Titel: Neuroeconomics and the Logic of Behavior
Autor: Bernhard Neumärker
Abstract: Recent neuroeconomic studies challenge the conventional economic logic of behavior. After an introduction to some starting points of brain research in 'classical' economics we discuss the final and contingent causes of rational and irrational behavior in neuroeconomics and standard economics and present the concept of expanded rationality models (ERM) which imports neuroeconomic elements like emotions, beliefs and neuroscientific constraints and exports improved testable predictions. The typical structure of neuroeconomic proof of economic models and the imprecise neuroscientific measurement let us suggest a feed-back structure of economic research. We apply Hirshleifer's conception of macro-/micro-technology and contrast it to the neuroeconomic black box critique on economic theory. Furthermore, instead of direct adjustment of preference structures we propose the auxiliary creation of neuroeconomic constraints like action-dependent or outcome-dependent neuroeconomic belief constraints (NBC) and emotion compatibility constraints (ECC). This prepares the ground for our examination of neuroeconomics and ERM as two different paths towards an analytical unification of behavioral sciences.
Mind and Economy: Methodological Problems of Neuroeconomics
2007 (29) Heft 1
Among the most current 'neuro'-subdisciplines, neuroeconomics is perhaps the one with the most interesting genealogy. It seems to be not only one, but two steps away from classical economics, being itself a specialized form of behavioural economics, a field of research which for some depicts the psychology of actors more than their market behaviour. Neuroeconomics means inspection of the role the brain plays during actors' decisions, the categorizing of risks and rewards, and of social interacti...