Summary of Decisions, Uncertainty, and the Brain
The Science of Neuroeconomics
The development of neuroeconomics: Was Descartes right – or does economics have a better way to explain behavior?
This book offers an outstanding survey of philosophy, psychology, brain science, economics, and the field that brings them all together, neuroeconomics. Paul W. Glimcher contends that Descartes’ deterministic theory that simple behavior operates according to reflexes is influential far beyond its merits. He describes numerous experiments that support a very different understanding of behavior, which says that organisms seeking to fulfill their own goals (mostly to perpetuate their genes) must “choose” behaviors that somehow account for risk and return. In other words, they maximize “inclusive fitness” under conditions of uncertainty. Laboratory experiments and field research by behavioral ecologists lend considerable support to this view. getAbstract recommends this solid, layman’s introduction to neuroeconomics and a remarkable series of discoveries.
In this summary, you will learn
- How reflex theory was developed;
- Why probability theory is important in understanding behavior; and
- What the new science of neuroeconomics provides.
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Public Affairs, 2016