What Are the Components of Choice?
This chapter presents a neuroeconomic model that uses two basic concepts: the efficacy of a decision-maker's performance and effectiveness of a decision-maker's performance. Neuroeconomic efficacy provides a method in the madness. Efficacy evaluations use economic concepts to describe some necessary mental capacities which, when impaired, lead to irrational behavior. By contrast, neuroeconomic effectiveness describes the madness in the method: the factors that economic efficacy overlooks.
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