Is There a Method of Neuroeconomics?

Rustichini, Aldo

doi:10.1257/mic.1.2.48

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American Economic Journal: Microeconomics: Vol. 1 No. 2 (August 2009)

AEJ: Micro Volume. 1, Issue 2 | left

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Is There a Method of Neuroeconomics?

Article Citation

Rustichini, Aldo. 2009. "Is There a Method of Neuroeconomics?." American Economic Journal: Microeconomics, 1(2): 48-59.

DOI: 10.1257/mic.1.2.48

Abstract

This note tries to state, precisely, the method of neuroecomics, and is based on the discussion in B. Douglas Bernheim's (2009) appraisal. We claim that the theory formulates hypotheses modeling the choice process as an algorithmic procedure. The hypothesis of the algorithmic procedure imposes restriction on the neural processes implementing it, and, so, a joint test of the hypothesis based on behavioral and neural data is possible, increasing the statistical and the explanatory power of the theory. (JEL B41, D87)

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Authors

Rustichini, Aldo (U MN)

JEL Classifications

B41: Economic Methodology
D87: Neuroeconomics

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