Neuroeconomics, Judgment, and Decision Making

Neuroeconomics, Judgment, and Decision Making
Author: Evan A. Wilhelms
Publisher: Psychology Press
Total Pages: 310
Release: 2014-07-11
Genre: Psychology
ISBN: 1317652746

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This volume explores how and why people make judgments and decisions that have economic consequences, and what the implications are for human well-being. It provides an integrated review of the latest research from many different disciplines, including social, cognitive, and developmental psychology; neuroscience and neurobiology; and economics and business. The book has six areas of focus: historical foundations; cognitive consistency and inconsistency; heuristics and biases; neuroeconomics and neurobiology; developmental and individual differences; and improving decisions. Throughout, the contributors draw out implications from traditional behavioral research as well as evidence from neuroscience. In recent years, neuroscientific methods have matured, beyond being simply correlational and descriptive, into theoretical prediction and explanation, and this has opened up many new areas of discovery about economic behavior that are reviewed in the book. In the final part, there are applications of the research to cognitive development, individual differences, and the improving of decisions. The book takes a broad perspective and is written in an accessible way so as to reach a wide audience of advanced students and researchers interested in behavioral economics and related areas. This includes neuroscientists, neuropsychologists, clinicians, psychologists (developmental, social, and cognitive), economists and other social scientists; legal scholars and criminologists; professionals in public health and medicine; educators; evidence-based practitioners; and policy-makers.

Neuroeconomics

Neuroeconomics
Author: Paul W. Glimcher
Publisher: Academic Press
Total Pages: 557
Release: 2008-10-10
Genre: Medical
ISBN: 008092106X

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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

Neuroeconomics

Neuroeconomics
Author: Paul W. Glimcher
Publisher: Academic Press
Total Pages: 606
Release: 2013-08-13
Genre: Psychology
ISBN: 0123914698

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In the years since it first published, Neuroeconomics: Decision Making and the Brain has become the standard reference and textbook in the burgeoning field of neuroeconomics. The second edition, a nearly complete revision of this landmark book, will set a new standard. This new edition features five sections designed to serve as both classroom-friendly introductions to each of the major subareas in neuroeconomics, and as advanced synopses of all that has been accomplished in the last two decades in this rapidly expanding academic discipline. The first of these sections provides useful introductions to the disciplines of microeconomics, the psychology of judgment and decision, computational neuroscience, and anthropology for scholars and students seeking interdisciplinary breadth. The second section provides an overview of how human and animal preferences are represented in the mammalian nervous systems. Chapters on risk, time preferences, social preferences, emotion, pharmacology, and common neural currencies—each written by leading experts—lay out the foundations of neuroeconomic thought. The third section contains both overview and in-depth chapters on the fundamentals of reinforcement learning, value learning, and value representation. The fourth section, “The Neural Mechanisms for Choice, integrates what is known about the decision-making architecture into state-of-the-art models of how we make choices. The final section embeds these mechanisms in a larger social context, showing how these mechanisms function during social decision-making in both humans and animals. The book provides a historically rich exposition in each of its chapters and emphasizes both the accomplishments and the controversies in the field. A clear explanatory style and a single expository voice characterize all chapters, making core issues in economics, psychology, and neuroscience accessible to scholars from all disciplines. The volume is essential reading for anyone interested in neuroeconomics in particular or decision making in general. Editors and contributing authors are among the acknowledged experts and founders in the field, making this the authoritative reference for neuroeconomics Suitable as an advanced undergraduate or graduate textbook as well as a thorough reference for active researchers Introductory chapters on economics, psychology, neuroscience, and anthropology provide students and scholars from any discipline with the keys to understanding this interdisciplinary field Detailed chapters on subjects that include reinforcement learning, risk, inter-temporal choice, drift-diffusion models, game theory, and prospect theory make this an invaluable reference Published in association with the Society for Neuroeconomics—www.neuroeconomics.org Full-color presentation throughout with numerous carefully selected illustrations to highlight key concepts

