Neuroeconomics is a new highly promising approach to understanding the neurobiology of decision making and how it affects cognitive social interactions between humans and societies/economies. This book is the first edited reference to examine the science behind neuroeconomics, including how it influences human behavior and societal decision making from a behavioral economics point of view. Presenting a truly interdisciplinary approach, Neuroeconomics presents research from neuroscience, psychology, and behavioral economics, and includes chapters by all the major figures in the field, including two Economics Nobel laureates.* An authoritative reference written and edited by acknowledged experts and founders of the field * Presents an interdisciplinary view of the approaches, concepts, and results of the emerging field of neuroeconomics relevant for anyone interested in this area of research* Full-color presentation throughout with carefully selected illustrations to highlight key concepts

This book represents one of the cornerstones of the series Studies in Neuroscience, Psychology and Behavioral Economics. It is divided into eight sections, starting with an introduction to neuroeconomics followed by an overview of frequently applied experimental paradigms (games) in neuroeconomics research. Furthermore, it addresses the molecular basis of human decision making, environmental/situational factors and social contexts influencing human decision making, as well as translational and developmental/clinical approaches to neuroeconomics. In closing, a paper on neuro-marketing demonstrates how knowledge from neuroeconomics research can be applied in “real life.” Culminating in an extensive methods section, in which eight different neuroscience techniques are introduced, the book offers an essential resource for researchers and practitioners, and may also be beneficial for graduate students.

As technology has opened new windows into the brain, it has clarified what happens there when people make decisions about money. This clarity has produced a new science called neuroeconomics, which addresses diverse questions, such as why people save, buy stocks, steal, and overspend. The many different methods used in neuroeconomics have, however, often yielded unclear findings about the quality of these decisions, primarily because the field has lacked both guidelines for categorizing the different aspects of quality, and guidelines for selecting methods to study these aspects. Before this book, in which Peter Politser guides the reader through the different regions of study, there was no scientific guide for those interested in neuroeconomics. Politser shows how to evaluate specific elements of choice, such as regret, expectation, risk, ambiguity, time preference, and learning, and surveys economic and behavioral models of decision making skills. He reviews the neural correlates of decisional impairments and inconsistenciesclarifying, for example, why we do not recall what we experience, experience what we expect, or like what we want, and provides detailed tables of decision-making skills, their neural correlates, and possible impairments. Politser also considers what the field of neuroeconomics may add to future conceptions of decision making, and outlines the limitations of various studies of different capacities. He then introduces a broader field for the design and interpretation of neuroeconomic studiesa neuroepidemiology of decision making. Everyone who wants to understand the research in neuroeconomics or use its methods should read this book. Its accessible text, along with an extensive glossary, will guide those with little economic or neuroscience background, and make the book an excellent supplement for courses on neuroscience and decision making.

What is Neuroeconomics The field of neuroeconomics is an interdisciplinary field that aims to explain human decision-making, which includes the capacity to process various alternatives and to carry out a plan of action. It investigates the ways in which economic behavior can influence our understanding of the brain, as well as the ways in which findings in neuroscientific research can lead economic models. How you will benefit (I) Insights, and validations about the following topics: Chapter 1: Neuroeconomics Chapter 2: Behavioral economics Chapter 3: Loss aversion Chapter 4: Ultimatum game Chapter 5: Prefrontal cortex Chapter 6: Somatic marker hypothesis Chapter 7: Orbitofrontal cortex Chapter 8: Frontostriatal circuit Chapter 9: Reward system Chapter 10: Ventromedial prefrontal cortex Chapter 11: Consumer neuroscience Chapter 12: Social emotions Chapter 13: Paul Glimcher Chapter 14: Russell Poldrack Chapter 15: Neuromorality Chapter 16: Dual systems model Chapter 17: Giorgio Coricelli Chapter 18: Joni Wallis Chapter 19: Present bias Chapter 20: Aldo Rustichini Chapter 21: Antoine Bechara (II) Answering the public top questions about neuroeconomics. (III) Real world examples for the usage of neuroeconomics in many fields. (IV) Rich glossary featuring over 1200 terms to unlock a comprehensive understanding of neuroeconomics. (eBook only). Who will benefit Professionals, undergraduate and graduate students, enthusiasts, hobbyists, and those who want to go beyond basic knowledge or information for any kind of neuroeconomics.

