Towards a new brain science: lessons from the economic collapse
AbstractEconomies are complex man-made systems where organisms and markets interact according to motivations and principles not entirely understood yet. The increasing dissatisfaction with the postulates of traditional economics i.e. perfectly rational agents, interacting through efficient markets in the search of equilibrium, has created new incentives for different approaches in economics. The science of complexity may provide the platform to cross disciplinary boundaries in seemingly disparate fields such as brain science and economics. In this paper we take an integrative stance, fostering new insights into the economic character of neural activity. The objective here is to precisely delineate common topics in both neural and economic science, within a systemic outlook grounded in empirical basis that jolts the unification across the science of complex systems. It is argued that this mainly relies on the study of the inverse problem in complex system with a truly Bayesian approach.
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Bibliographic InfoPaper provided by arXiv.org in its series Papers with number 1205.2999.
Date of creation: May 2012
Date of revision: Jun 2012
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Web page: http://arxiv.org/
This paper has been announced in the following NEP Reports:
- NEP-ALL-2012-05-22 (All new papers)
- NEP-EVO-2012-05-22 (Evolutionary Economics)
- NEP-HME-2012-05-22 (Heterodox Microeconomics)
- NEP-HPE-2012-05-22 (History & Philosophy of Economics)
- NEP-NEU-2012-05-22 (Neuroeconomics)
- NEP-PKE-2012-05-22 (Post Keynesian Economics)
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