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Neuroeconomics
Decision Making and the Brain
The fully revised second edition of this award-winning title remains the only comprehensive reference on the neurobiology of decision making, edited and authored by the founders of the field
Paul W. Glimcher (Edited by), Ernst Fehr (Edited by)
9780124160088
Hardback, published 3 October 2013
560 pages
27.6 x 21.5 x 3.2 cm, 1.97 kg
"This fully revised, second edition comes five years after the first and reflects the tremendous growth in the field of neurobiology of decision making…The text, uniformly well written and accessible, does not shy away from controversies in the research. This is an excellent text for either a graduate course or a very advanced undergraduate course on the subject." Summing Up: Recommended. --CHOICE Reviews Online, June 2014 "This book describes neuroeconomics, a combination of neuroscience and behavioral economics, with the goal of understanding how economic policies influence motivation on a neuropsychological level and, ultimately, behavior…This is an excellent book…It should be in the libraries of students and professionals interested in neuroeconomics."Rating: 4 Stars --Doody.com, April 4, 2014 Reviews for the First Edition: "Neuroeconomics is a timely collection of papers by leading researchers from both sides of the border between economics and neuroscience…The book should be of interest to anyone who has ever wondered about the mechanics of how decisions are made in the brain, and what it means about human nature." --VINCE CRAWFORD, DISTINGUISHED PROFESSOR OF ECONOMICS, UNIVERSITY OF CALIFORNIA, SAN DIEGO, USA "Economists pride themselves on rigorous parsimony. By taking the neural correlates of behavior into account, potentially explanatory variables explode. This book shows when digging deeper nonetheless pays for economics, and how to do it well." --CHRISTOPH ENGEL, EXECUTIVE DIRECTOR, MAX PLANCK INSTITUTE FOR RESEARCH ON COLLECTIVE GOODS, BONN, GERMANY "For those onlookers who can’t quite accept that neuroscience may provide insight into how we decide what course of action to follow, the contributors to this comprehensive volume offer some very compelling, and very serious experimental and theoretical insights. Highly recommended, and enormously provocative." --FLOYD BLOOM, PROFESSOR EMERITUS, DEPARTMENT OF NEUROPHARMACOLOGY, THE SCRIPPS RESEARCH INSTITUTE, LA JOLLA, USA
In the years since it first published, Neuroeconomics: Decision Making and the Brain has become the standard reference and textbook in the burgeoning field of neuroeconomics. The second edition, a nearly complete revision of this landmark book, will set a new standard. This new edition features five sections designed to serve as both classroom-friendly introductions to each of the major subareas in neuroeconomics, and as advanced synopses of all that has been accomplished in the last two decades in this rapidly expanding academic discipline. The first of these sections provides useful introductions to the disciplines of microeconomics, the psychology of judgment and decision, computational neuroscience, and anthropology for scholars and students seeking interdisciplinary breadth. The second section provides an overview of how human and animal preferences are represented in the mammalian nervous systems. Chapters on risk, time preferences, social preferences, emotion, pharmacology, and common neural currencies—each written by leading experts—lay out the foundations of neuroeconomic thought. The third section contains both overview and in-depth chapters on the fundamentals of reinforcement learning, value learning, and value representation. The fourth section, “The Neural Mechanisms for Choice,? integrates what is known about the decision-making architecture into state-of-the-art models of how we make choices. The final section embeds these mechanisms in a larger social context, showing how these mechanisms function during social decision-making in both humans and animals. The book provides a historically rich exposition in each of its chapters and emphasizes both the accomplishments and the controversies in the field. A clear explanatory style and a single expository voice characterize all chapters, making core issues in economics, psychology, and neuroscience accessible to scholars from all disciplines. The volume is essential reading for anyone interested in neuroeconomics in particular or decision making in general.
Foreword
Introduction
Section 1: The Fundamental Tools of Neuroeconomics
1. Basic Methods from Neoclassical Economics
2. Experimental Economics and Experimental Game Theory
3. Computational Models of Decision-Making from Psychology and Behavioral Economics
4. Estimation and Testing of Computational Models
5. Computational Neuroscience
6. Experimental Methods in Cognitive Neuroscience
7. The Economics of Non-Human Primates
Section 2: Risk, Time, Social and Emotional Preferences
8. Computation of value in simple choices
9. Valuation for Risky and Uncertain Choices
10. Valuation, Intertemporal Choice and Self Control
11. Neuroeconomics of Social Preferences
12. The Study of Emotion in Decision Making
13. Valuation and Common Neural Currencies
14. The pharmacology of economic and social decision-making
Section 3: Learning and Valuation
15. Value Learning through Reinforcement: The Basics of Dopamine and RL
16. Advanced Issues in Reinforcement Learning
17. The Basal Ganglia, Reinforcement Learning and The Encoding of Value
18. From Experienced Utility to Decision Utility
Section 4: The Neural Mechanisms for Choice
19. Neural Mechanisms for Perceptual Decision-Making
20. Value-based Decision-Making
21. Multiple Systems for Valuation and Choice
22. Integrating Benefits and Costs in Decision-Making
23. Dynamic Neuronal Models of Choice
24. Reference Dependent Values and Normalization
Section 5: Brain Circuitry of Social Valuation and Social Choice
25. The Brain Circuity for Strategic Interactions
26. The Brain Circuity for social decision-making in non-human primates
27. Understanding Others: Brain Mechanisms of Theory of Mind and Empathy
Epilogue: Summary, Conclusions, and Prognostications
Appendix: Using Prospect Theory
Subject Areas: Economics [KC], Cognition & cognitive psychology [JMR], Physiological & neuro-psychology, biopsychology [JMM]
