publisher : OUP USA
Release : 2008
ISBN : 0195305825
Language : En, Es, Fr & De

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Book Description :

An introduction to the burgeoning field of neuroeconomics, this book brings together the essential concepts the discipline draws on from psychology, neuroscience and economics.

Social Neuroeconomics

Social Neuroeconomics Book
Author : Jens Harbecke,Carsten Herrmann-Pillath
Publisher : Routledge
Release : 2020-09-23
ISBN : 1000097501
Language : En, Es, Fr & De

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Book Description :

Neuroeconomics has emerged as a paradigmatic field where neuroscience and the social sciences are integrated in one analytical and empirical approach. However, the different disciplines involved often only relate to each other via the shared object of research, and less through the constructing of precise models of integrative mechanisms. Social Neuroeconomics explores the potential of philosophical and methodological reflections in the neurosciences and the social sciences to inform those efforts at cross-disciplinary integration, with a special focus on recent contributions to mechanistic explanations. The collected essays are drawn from the fields of neuroscience, psychology, economics, sociology and philosophy, and examine the ways and methods of constructing unified conceptual frameworks that can guide empirical work and hypothesis building. This is demonstrated in a range of applications, particularly regarding finance and consumer behavior. The concept of the ‘social brain’ is also explored; a multilevel framework in which complex analytical categories such as emotions or socially mediated cognitive processes connect neuronal and social phenomena in specific mechanisms that generate behavior. This book addresses a wide audience across the various disciplines, reaching from the neurosciences to the social sciences and philosophy.

Neuroeconomics

Neuroeconomics Book
Author : Tania Singer,Anita Tusche
Publisher : Elsevier Inc. Chapters
Release : 2013-08-13
ISBN : 0128073349
Language : En, Es, Fr & De

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Book Description :

While economics and game theory are based on the assumption that people who engage in economic exchange are able to infer other people's motives and beliefs to predict their actions, economists have not yet become interested in the neural mechanisms that enable people to make inferences about other's mental and motivational states. However, the fields of social neuroscience and neuroeconomics have started to investigate our ability to represent others’ intentions and beliefs, referred to as “mentalizing” or “Theory of Mind” (ToM), and to share others' feelings and motivational states, referred to as “empathy”. Following an introduction to the field of social neuroscience, a clarification of concepts and a summary of major findings concerning the neural basis of mentalizing and empathizing are provided. Next, other social emotions closely related to empathy, such as compassion, and social emotions opposing empathy, such as schadenfreude, are introduced. Finally, future research questions are outlined and are discussed in light of their implications for neuroeconomics and human prosociality in general.

Neuroeconomics

Neuroeconomics Book
Author : Joseph W. Kable
Publisher : Elsevier Inc. Chapters
Release : 2013-08-13
ISBN : 0128073179
Language : En, Es, Fr & De

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Book Description :

Much work in neuroeconomics has focused on how the neural mechanisms of decision making adjust for the immediate versus the future consequences of a choice. This chapter reviews the key theoretical, behavioral and neurobiological findings regarding such intertemporal tradeoffs. It first reviews economic notions of discounting and the wealth of neurobiological data regarding the representation of discounted value in the brain. It then discusses the brain mechanisms that might support choosing delayed rewards over immediate ones, and the potential explanations for the failure to persist in the choice of a delayed reward while awaiting its receipt. The broader implications of these findings for psychology and economics are also discussed.

Neuroeconomics Hype or Hope

Neuroeconomics  Hype or Hope  Book
Author : Caterina Marchionni,Jack Vromen
Publisher : Routledge
Release : 2014-06-11
ISBN : 131797736X
Language : En, Es, Fr & De

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Book Description :

Is neuroeconomics a flimsy fad likely to pass without leaving a discernible trace in economics? Or is it a promising new field with the potential to enrich and improve economic theory? Neuroeconomics brings together a unique mix of perspectives ranging from philosophy of science to neuroeconomics practice to reflect on the promises and limitations of neuroeconomics for the future of economics. The analyses collected in the volume suggest that although neuroeconomics raises methodological worries that ought to be dealt with, it might contribute to economics in various ways, some perhaps more promising than others. One thing comes out clearly, though: a complete insulation of economics from neuroscience and psychology is likely to do economics more harm than good. This book was originally published as a special issue of Journal of Economic Methodology.

Neuroeconomics

Neuroeconomics Book
Author : Karolina M. Lempert,Elizabeth A. Phelps
Publisher : Elsevier Inc. Chapters
Release : 2013-08-13
ISBN : 0128073195
Language : En, Es, Fr & De

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Book Description :

The premise that emotions influence decisions is widely accepted, but relatively few studies have directly measured or manipulated emotional variables during decision making. This chapter surveys the current literature on this topic. Emotion modulates choices through two main routes. The first is through incidental affect, in which a baseline affective state can shift choices, although it is unrelated to the decision. This can be assessed through techniques such as stress or mood induction, and affective priming. The second way emotion can influence decisions is by being directly incorporated into the value computation during choice. For example, it has been shown that physiological arousal responses to the choice options or outcomes are linked to decisions. If we can characterize how emotion modulates choices, then we should also be able to alter choices by changing emotional states. We discuss how techniques such as emotion regulation and targeting memory reconsolidation might flexibly modulate choice.

