The Case for Mindless Economics

Faruk Gül · Wolfgang Pesendorfer

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Decision-Making and Behavioral Economics Economic Theory and Institutions Experimental Behavioral Economics Studies

Abstract

Neuroeconomics proposes radical changes in the methods of economics. This essay discusses the proposed changes in methodology, together with the the neuroeconomic critique of standard economics. We do not assess the contributions or promise of neuroeconomic research. Rather, we offer a response to the neuroeconomic critique of standard economics. † This research was supported by grants from the National Science Foundation. We thank Drew Fudenberg and Philipp Sadowski for helpful comments and suggestions.

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