What neuroeconomics does really mean?

Revue d'Economie Politique

Volumn 118, Issue 1, 2008, Pages 7-34

  Schmidt, Christian ^a  

^a UNIVERSITÉ PARIS DAUPHINE   (France)

Author keywords

Behavioral economics; Decision making; Neuroeconomics; Non cooperative games; Risk; Uncertainty

Indexed keywords

EID: 45349087257     PISSN: 03732630     EISSN: None     Source Type: Journal    
DOI: 10.3917/redp.181.0007     Document Type: Article

References (83)

1. ANDREONI J. [2002], "Giving according to GARP: An experimental study of rationality and altruism". Econometrica, 70, p. 737-53.
2. AUMANN R. J. [1999], "Interactive epistemology I: Knowledge". International Journal of Game Theory, 28 (3), p. 263-300.
3. BACHARAH M. [2006], "Beyond individual choice: Teams and frames in game theory". Edited by Gold, N. and Suden, R. Princeton, Princeton University Press.
4. BECHARA A., TRANEL D., DAMASIO H. [2000], "Characterization of the decision making deficit of patients with ventromedial prefrontal cortex lesions". Brain, 123, p. 2189-202.
5. BECHARA A., DAMASIO H., TRANEL D., ANDERSON S. W. [1998], "Dissociation of working memory from decision making within the human prefrontal cortex". The Journal of Neuroscience, 18, p. 428-437.
6. BECHARA A., DAMASIO H., DAMASIO A. R., LEE G. p. [1999], "Different contributions of the human amygdala and ventromedial prefrontal cortex to decision-making". The Journal of Neuroscience, 19 (13), p. 5473-5481.
7. BREITER H. C., AHARON I., KAHNEMAN D., DALE A., SHIZGAL P. [2001, "Functional imaging of neural responses to expectancy and spin history and normalized to stereotaxic Talairach coordinates experience of monetary gains and losses". Neuron, 30, p. 619-639.
8. CABANTOUS L., HILTON D. [2006], "From ambiguity aversion to attitudes towards ambiguity: Contributions of a psychological perspective to economics". La Revue Economique, 57 (2), p. 259-280.
9. CAMERER COLIN. F. [2003], "Behavioral game theory: Experiments on strategic interaction". Princeton, Princeton University Press.
10. CAMERER C., LOEWENSTEIN G., PRELEC D. [2005], "Neuroeconomics: How neuroscience can inform economics". Journal of Economic Literature, 43, p. 9-64.
11. DAMASIO A. [1994], "Descartes' error emotion, reasons and human brain". New York G.P. Putnam's Sons.
12. DAW N. D., NIV Y., DAYAN P. [2005], "Uncertainty based competition between prefrontal and dorsolateral striatal systems for behavioral control". Nat Neurosci, 8 (12), p. 1704-1711.
13. DEHAENE S., KERSZBERG M., CHANGEUX J. P. [1998], "A neuronal model of a global workspace in effortful cognitive tasks". Proc Natl Acad Sci U S A, 95 (24), p. 14529-14534.
14. DELGADO M. R., FRANK R. H., PHELPS E. A. [2005], "Perceptions of moral character modulate the neural systems of reward during the trust game". Nature Neuroscience, 8, 11, p. 1611-1618.
15. DE MARTINO B., KUMARAN D., BEN SEYMOUR, RAYMOND J. DOLAN [2006], "Frames, Biases, and rational decision-making in the human brain". Science, 313, 5787, p. 684-687.
16. DE QUERVAIN D., FISCHBACHER U., TREYER, V., SCHELLHAMMER M., SCHNYDER U., BUCK A., FEHR E. [2004], "The neural basis of altruistic punishment". Science, 305, 5688, p. 1254-1258.
17. EDELMAN G. [2004], "Wisdr than the sky. A revolutionary view of consciousness". New-Haven, YALE, University press.
