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Foundations of Neuroeconomic Analysis$
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Paul W. Glimcher

Print publication date: 2010

Print ISBN-13: 9780199744251

Published to Oxford Scholarship Online: January 2011

DOI: 10.1093/acprof:oso/9780199744251.001.0001

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Hard-EU and the Rudiments of a Standard Model

Hard-EU and the Rudiments of a Standard Model

(p.165) 8 Hard-EU and the Rudiments of a Standard Model
Foundations of Neuroeconomic Analysis

Paul W. Glimcher

Oxford University Press

This chapter demonstrates how to directly link a pre-existing utility-based theory of choice to pre-existing neurobiological descriptions of the brain mechanisms that produce choice. It presents, in chronological order, several of the key decision-related neurobiological results from the past three decades. All of these key early results come from single-neuron studies in awake-behaving monkeys. Almost all of these studies were constructed to trace stimulus-response relationships through the nervous system. The chapter shows that they are all compatible with a simple algorithmic instantiation of expected utility theory.

Keywords:   utility theory, theory of choice, hard expected utility, stimulus-response

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