THE SYLLOGISM OF NEURO-ECONOMICS

Camillo Padoa‐Schioppa

12 citations0/0 files storedEconomics and Philosophy

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

Abstract

If Neuroscience is to contribute to Economics, it will do so by the way of Psychology. Neural data can and do lead to better psychological theories, and psychological insights can and do lead to better economic models. Hence, Neuroscience can in principle contribute to Economics. Whether it actually will do so is an empirical question and the jury is still out. Economics currently faces theoretical and empirical challenges analogous to those faced by Physics at the turn of the 20(th) century and ultimately addressed by quantum theory. If "quantum Economics" will emerge in the coming decades, it may well be founded on such concepts as cognitive processes and brain activity.

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References

1979Prospect Theory: An Analysis of Decision under Risk 1988Prospect theory: An analysis of decision under risk 1953Science and Human Behavior 1997Golden Eggs and Hyperbolic Discounting 1954Science and Human Behavior.2011Incorporating Fairness into Game Theory and Economics 1975The Language of Thought 1959Verbal behavior. By B. F. Skinner. (The Century Psychology Series.) Pp. viii, 478. New York: Appleton-Century-Crofts, Inc., 1957.

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2015Economics, Psychology, and the Unity of the Decision Sciences 2013Neuroeconomics, identity theory, and the issue of correlation 2022The utility of goods or actions? A neurophilosophical assessment of a recent neuroeconomic controversy 2022Two Styles of Social Neuroeconomics 2017La neuroéconomie : quelques éclairages sur un nouveau genre disciplinaire

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