Jump to ContentJump to Main Navigation
Emotion and Decision-making Explained$
Users without a subscription are not able to see the full content.

Edmund T. Rolls

Print publication date: 2013

Print ISBN-13: 9780199659890

Published to Oxford Scholarship Online: January 2014

DOI: 10.1093/acprof:oso/9780199659890.001.0001

Show Summary Details
Page of

PRINTED FROM OXFORD SCHOLARSHIP ONLINE (www.oxfordscholarship.com). (c) Copyright Oxford University Press, 2019. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in OSO for personal use. date: 22 October 2019

Neuroeconomics and decision-making

Neuroeconomics and decision-making

Chapter:
(p.454) 9 Neuroeconomics and decision-making
Source:
Emotion and Decision-making Explained
Author(s):

Edmund T. Rolls

Publisher:
Oxford University Press
DOI:10.1093/acprof:oso/9780199659890.003.0009

Classical microeconomics is reviewed to provide a background to neuroeconomics, which is then considered in terms of how expected value and outcome value are represented in the brain and used as inputs to a value-based decision-making mechanism. It is argued that evolution sets the value coded for by different genes in such a way that they compete appropriately for behaviour using a common scale but without conversion into a common currency. Classical microeconomics with its emphasis on a few axioms and rules may be replaced by a different type of understanding based in the behavioural and neuroeconomics approach, which shows how evolution has identified many different types of value and heuristics about how to manage decision-making,

Keywords:   economics, microeconomics, neuroeconomics, prospect theory, behavioural economics, value, common scale of value, orbitofrontal cortex

Oxford Scholarship Online requires a subscription or purchase to access the full text of books within the service. Public users can however freely search the site and view the abstracts and keywords for each book and chapter.

Please, subscribe or login to access full text content.

If you think you should have access to this title, please contact your librarian.

To troubleshoot, please check our FAQs , and if you can't find the answer there, please contact us .