Two sources of human irrationality: Cognitive dissonance and brain dysfunction
AbstractAkerof and Dickens explored the relevance of cognitive dissonance theory for economics, and the theory is shown here to predict occasional irrational thinking. Secondly, it is proposed that the focus of neuroeconomics on brain dysfunction and the role of neurotranmitters on cognition suggests two ways in which the functioning of the brain can impair rational decision-making.
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Bibliographic InfoArticle provided by Elsevier in its journal Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics).
Volume (Year): 38 (2009)
Issue (Month): 4 (August)
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Web page: http://www.elsevier.com/locate/inca/620175
Neuroeconomics Cognitive dissonance Brain dysfunction;
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- Bhatt, Meghana & Camerer, Colin F., 2005. "Self-referential thinking and equilibrium as states of mind in games: fMRI evidence," Games and Economic Behavior, Elsevier, vol. 52(2), pages 424-459, August.
- Akerlof, George A & Dickens, William T, 1982. "The Economic Consequences of Cognitive Dissonance," American Economic Review, American Economic Association, vol. 72(3), pages 307-19, June.
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