On An Evolutionary Foundation Of Neuroeconomics
AbstractNeuroeconomics focuses on brain imaging studies mapping neural responses to choice behavior. Economic theory is concerned with choice behavior but it is silent on neural activities. We present a game theoretic model in which players are endowed with an additional structure - a simple "nervous system" - and interact repeatedly in changing games. The nervous system constrains information processing functions and behavioral functions. By reinterpreting results from evolutionary game theory (Germano, 2007), we suggest that nervous systems can develop to "function well" in exogenously changing strategic environments. We present an example indicating that an analogous conclusion fails if players can influence endogenously their environment.
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Bibliographic InfoArticle provided by Cambridge University Press in its journal Economics and Philosophy.
Volume (Year): 24 (2008)
Issue (Month): 03 (November)
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Other versions of this item:
- Schipper, Burkhard C, 2008. "On an Evolutionary Foundation of Neuroeconomics," MPRA Paper 8884, University Library of Munich, Germany.
- Burkhard C. Schipper, 2008. "On an Evolutionary Foundation of Neuroeconomics," Working Papers 84, University of California, Davis, Department of Economics.
- Schipper, Burkhard, 2008. "On an Evolutionary Foundation of Neuroeconomics," Working Papers 08-4, University of California at Davis, Department of Economics.
- C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games
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