On the rationale for hysteresis in economic decisions

Abstract

In the social sciences there are plausible reasons to postulate that hysteresis effects are important. The available evidence, however, is predominantly at the macro level. In this paper we review the evidence regarding hysteresis in the neural processes underlying human behavior. We argue that there is a need for experimental and neuroimaging studies to fill the gap in knowledge about hysteresis processes at the micro level in the social sciences.

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