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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
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Some Considerations Regarding the Problem of Multidimensional Utility
Binder, Martin - Wirtschaftswissenschaftliche Fakultät, … - 2009
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 … conceive of utility. It turns out that empirical evidence does not favor a view of multidimensional utility. This does not …
Persistent link: https://www.econbiz.de/10008514330
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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 …
Persistent link: https://www.econbiz.de/10010286755
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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
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Disentangling Motivational and Experiential Aspects of "Utility" - A Neuroeconomics Perspective
Witt, Ulrich; Binder, Martin - Volkswirtschaft Abteilung, Fachbereich … - 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 …
Persistent link: https://www.econbiz.de/10009401963
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Does Macroeconomics Need Microeconomic Foundations?
Da Silva, Sergio - 2009
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...
Persistent link: https://www.econbiz.de/10010298584
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Does Macroeconomics Need Microeconomic Foundations?
Da Silva, Sergio - In: Economics: The Open-Access, Open-Assessment E-Journal 3 (2009) 2009-23, pp. 1-11
I argue 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/10010298641
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Neuroeconomics, naturalism and language
Herrmann-Pillath, Carsten (contributor) - 2008
Neuroeconomics stays in the center of the ongoing naturalistic turn in economics. It portrays the individual as a complex system of decision making mechanisms and modules. This results into a conceptual tension with the standard economic notion of the unity of the actor that is a systemic...
Persistent link: https://www.econbiz.de/10003785973
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Does macroeconomics need microeconomic foundations?
Silva, Sergio da - 2009
I argue 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/10003843048
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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