- Decision-making and neuroeconomics
- Book title
- Encyclopedia of life sciences
- New York: Wiley
- Document type
- Faculty of Science (FNWI)
- Swammerdam Institute for Life Sciences (SILS)
Decision-making is the process of choosing one out of several alternatives. The study of decision-making is inherently multidisciplinary and can be approached from many different angles. Traditional accounts in economics and biology have a normative flavour and prescribe, rather than describe decision-making. Recently, however, efforts in psychology and behavioural ecology have resulted in the development of theories with higher descriptive validity. Furthermore, neuroeconomics is a new interdisciplinary field that combines contributions from economics, biology and psychology and aims to identify a biologically valid, mechanistic, mathematical and behavioural theory of choice and exchange. Recent neurophysiological advances have further deepened our understanding of the mechanistic implementation of a decision in the brain.
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