Neuroeconomics

Definition of Neuroeconomics

Neuroeconomics, an interdisciplinary field which clarifies what are the factors that affect human decision making, ability choose and handle multiple alternatives and lastly the execution of those actions. In Neuroeconomics, it is described that how economics concepts can be the reason of shaping and understanding brain, and also the evolution in neuro-scientific can help and guide the models of economics.

Books on Neuroeconomics

Book 1:

Neuroeconomics: Decision Making and the Brain Edited by Paul W. Glimcher, Ernst Fehr (published by Academic Press, 2013)

Book 2:

Neuroeconomics: A Guide to the New Science of Making Choices By Peter Politser Department of Family Medicine Brown University (published by Oxford University Press, 2008)

How Neuroeconomics works?

For example, when economists consider about gambling, they make the assumption that humans combine the chances of winning with expectations that how they will react after losing or even winning. Neuroeconomics suggests two ways; one is to make a guess how likely one is to win or lose, and another for reviewing hedonic pleasure and pain of winning and losing.

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