Considers the various topics in health economics including the production of and demand for health; the demand for medical care services; the financing of these services; the markets for physicians, nurses, dentists, hospitals, and drugs; the economics of substance use; health in developing countries; and, the economics of medical technology.

In this chapter we discuss why behavioral studies of irrational biases in non-human primates are important for the field of neuroeconomics. We begin with a review of how behavioral work on choice biases in monkeys is important for understanding the nature of human choice errors. We then provide an introduction to the primate cognition approach, including a short overview of the organization of the primate order. We then briefly review the ecology and cognition of two primate species standardly used as models of human irrational decision making — brown capuchins and rhesus macaques. We next discuss empirical studies demonstrating that monkeys show human-like irrational errors in three of the classic situations in which human participants fall prey to biases: monkeys exhibit framing effects in risky decisions, they show endowment effects, and they are averse to ambiguous outcomes. We conclude our chapter with a discussion of how future work in neuroeconomics can capitalize on these new behavioral findings in monkeys.

Neuroeconomics has emerged as a field of study with the goal of understanding the human decision-making process and the mental consideration of multiple outcomes based on a selected action. In particular, neuroeconomics emphasizes how economic conditions can impact and influence the decision-making process and alternately, how human actions have the power to impact economic conditions. Neuroeconomics and the Decision-Making Process presents the latest research on the relationship between neuroscience, economics, and human decision-making, including theoretical foundations, real-world applications, and models for implementation. Taking a cross-disciplinary approach to neuroeconomic theory and study, this publication is an essential reference source for economists, psychologists, business professionals, and graduate-level students across disciplines.

Is neuroeconomics a flimsy fad likely to pass without leaving a discernible trace in economics? Or is it a promising new field with the potential to enrich and improve economic theory? Neuroeconomics brings together a unique mix of perspectives ranging from philosophy of science to neuroeconomics practice to reflect on the promises and limitations of neuroeconomics for the future of economics. The analyses collected in the volume suggest that although neuroeconomics raises methodological worries that ought to be dealt with, it might contribute to economics in various ways, some perhaps more promising than others. One thing comes out clearly, though: a complete insulation of economics from neuroscience and psychology is likely to do economics more harm than good. This book was originally published as a special issue of Journal of Economic Methodology.

Neuroeconomics has emerged as a paradigmatic field where neuroscience and the social sciences are integrated in one analytical and empirical approach. However, the different disciplines involved often only relate to each other via the shared object of research, and less through the constructing of precise models of integrative mechanisms. Social Neuroeconomics explores the potential of philosophical and methodological reflections in the neurosciences and the social sciences to inform those efforts at cross-disciplinary integration, with a special focus on recent contributions to mechanistic explanations. The collected essays are drawn from the fields of neuroscience, psychology, economics, sociology and philosophy, and examine the ways and methods of constructing unified conceptual frameworks that can guide empirical work and hypothesis building. This is demonstrated in a range of applications, particularly regarding finance and consumer behavior. The concept of the ‘social brain’ is also explored; a multilevel framework in which complex analytical categories such as emotions or socially mediated cognitive processes connect neuronal and social phenomena in specific mechanisms that generate behavior. This book addresses a wide audience across the various disciplines, reaching from the neurosciences to the social sciences and philosophy.

Given the stress of interacting with healthcare systems, be it a result of fear, expense, or confusion, individuals may make decisions that are not in their best interest. There exists an intricate interplay between behavioral economics, neuro economics, health, and healthcare. Until recently, an examination of these interconnected factors has been nonexistent, even though understanding them is vital for proper healthcare administration and top-level patient care. Behavioral Economics and Neuroeconomics of Health and Healthcare explores the underlying psychological and neurological factors that influence individual choices related to health and healthcare. Drawing from a rich pool of research, the book provides a comprehensive understanding of how cognitive biases, emotional factors, and social influences contribute to health-related decisions and outcomes. Not only does the book detail these psychological and neurological drivers of behavior, but it features effective interventions to improve health outcomes and offer practical implications for healthcare practitioners and policymakers.