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Some considerations regarding the problem of multidimensional utility

Binder, Martin - 2009

eliminate the possibility to make a normative argument supporting a multidimensional notion of utility. -- utility ; pleasures …The concept of "utility" is often used in ambiguous ways in economics, from having substantive psychological … can we compare different pleasures? This paper assesses the evidence from psychology and neurosciences on how to best …

Persistent link: https://www.econbiz.de/10003905687

Disentangling motivational and experiential aspects of "Utility" : a neuroeconomics perspective

Witt, Ulrich; Binder, Martin - 2011

-dimensional decision outcomes, economic theory assumes a uni-dimensional utility measure. This paper reviews evidence from behavioral and … makers' difficulties can be explained once the motivational aspects of utility ("wanting") are disentangled from the … experiential ones ("liking") and the features of the different psychological processes involved are recognized. -- utility …

Persistent link: https://www.econbiz.de/10009409675

Disentangling motivational and experiential aspects of “utility” – A neuroeconomics perspective

Witt, Ulrich; Binder, Martin - In: Journal of Economic Psychology 36 (2013) C, pp. 27-40

decision outcomes, economic theory assumes a unidimensional utility measure. This paper reviews evidence from behavioral and … makers’ difficulties can be explained once the motivational aspects of utility (“wanting”) are disentangled from the …

Persistent link: https://www.econbiz.de/10011051322

Neural Random Utility : Relating Cardinal Neural Observables to Stochastic Choice Behaviour'

Webb, Ryan; Glimcher, Paul; Levy, Ifat; Lazzaro, Stephanie - 2019

We assess whether a cardinal model can be used to relate neural observables to stochastic choice behaviour. We develop a general empirical framework for relating any neural observable to choice prediction, and propose a means of bench-marking their predictive power. In a previous study,...

Persistent link: https://www.econbiz.de/10014165905

Una primera aproximación a la evaluación del impacto de la Neuroeconomía para la teoría económica (A First Approach to Impact Assessment of Neuroeconomics for Economic Theory)

Arciniegas Gómez, Alejandra; Guerrero Nova, Jersson; … - 2013

El reciente auge de la neuroeconomía ha abierto una serie de preguntas sobre el impacto que esta nueva disciplina puede tener sobre la forma en que se hace teoría económica. Este trabajo busca resaltar la relevancia que la metodología en ciencia económica tiene como herramienta...

Persistent link: https://www.econbiz.de/10014162239

A Neurolinguistic Approach to Performativity in Economics

Herrmann-Pillath, Carsten - 2011

In recent sociological studies of markets, especially financial markets, researchers have argued that economics is performative (MacKenzie, Callon et al.). By this they refer to the observation that theories such as the Black-Scholes formula do not simply describe reality, but contributed to the...

Persistent link: https://www.econbiz.de/10013134630

Does Macroeconomics Need Microeconomic Foundations?

Da Silva, Sergio - 2010

The author argues that it is microeconomics that needs foundations, not macroeconomics. Preferences need to be built on biology, and, in particular, on neuroscience. In contrast, macroeconomics could benefit from rationalizations of aggregate economic phenomena by non-equilibrium statistical physics

Persistent link: https://www.econbiz.de/10013135079

How mindless is standard economics really?

Schipper, Burkhard - 2009

Contrary to claims by Gul and Pesendorfer (2008), I show that standard economics makes use of non-choice evidence in a meaningful way. This is because standard economics solely grounded in the theory of choice is "incomplete". That is, it has content that can not be revealed with any general...

Persistent link: https://www.econbiz.de/10003894920

Neuroökonomik, Institutionen und verteilte Kognition : empirische Grundlagen eines nicht-reduktionistischen naturalistischen Forschungsprogramms in den Wirtschaftswissenschaften

Herrmann-Pillath, Carsten - 2011

This paper presents an overview of recent research in neuroeconomics, in the light of the question how these relate to institutional economics. I present a critique of Glimcher's recent internalist standard model of neuroeconomics and put forward the claim that only an externalist approach can...

Persistent link: https://www.econbiz.de/10009315573

Hayek 2.0 :Grundlinien einer naturalistischen Theorie wirtschaftlicher Ordnungen

Herrmann-Pillath, Carsten - 2011

Combining different new approaches to human behavior in neuroeconomics, the cognitive sciences and institutional economics, this paper sketches the fundamentals of a naturalistic theory of economic order. In this endeavour, the argument follows the track laid down by Hayek's comprehensive...

Persistent link: https://www.econbiz.de/10009382379