18. EDEWORTH F.Y. [1881], "Mathematical psychics, an essay on the applications of mathematics to the moral sciences". London, Kegan Paul.
19. ELLSBERG D. [1961], "Risk, ambiguity and the Savage axioms". Quarterly Journal of Economics, 75, p. 643-669.
20. FEHR E., SCHMIDT K. [1999], "A theory of fairness, competition and cooperation". Quaterly Journal of Economics, 114, p. 817-868.
21. FISHBURN P. [1983], "Transitive measurable utility". Journal of Economic Theory, 31, p. 293-317.
22. FISHBURN P. [1989], "Retrospective on the utility theory of Von Neumann and Morgenstern". Journal of Risk and Uncertainty, 2, p. 127-157.
23. GALLAGHER H. L., JACK A. I., ROEPSTROFF A., FRITH C. D. [2002], "Imaging the intentional stance in a competitive game". NeuroImage, 16, p. 814-821.
24. GILBOA I. [1987], "Expected utility theory with purely subjective non-additive probabilities". Journal of Mathematical Economics, 16, p. 65-88.
25. GIGERENZER G. [1991], "How to make cognitive illusions disappear: Beyond heuristics and biases". In W. Stroebe & M. Hewstone (eds.), European Review of Social Psychology, 2, 83-115. Chichester, England: Wiley.
26. GIGERENZER G. [1996], "On narrow norms and vague heuristics: A rebuttal to Kahneman and Tversky". Psychological Review, 103, p. 592-596.
27. GLIMCHER P. W., MICHAEL C., DORRIS, HANNAH M. BAYER [2005], "Physiological utility theory and the nouroeconomics of choice". Games and Economic Behavior, 52, p. 213-256.
28. GLIMCHER P. W. [2003], "Decisions, uncertainty, and the brain: the science of neuroeconomics". Cambridge, MA, MIT Press.
29. GLIMCHER P. W., RUSTICHINI A. [2004], "Neuroeconomics: the consilience of brain and decision". Science, 306, p. 447-452.
30. HAYEK F. A. von [1952], "The sensory order: an inquiry into the foundations of theoretical psychology", London, Routledge and Kegan Paul.
31. HENRICH J. [2000], "Does culture matter in economic behavior? Ultimatum game bargaining among the Machiguenga of the Peruvian amazon". American Economic Review, 90, p. 973-79.
32. HENRICH J., BOYD R., BOWLES S., CAMERER C., FEHR E., GINTIS H., MCELREATH R., ALVARD M., BARR A., ENSMINGER J., HILL K., GIL-WHITE F., GURVEN M., MARLOWE F., PATTON J. Q., SMITH N., TRACER N. [2002], "Economic man in cross cultural perspective: Behavioral experiments in 15 small-scale societies". Working paper.
33. HOGARTH R. M., KUNREUTHER H. C. [1989], "Risk, ambiguity, and insurance". Journal of Risk and Uncertainty, 2, p. 5-35.
34. IACOBONI M., MOLNAR-SZAKACS I., GALLESE V., BUCCINO G., MAZZIOTTA J. C., RIZZOLATTI G. [2005], "Grasping the intentions of others with one's own mirror neuron system". PLoS Biology, 3, 3, p. 529-535.
35. JENSEN K., CALL J., TOMASELLO M. [2007], "Chimpanzees are rational maximizers in an ultimatum game". Science, 318, 5847, p. 107-109.
36. JEVONS W. S. [1871], [1857], "The theory of political economy". London, Macmillan.
37. JOHNSON-LAIRD P. N. [1983], "Mental models: towards a cognitive science of language, inference, and consciousness". Cambridge, Cambridge U.P.
38. JOHNSON-LAIRD P. N., BYRNE R. M. J. [2002], "Conditionals: A theory of meaning, pragmatics, and inference". Psychological Review, 109, p. 646-678.
39. KAHNEMAN D., TVERSKY A. 119791, "Prospect theory: an analysis of decision under risk2:. [I Econometrica I], 47, p. 263-291.
