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- W1802683721 abstract "Neuroeconomics is a developing field that utilizes methodologies from neuroscience, psychology and economics to study the brain networks that are activated during decision making. In this chapter, we outline the primary methods used by neuroeconomics and examine how this field can help build better models of decision-making. First, we review research related to valuation processes and biases that occur in the brain, and discuss the properties of the human reward circuitry which reacts to both the anticipation and receipt of financial and hedonic rewards. Next, we discuss the balance between emotional and cognitive control areas in the brain, which have a central role in behavioral framing effects. We conclude with a discussion of how a better understanding of the brain processes can increase our knowledge of why decision-making in the real world often strays quite far from the predictions made by standard utility maximization accounts.Keywords:neuroeconomics;ris;valuation;framing effect;emotion;decision making" @default.
- W1802683721 created "2016-06-24" @default.
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- W1802683721 date "2011-01-14" @default.
- W1802683721 modified "2023-09-28" @default.
- W1802683721 title "Neuroeconomics Insights for Decision Analysis" @default.
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- W1802683721 doi "https://doi.org/10.1002/9780470400531.eorms0567" @default.
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