A tractable theory of choice based on cell behavior

Gonzalo Valdés-Edwards; Salvador Valdés-Prieto

This paper presents a choice model based on a model for the behavior of brain cells that is based on neurological findings. The paper shows that it is possible to define choice as the result of a series of interconnected cellular processes, instead of framing the problem from the point of view of a single optimizing agent. Many of the desirable attributes of the latter are preserved. Under specific conditions identified here, the aggregate behavior of individual brain cells is similar to what a traditional rational optimizing agent would choose. This model is a first step to understand decision-making in terms of cellular interactions.

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Year of publication:	2013
Authors:	Valdés-Edwards, Gonzalo ; Valdés Prieto, Salvador
Publisher:	München : CESifo
Subject:	neuroeconomics \| decision-making \| economics of neural activity \| Neuroökonomie \| Neuroeconomics \| Entscheidung \| Decision \| Entscheidungstheorie \| Decision theory \| Verhaltensökonomik \| Behavioral economics \| Neuronale Netze \| Neural networks