40. KAHNEMAN D. [1996], "New challenges to the rationality Assumption; in the rational foundations of economic behavior". Edited by: Kenneth J. Arrow, Enrico Colombatto, Mark Perlman and Christian Schmidt., London, Mac Millan.
41. KAHNEMAN D., RICHARD H. THALER [1996], "Utility maximization and experienced utility". Journal of Economic Perspectives, 20, 1, p. 221-234.
42. KING-CASAS, TOMLIN B. D., ANEN C., CAMERER C. F., QUARTZ S. R., MONTAGUE P. R. [2005], "Getting to know you: reputation and trust in a two-person economic exchange". Science, 308, p. 78-83.
43. KNUTSON B., ADAMS C. M., FONG G. W., HOMMER D. [2001], "Anticipation of increasing monetary reward selectively recruits nucleus accumbens". J. Neurosci, 21, RC159.
44. KNUTSON B., TAYLOR J., KAUFMAN M. T., PETERSON R., GLOVER G. [2005], "Distributed neural representation of expected value". J. Neurosci, 25, p. 4806-4812.
45. KNUTSON B., RICK S., WIMMER G. E., PRELEC D., LOEWENSTEIN G. [2000], "Neural predictors of purchases". Neuron,, 53 (1), p. 147-156.
46. KUHNEN C. M., KNUTSON B. [2005], "The neural basis of financial risk-taking". Neuron, p. 47, 763-770.
47. KÖRDING K. P., TENENBAUM J. B., SHADMEHR R. [2007], "The dynamics of memory as a consequence of optimal adaptation to a changing body". Nature Neuroscience, 10, p. 779-786.
48. LEDOUX J. E. [1996], "The emotional brain". New York, Simon and Schuster.
49. LOOMES S., SUGDEN R. [1987], "Some implications of a more general Form of regret theory". Journal of Economic Theory, 41, p. 270-287.
50. MACHINA M. [1982], "Expected utility' analysis without the independence axiom". Econometrica, 50, p. 277-323.
51. MCCABE K., DANIEL HOUSER, LEE RYAN, VERNON SMITH, THEODORE TROUARD [2001], "A functional imaging study of cooperation in two-person reciprocal exchange". PNAS, p. 98.
52. MCCLURE S. M., DAVID I. LAIBSON, GEORGE LOEWENSTEIN, COHEN J. D. [2004], "Separate neural systems value immediate and delayed monetary rewards". Science, 306, 5695, p. 503-507.
53. PAULUS M. P., ROGALSKY C., SIMMONS A. [2003], "Increased activation in the right insula during risk-taking decision making is related to harm avoidance and neuroticism". NeuroImage, 19, p. 1439-1448.
54. PLATT M. L., GLIMCHER P. W. [1997], "Responses of intra-parietal neurons to saccadic targets and visual distractors". J. Neurophysiol, 78, p. 1574-1589.
55. PLATT M. L., GLIMCHER P. W. [1999], "Neural correlates of decision variables in parietal cortex". Nature, 400, p. 233-238
56. QUIGGIN J. [1998], "Individual and household willingness to pay for public goods". American Journal of Agricultural Economics, 80, p. 58-63.
57. RABIN M. [1993], "Incorporating fairness into game theory and economics". American Economic Review, 83:5, p. 1281-302.
58. RILLING J. K, SANFEY A. G., JESSICA ARONSON J. A., NYSTROM L. E. and COHEN J. D. [2004], "The neural correlates of theory of mind within interpersonal interactions". NeuroImage, 22, p. 1694-1703.
59. RIZZOLATTI G., FADIGA L., GALLESE V., FOGASSI L. [1996], "Premotor cortex and the recognition of motor actions". Cog. Brain Res, 3, p. 131-141.
60. RIZZOLATTI G., GALLESE V. [2004], "Do perception and action result from different brain circuits? The three visual systems hypothesis". L. van Hemmen and T Sejnowski (eds.), Problems in systems neuroscience. Oxford: Oxford University Press.
