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Neuroeconomics

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 Neuroeconomics2005-01-17 16:46
3 comments
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What is "neuroeconomics"? See the Neuroeconomics Blog
Neuroeconomics is an interdisciplinary research program with the goal of building a biological model of decision making in economic environments. Neuroeconomists ask, how does the embodied brain enable the mind (or groups of minds) to make economic decisions? By combining techniques from cognitive neuroscience and experimental economics we can now watch neural activity in real time, observe how this activity depends on the economic environment, and test hypotheses about how the emergent mind makes economic decisions. Neuroeconomics allows us to better understand both the wide range of heterogeneity in human behavior, and the role of institutions as ordered extensions of our minds.

Hm, I suppose that is interesting. Does the brain make economic decisions? To a large degree, I guess. You get stimulated in various ways, your inhibitions get lowered, and you buy. But that's probably where we'll find a lot of the somewhat irrational reasons for economic activity, in neurological patterns. Probably won't turn up that rational agent that free market capitalist theory pre-supposes.

Anyway, we can of course imagine going all the way with this. Your brain is constantly wired and our signals are networked. Our electronic agents will negotiate transactions based on how neurologically motivated you are by the objects in question. So, if you really, really want it, you pay more. And pretty soon your bank account will automatically be debited when you walk by a billboard advertising swim suits. If you like it, that is. If you train yourself to have no reaction to anything, by taking lots of prozac and depriving yourself of sleep, or whatever, you can save a lot of money, as you'd always get it for the cheapest possible price.


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3 comments

19 Dec 2014 @ 21:26 by Mohamed @37.59.101.32 : AFfjxfHmBTMZucKY
If extra taxes are raised from the potelulrs then, I would hope that the extra money raised would be spent on finding new ways to produce energy and also as investment into producing what pollutes in a less polluting way and not just revenue for the Chancellors purse. In a Country where we produce 2% of the worlds carbon emissions, will taxes on pollution make any difference when many other Countries are not following our lead. Also beware that the potelulrs are the manufactureres and service industries that fill the public need and extra taxes means extra prices to the end user. Some industries like my own are held down with financial restraints and cannot pass on extra costs because of the power our Insurance Company partners impose.As a member of the general public, I do not trust politicians, and Menzies seems to be the best of the bunch, the other leaders have their own hidden agenda's. The smiling face of Gordon Brown hides what lies beneath and as a business man I have been hit heavily with extra taxes, rules and regulations with little improvement in the lives of the people of the Uk . We need an honest face in politics and to date I have not seen one. I will vote Liberal in the hope that Menzies may be the first.  


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22 Aug 2016 @ 04:40 by National drink of Pakistan @39.36.247.24 : Malik
All the tragedy for Pakistan is constantly on the worsen like relief offers and benefit fall far besides what is. More benefit is frantically needed for the potential for enormous fatalities should begin to loom.  


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