2nd Edition

Decision Making and the Brain

Editors: Paul W. Glimcher Ernst Fehr
Print ISBN: 9780124160088
eBook ISBN: 9780123914699
Imprint: Academic Press
Published Date: 27th September 2013
Page Count: 560
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Neuroeconomics is a young, interdisciplinary field dealing with the neurobiology of decision making and how it affects cognitive social interactions between humans and societies/economies. It studies how economic behavior can shape our understanding of the brain, and how neuroscientific discoveries can constrain and guide models of economics. Neuroeconomics studies decision making by using a combination of tools from neuroscience, economics and psychology to avoid the shortcoming that arise from a single perspective approach.

Offering the necessary interdisciplinary approach, Neuroeconomics second edition presents research from neuroscience, psychology, and behavioral economics. Edited by two of the founders of the field, this edition once again offers a current and comprehensive review of the field. With chapters authored by all the major figures, this new edition will serve to advance understanding of the following as related to the human brain through neoclassical economic approaches, behavioral economics, social decision making, valuation, and neural mechanism for choice.

Table of Contents


Using the Book


List of Contributors

Introduction: A Brief History of Neuroeconomics

Neoclassical Economics

Cognitive Neuroscience

Setting the Stage for Neuroeconomics

Two Trends, One Goal




Part I: The Fundamental Tools of Neuroeconomics

Chapter 1. Basic Methods from Neoclassical Economics


Rational Choice and Utility Theory: Some Beginnings

The ordinal revolution and the Logic of Choice

Quantitative Tests of Qualitative Theories: Revealed Preference

Expected Utility Theory

Using Axioms: The Neoclassical Approach in Neuroeconomics


Chapter 2. Experimental Economics and Experimental Game Theory


Game Theory Described

Game Theory Experiments

Neuroeconomics experiments

Towards a Neuroeconomic Theory of Game Playing


Chapter 3. Computational and Process Models of Decision Making in Psychology and Behavioral Economics


Models of Risky Choice

Models of Riskless Choice

Models of Choice Over Time

Computational Process Models

Diffusion Models of Rapid Decisions




Chapter 4. Estimation and Testing of Computational Psychological Models


Behavioral Data to be Modeled

Methods for Estimating Parameters

Model Comparisons




Chapter 5. Introduction to Neuroscience


The Cellular Structure of Information Encoding in the Brain

The Large-Scale Anatomical Structure of the Brain

Organizing Principles of Representation in the Brain

Plasticity and Memory

Summary and Concl


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About the Editor

Paul W. Glimcher

Paul W. Glimcher, Julius Silver Professor of Neural Science, Economics and Psychology at New York University. Director, Center for Neuroeconomics, NYU. A.B. - Princeton University, Magna cum Laude. Ph.D. -University of Pennsylvania, Neuroscience. Fellow of the American Association for the Advancement of Science, The Association for Psychological Science and the McKnight, Whitehall, Klingenstein and McDonnell Foundations. Investigator of the National Eye Institute, The National Institute of Mental Health, the National Institute of Neurological Disorders and Stroke and the National Institute on Aging. Founding President of the Society for Neuroeconomics. Winner of the Margaret and Herman Sokol Faculty Award in the Sciences, 2003. Winner of NYU’s Distinguished (Lifetime Accomplishment) Teaching Award, 2006. Member of the Dana Alliance for Brain Initiatives. Publications in Nature, Science, Neuron, Journal of Neurophysiology, American Economic Review, Quarterly Journal of Economics, Games and Economic Behavior, Vision Research, Experimental Brain Research, MIT Encyclopedia of Cognitive Science, International Encyclopedia of Social and Behavioral Science and numerous edited volumes. He is the author of: Decisions, Uncertainty and, the Brain: The Science of Neuroeconomics, 2003 from MIT Press. Winner of the American Association of Publishers Medical Sciences Book of the Year, 2003. Neuroeconomics. Decision Making and the Brain, 2009 from Academic Press. Winner of the American Association of Publishers Economics and Social Sciences Book of the Year Awards, 2009. Foundations of Neuroeconomic Analysis, 2011 from Oxford University Press. Neuroeconomics. Decision Making and the Brain 2nd ed. 2013. Professor Glimcher’s work has been covered by the popular press in the Wall Street Journal, Time, Newsweek, The Los Angeles Times, Money Magazine, New Scientist, and on National Public Radio, The BBC, Le Monde, Die Welt, Frankfurter Allgemeine, La Vanguardia, Fox News, and NOVA among

Affiliations and Expertise

New York University, Center for Neural Sciences, NY, USA

Ernst Fehr

Affiliations and Expertise

University of Zurich, Department of Economics, Laboratory for the Study of Social and Neural Systems