Neuroeconomics

Neuroeconomics
Author: Eric J. Johnson
Publisher: Elsevier Inc. Chapters
Total Pages: 33
Release: 2013-08-13
Genre: Medical
ISBN: 0128073101

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This chapter reviews models of choice on two levels: The first concerns the descriptions of choice and their evolution from normative models of how choices should be make to more behaviorally realistic models, more consistent with data showing that choice depends heavily on context. We present brief overviews of risky and riskless choice models and data and for choice over time. We then turn to computational process models, a more recent class of models that make prediction for multiple properties of the decision process beyond simply what is chosen, including predicting the distribution of errors and decision times.These models are typically applied to simpler choices, but have found great use in contemporary neuroscience.

Neuroeconomics

Neuroeconomics
Author: Martin Reuter
Publisher: Springer
Total Pages: 500
Release: 2016-10-06
Genre: Psychology
ISBN: 364235923X

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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.

Neuroeconomics

Neuroeconomics
Author: Peter Politser
Publisher: Oxford University Press
Total Pages: 240
Release: 2008-03-12
Genre: Psychology
ISBN: 0190294221

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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.

Neuroeconomics and the Decision-Making Process

Neuroeconomics and the Decision-Making Process
Author: Christiansen, Bryan
Publisher: IGI Global
Total Pages: 377
Release: 2016-03-17
Genre: Psychology
ISBN: 1466699906

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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.

Individual Differences in Judgement and Decision-Making

Individual Differences in Judgement and Decision-Making
Author: Maggie E. Toplak
Publisher: Psychology Press
Total Pages: 260
Release: 2016-11-25
Genre: Psychology
ISBN: 1317265319

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Children face an overwhelming amount of information and a range of different choices every day, and so there has never been a more important time to understand how children learn to make judgments and decisions in our modern world. Individual Differences in Judgment and Decision-Making presents cutting-edge developmental research to advance our knowledge and understanding of how these competencies emerge. Focusing on the role of individual differences, the text provides a complementary theoretical approach to understanding the development of judgment and decision-making skills, and how and why these competencies vary within and between different periods of development. Sampling a diverse set of developmental paradigms and measures, as well as considering typical and atypically developing samples, this volume provokes thinking about how we can support our children and youth to help them make better choices. Drawing on the expertise of a range of international contributors, this book will be of interest to students and researchers of thinking and reasoning from both cognitive and developmental psychology backgrounds.

Judgment and Decision-Making

Judgment and Decision-Making
Author: Nancy S. Kim
Publisher: Bloomsbury Publishing
Total Pages: 322
Release: 2017-10-19
Genre: Psychology
ISBN: 1137269561

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How do we make the judgments that inform our lives? Is there any way of consciously removing bias from the choices we make? What do our everyday personal decisions have in common with those made by groups, companies, and even nations? In this engaging and innovative textbook, Nancy Kim presents a multidisciplinary introduction to the dynamic field of judgment and decision-making. This lucidly written text delivers insights from cognitive psychology, aptly combining with interdependent findings from fields as diverse as neuropsychology, behavioural economics, social, developmental and clinical psychology, and philosophy. Offering not only a comprehensive explanation of the neurological structures and cognitive processes that underlie how we make decisions and form judgments in our everyday lives, readers can expect to learn the implications of these decisions upon an individual's prospects for health and longevity. Understanding behaviour is a central aspect of inquiry in the psychology discipline and as such this book is an essential companion for students taking undergraduate psychology, cognitive psychology and cognitive neuroscience courses; particularly those which include a module in judgment and decision-making. This text may also be helpful for undergraduate and postgraduate business courses on the subject.

Foundations of Neuroeconomic Analysis

Foundations of Neuroeconomic Analysis
Author: Paul W. Glimcher
Publisher: OUP USA
Total Pages: 488
Release: 2011
Genre: Education
ISBN: 0199744254

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Neuroeconomics has emerged at the border of the social and natural sciences. This book argues that a meaningful interdisciplinary synthesis of the study of human and animal choice is not only desirable, but also well underway, and so it is time to develop formally a foundational approach for the field.