Neuroeconomics: Difference between revisions
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''Behavioural economics'' | ''Behavioural economics'' | ||
Neuroeconomics offers explanations for some apparently 'irrational' decision making in the economy, based on the insights of brain science | Neuroeconomics offers explanations for some apparently 'irrational' decision making in the economy, based on the insights of brain science. | ||
For example, individuals are often motivated to make decisions or engage in activities which result in the release of dopamine, even though those decisions or activities are not be 'wealth maximising'. | |||
This dimension of motivation is not explicitly recognised in classical economic models. | |||
Revision as of 14:26, 1 May 2018
Behavioural economics
Neuroeconomics offers explanations for some apparently 'irrational' decision making in the economy, based on the insights of brain science.
For example, individuals are often motivated to make decisions or engage in activities which result in the release of dopamine, even though those decisions or activities are not be 'wealth maximising'.
This dimension of motivation is not explicitly recognised in classical economic models.
