Neuroeconomics: "Great Expectations" or "Much Ado about Nothing"?
| Authors | |
|---|---|
| Year of publication | 2014 |
| Type | Article in Proceedings |
| Conference | Current Trends in Public Sector Research |
| MU Faculty or unit | |
| Citation | |
| Field | Management and administrative |
| Keywords | Neuroeconomics; Behavioral Economics; Experimental Economics |
| Description | Over the past decade, we had a chance to observe a formation and steady grow of new science called neuroeconomics. Since its beginnings, it has attracted much attention. The novel methodology which the science brings has been by one side perceived as "revolutionary", while the other part of scholars has doubted its relevance and possible contribution to the economic theory. The aim of this paper is to introduce neuroeconomics and main controversy that relates to this science and to discuss possible contribution of neuroeconomics to economic theory. The paper begins with a short explanation and history of neuroeconomics, which is followed by a description of tools that are commonly used in the research. The next section is devoted to the discussion over a potential contribution of neuroeconomics to the economic theory. Main arguments in favor, as same as against, neuroeconomics are presented. The last sections introduce some of the findings made on the field of neuroeconomics and it shows how these findings are relevant to the economic theory. |
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