Making economic sense of brain models: a survey and interpretation of the literature

Autor: Werner Neu
Rok vydání: 2009
Předmět:
Zdroj: Journal of Bioeconomics. 11:103-103
ISSN: 1573-6989
1387-6996
DOI: 10.1007/s10818-009-9055-z
Popis: Neuroeconomics draws attention to motive forces that are ignored in the standard framework of economic theory. The present paper develops a conceptual approach that, similar to Pennings et al. (Journal of Bioeconomics 7: 113–127, 2005), tackles the issues at the systemic level by analyzing and modeling the brain processes that decide on behavior. It takes as the basic unit of analysis potential stimulus-response actions which—when selected—become actual behavior. The objective of these potential stimulus-response actions is to increase utility. At any moment of time, several of these potential actions compete with each other for the privilege of becoming actual behavior. This competition can be modeled on the basis of economic principles. The behavior that materializes may cover the range from the rational to the foolish, depending on which of the potential responses gathers the greatest emotional strength. The emotional strength of a potential response, in turn, is determined by the individual’s past experience and her capacity for rational action. Given that the objective is always to increase utility, it can normally be expected that the more or less rational dominates the foolish, but this need not always be the case. Which potential actions become behavior in a concrete instance is decided by a mechanism implemented by the basal ganglia, a structure in the brain serving as the action selection mechanism. The insights provided by this approach afford coherent explanations of behaviors that are not readily explicable by the standard approach of economic theory.
Databáze: OpenAIRE
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