61. ROGERS, R. D., OWEN, A. M., MIDDLETON, H. C., WILLIAMS E. J., PICARD, J. D., SAHARIAN, B. J., ROBBINS, T. W. [1999] "choosing between small, likely rewards and large unlikely rewards activates inferior and orbital prefrontal cortex", J. Neurosci. 20, p. 9029-9038.
62. RUSTICHINI A. [2005], "Neuroeconomics: present and future". Games and Economic Behavior, 52, p. 201-212.
63. RUSTICHINI A., DICKHAUT J., GHIRARDATO P., SMITH K., PARDO J. V. [2005], "A brain imaging study of the choice procedure". Games and Economic Behavior, 52, p. 257-282.
64. SAMET D. [1996], "Hypothetical knowledge and games with perfect information". Games and Economic Behavior, 17, p. 230-251.
65. SANFEY A. G., RILLING J. K., ARONSON J. A., NYSTROM L. E., COHEN J. D. [2003], "The neural basis of economic decision-making in the ultimatum game". Science, 300, p. 1755-1758.
66. SANFEY A. G. [2007], "Social Decision-Making: insights from game theory and neuroscience". Science, 318, 5850, p. 598-602.
67. SCHMEIDLER D. [1982], "Subjective probability without additivity". Working paper, Foerder Institute for Economic Research, Tel Aviv University.
68. SCHMEIDLER D. [1989], "Subjective probability and expected utility without additivity". Econometrica, 57, p. 571-587.
69. SHACKLE G. L. S. [1954], "The complex nature of time as a concept in economics". Economia Internazionale, 4, p. 743-757.
70. SCHMIDT C. [2006], "Psychologie cognitive et analyse des décisions économiques". Revue Française d'économie, 3 (20), p. 3-52.
71. SCHMIDT C. [2006], "Game theory and players' beliefs on the play". Arena ans Festrré (eds.). Knowledge, beliefs ans economics, cheltenham, E. Elgar.
72. SHALLICE T, BURGESS P. W. [1993], "Supervisory control of action and thought selection". Attention, selection, awarement and control, Baddeley A, Weiskrantz L, (eds.), 171-187. Oxford: Clarendon.
73. SIMON H. A. [1979], "Models of thought". New Haven, Yale University Press.
74. STALNAKER R. C., THOMASON R. [1970], "A semantical analysis of conditional logic". Theoria, 36, p. 246-281.
75. SUGDEN R. [1992], "Inductive reasoning in repeated Games". R. Selten (ad.), Rational Interaction: Essays in Honor of John C. Harsanyi. Berlin: Springer-Verlag, p. 201-21.
76. THALER RICHARD H. [1985], "Mental accounting and consumer choice". Marketing Science, 4, p. 199-214.
77. THALER RICHARD H. [1999], "Mental accounting matters". Journal of Behavioral Decision Making, 12 (3), p. 183-206.
78. TOMLIN D., KAYALI M. A., KING-CASSAS B., ANEN C., CAMERER C. F., QUARTZ S. T., MONTAGUE P. R. [2006], "Agent-Specific Responses in the cingulate cortex during economic exchanges". Science, 312, 5776, p. 1074-1050.
79. TVERSKY A., KAHNEMAN D. [1992], "Advances in prospect theory: cumulative representation of uncertainty". Journal of Risk and Uncertainty, 5, p. 297-323.
80. WAKKER P. [1992], "Counterexamples to Segal's measure representation theorem". Journal of Risk and Uncertainty, 6, p. 91-98.
81. WAKKER P. [1994], "Separating marginal utility and probabilistic risk aversion". Theory and Decision, 36, p. 1-44.
82. YU A. J., DAYAN P. [2005], "Uncertainty, Neuromodulation and attention", Neuron, 46 p. 681-692.
83. WOMELSDORF T., JAN-MATHIS SCHOFFELEN, ROBERT OOSTENVELD, WOLF SINGER, ROBERT DESIMONE, ANDREAS K. ENGEL, PASCAL FRIES [2007], "Modulation of neuronal interactions through neuronal synchronization". Science, 316, 5831, p. 1609-1612.