Tuesday, February 03, 2004
Neuro-economics?
The Public Library of Biology publishes about how monkeys will throw temper tantrums and refuse a reward if they see another monkey given a better one for similar performance. This points to an inherent cost-benefit analysis system, further wreaking havoc with economists theories.
The article further discusses how economists and neuroscientists are working together to get a better picture of (on the economists' side) how people make decisions and (the neuroscientists) how the brain controls things. Ventral midbrain dopamine seems to be involved. No big surprise there.....it's crucial to reward-based activities.
Further discussion of humans being hard-wired for cooperation, and thus not acting purely rationally in economists' terms.
Best quote: "This is starting to give economists a way to loop back into experiments—they realized they've got to crack the head open."
The article further discusses how economists and neuroscientists are working together to get a better picture of (on the economists' side) how people make decisions and (the neuroscientists) how the brain controls things. Ventral midbrain dopamine seems to be involved. No big surprise there.....it's crucial to reward-based activities.
Further discussion of humans being hard-wired for cooperation, and thus not acting purely rationally in economists' terms.
Best quote: "This is starting to give economists a way to loop back into experiments—they realized they've got to crack the head open."
