Stanton, Angela A. (2008): Neuroeconomics: A Critique of 'Neuroeconomics: A Critical Reconsideration'.
Download (63kB) | Preview
Some economists believe that the work of neuroeconomists threatens the theory of economics. Glenn Harrison’s paper “Neuroeconomics: A Critical Reconsideration” attempts to set the score, though the points he makes are hidden behind the fumes of his anger (Glenn W. Harrison 2008). The field of neuroeconomics is barely into its teenage years; and it is trying to do what? Redesign the field of economics developed over a hundred years? No, that is not what neuroeconomics is trying to do, in spite of all the efforts of some economists trying to place it into that shoebox. Neuroeconomics is a Mendelian-Economics of sort; it is a science that is able to generate data by fixing the environment to some degree and looking to see each individual’s choices from the initiation of the decision-making process to its outcome. Standard economics (SE), on the other hand, looks at the average of the outputs of many individuals and proposes how the human chose those outcomes. The two fields, neuroeconomics and SE, are evaluating two sides of the same coin; one with and the other without ceteris paribus; they are not necessarily in conflict with one another.
|Item Type:||MPRA Paper|
|Original Title:||Neuroeconomics: A Critique of 'Neuroeconomics: A Critical Reconsideration'|
|Keywords:||A debate over the field of Neuroeconomics|
|Subjects:||C - Mathematical and Quantitative Methods > C9 - Design of Experiments > C90 - General
D - Microeconomics > D0 - General > D01 - Microeconomic Behavior: Underlying Principles
B - History of Economic Thought, Methodology, and Heterodox Approaches > B4 - Economic Methodology > B41 - Economic Methodology
|Depositing User:||Angela Stanton|
|Date Deposited:||26. Mar 2008 07:14|
|Last Modified:||16. Feb 2013 01:13|
1. Camerer, Colin, Loewenstein, George, Prelec, Drazen. "Neuroeconomics: Why Economics Needs Brains"." Scandinavian Journal of Economics, 2004, 106 (3), 555-579. 2. Camerer, Colin, Loewenstein, George, Prelec, Drazen. "Neuroeconomics: How Neuroscience Can Inform Economics." Journal of Economic Literature, 2005, 43 (March), 9-64. 3. Deaner, Robert O., Khera, Amit V., Platt, Michael L. "Monkeys Pay Per View: Adaptive Valuation of Social Images by Rhesus Macaques." Current Biology, 2005, 15 (March 29), 543-548. 4. DeQuervain, D. J-F., Fischbacher, U., Treyer, V., Schellhammer, M., Schnyder, U., Buck, A., Fehr, E. "The Neural Basis of Altruistic Punishment." Science, 2004, 305 (1254), 1258. 5. Ehrsson, H. Henrik, Wiech, Katja, Weiskopf, Nikolaus, Dolan, Raymond J., Passingham, Richard E. "Threatening a Rubber Hand that You Feel is Yours Elicits a Cortical Anxiety Response." Proc Natl Acad Sci, 2007, 104 (23), 9828-9833. 6. Fowler, James H. "Altruistic Punishment and the Origin of Cooperation." Proc Natl Acad Sci, 2005, 102 (19), 7047-7049. 7. Gazzola, Valeria, Aziz-Zadeh, Lisa, Keysers, Christian. "Empathy and the Somatotopic Auditory Mirror System in HUmans." Current Biology, 2006, 16 (September 19), 1824-1829. 8. Harrison, Glenn W. "Neuroeconomics: A Critical Reconsideration." Economics and Philosophy, 2008, 24 (forthcoming). 9. Henrich, Joseph Patrick. Foundations of human sociality economic experiments and ethnographic evidence from fifteen small-scale societies. Oxford: Oxford University Press, 2004. 10. Henrich, Joseph Patrick, Boyd, Robert., Bowles, Samuel, Camerer, Colin, Fehr, Ernst, Gintis, Herbert, McElreath, Richard. "In Search of Homo Economicus: Behavioral Experiments in 15 Small-Scale Societies." The American Economic Review, 2001, 91 (73), 78. 11. Henrich, Joseph Patrick, Boyd, Robert., Bowles, Samuel, Camerer, Colin, Fehr, Ernst, Gintis, Herbert, McElreath, Richard, Alvard, Michael, Barr, Abigail, Ensminger, Jean et al. ""Economic Man" in Cross-Cultural Perspective: Behavioral Experiments in 15 Small-Scale Societies." Behav.Brain Sci., 2005, 28 795-855. 12. Jackson, Philip L., Brunet, Eric, Meltzoff, Andrew N., Decety, Jean. "Empathy Examined Through the neural Mechanisms Involved in Imagining How I Feel versus How You Feel Pain." Neuropsychologia, 2006, 44 752-761. 13. Jackson, Philip L., Meltzoff, Andrew N., Decety, Jean. "How Do We Perceive the Pain of Others? A Window into the Neural Processes Involved in Empathy." NeuroImage, 2005, 24 771-779. 14. Kosfeld, Michael, Heinrichs, Markus, Zak, Paul J., Fischbacher, Urs, Fehr, Ernst. "Oxytocin Increases Trust in Humans." Nature, June 2005, 435 673-676. 15. Mas-Colell, Andrew, Whinston, Michael D., Green, Jerry R. Microeconomic Theory. Oxford: Oxford University Press, 1995. 16. Morrison, India, Lloyd, Donna, di Pellegrino, Giuseppe, Roberts, Neil. "Vicarious Responses to Pain in Anterior Cingulate Cortex: Is Empathy a Multisensory Issue?" Cognitive, Affective, & Behavioral Neuroscience, 2004, 4 (2), 270-278. 17. Padoa-Schioppa, Camillo. "Orbitofrontal Cortex and the Computation of Economic Value." Ann.N.Y.Acad.Sci., 2007, 1121 232-253. 18. Platt, M. L., Glimcher, P. W. "Neural Correlates of Decision Variables in Parietal Cortex." Nature, 1999, 400 233-238. 19. Quiggin, John. Generalized expected utility theory the rank-dependent model. Boston: Kluwer, 1993. 20. Singer, Tania, Seymour, Ben, O'Doherty, John P., Stephan, Klaas E., Dolan, Raymond J., Frith, Chris D. "Empathic Neural Responses are Modulated by the Perceived Fairness of Others." Nature, January 2006, 439 466-469. 21. Stanton, Angela A. "Neural Substrates of Decision-Making in Economic Games." Journal of Dissertation, 2007, 1 (1). 22. Williamson, Oliver E. "Calculativeness, Trust, and Economic Organization." Journal of Law and Economics, 1993, XXXVI 453-486. 23. Zak, Paul J., Borja, Karla, Matzner, William T., Kurzban, Robert. "The Neuroeconomics of Distrust: Sex Differences in Behavior and Physiology." The American Economic Review, 2005a, 95 (2), 360-363. 24. Zak, Paul J., Kurzban, Robert, Matzner, William T. "The Neurolobiology of Trust." Ann.N.Y.Acad.Sci., 2004, 1032 224-227. 25. Zak, Paul J., Kurzban, Robert, Matzner, William T. "Oxytocin is Associated with Human Trustworthiness." Hormones and Behavior, 2005b, 48 522-527. 26. Zak, Paul J., Stanton, Angela A, Ahmadi, Sheila. "Oxytocin Increases Generosity in Humans." PLoS ONE, November 2007, 2 (11), e1128.