Neuroeconomics

Neuroeconomics Book
Author : Ernst Fehr,Ian Krajbich
Publisher : Elsevier Inc. Chapters
Release : 2013-08-13
ISBN : 0128073187
Language : En, Es, Fr & De

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Book Description :

What motivates people to care about others is a fundamental question in the social and cognitive sciences. Here we discuss economic models of social preferences and how they help us to understand the psychological costs and benefits in social decisions. We then analyze recent neuroeconomic findings on social preferences with the goal of creating a coherent picture of the neural circuitry involved in social decisions. We argue that the insula and anterior cingulate cortex first determine what is socially appropriate and whether any norms have or will be violated, the amygdala generates emotional responses to these outcomes, the temporoparietal junction promotes perspective-taking, and finally the dorsolateral prefrontal cortex incorporates this information to modulate the overall utilities, and thus decisions, in the striatum and ventromedial prefrontal cortex. We conclude by discussing the implications of this research for understanding deficits in social behavior and how to potentially improve our own social behavior.

Neuroeconomics

Neuroeconomics Book
Author : Philippe N. Tobler,Elke U. Weber
Publisher : Elsevier Inc. Chapters
Release : 2013-08-13
ISBN : 0128073160
Language : En, Es, Fr & De

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Book Description :

In this chapter, we describe how risk and ambiguity impact the value of choice options, how this impact can be modelled formally and how it is implemented in the brain. In particular, we give an overview of two distinct ways of how risky choice options can be decomposed – either into outcomes and probabilities as proposed in economics or into statistical moments of the probability distribution like mean, variance, or skewness, as proposed in finance theory. The components of either approach appear to be represented in common and, at least to some extent, in separate brain regions, which include the dopaminergic midbrain, striatum and the orbitofrontal cortex. Activity in different (prefrontal and striatal) brain regions also supports the distinction between decisions from experience, when knowledge about risk is learned through trial and error versus decisions from description, when it is described symbolically. The fact that the principal components of formal models from economics and finance theory and their behavioral versions that provide better descriptive fit are represented in the brain provides converging support for these models.

Neuroeconomics

Neuroeconomics Book
Author : Christian C. Ruff,Scott A. Huettel
Publisher : Elsevier Inc. Chapters
Release : 2013-08-13
ISBN : 0128073136
Language : En, Es, Fr & De

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Book Description :

The growth of neuroeconomics as an academic discipline has been inextricably tied to the development of research methods to study brain function and its relationship to behavior. The aim of this chapter is to give an overview of these methods at a cursory level, while at the same time referring the reader to excellent textbooks and primary research articles for more in-depth information. The chapter focuses primarily on the conceptual issues involved in choosing a research technique and evaluating results using different techniques. As such, it is primarily intended for those who are new to neuroeconomics and cognitive neuroscience and who seek guidance on how to evaluate the strengths and limitations of published work. Accordingly, each technique is introduced in conjunction with specific examples drawn from recent neuroeconomic studies.

Neuroeconomics

Neuroeconomics Book
Author : Kenway Louie,Benedetto De Martino
Publisher : Elsevier Inc. Chapters
Release : 2013-08-13
ISBN : 0128073314
Language : En, Es, Fr & De

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Book Description :

Rather than existing in a vacuum, decisions occur within a context of past experiences and current conditions. While standard models of economic choice assume that decisions are made independent of such factors, empirical evidence indicates that choice can be strongly context-dependent. This chapter discusses behavioral examples, theoretical models, and potential neural substrates of context-dependent choice. Decisions are subject to a number of contextual factors, including the size of the choice set, array of option attributes, and framing of the decision scenario. While a useful model for many of these effects incorporates the idea of a reference point to which outcome values are compared, the neural basis of this process is unknown. However, context-dependence is well-characterized in sensory processing, where adaptation and divisive normalization explain temporal and spatial context effects. Analogous computations in the neural circuits underlying valuation and choice offer insight into the neurobiological mechanism of context-dependent decision making.

Neuroeconomics

Neuroeconomics Book
Author : Daeyeol Lee,Michael C. Dorris
Publisher : Elsevier Inc. Chapters
Release : 2013-08-13
ISBN : 0128073330
Language : En, Es, Fr & De

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Book Description :

We can often improve the outcomes of decisions in various social contexts as we become more familiar with the motives and strategies of other decision makers. However, the underlying neural mechanisms responsible for such learning remain poorly understood. The neural substrates of learning during social decision making have been studied at the level of single neurons in non-human primates trained in computer-simulated competitive games. The results from these studies have revealed that similar to humans, monkeys adjust their decision-making strategies using both model-free and model-based reinforcement learning algorithms. Neurophysiological recordings also indicate that these computational algorithms are supported by the broad network of cortical and subcortical areas, including the prefrontal cortex, posterior parietal cortex, basal ganglia, and superior colliculus.