Multiple-self models in neuroeconomics. A methodological critique
AbstractThe idea of multiple-self models in economics is that individual identity is the equilibrium result of the strategic interaction between sub-personal selves. These models fill the gap of standard rational choice theory in explaining inter-temporal inconsistency of choices. This modelling procedure requires an extension of revealed preference theory to the sub-personal level. This extension is grounded in the assumption that sub-personal selves are economic agents to whom analytical tools of microeconomics apply. I claim that this assumption is false and entails the empirical methodology of functional localization that fails to provide robust results.
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Bibliographic InfoPaper provided by ICER - International Centre for Economic Research in its series ICER Working Papers with number 07-2012.
Length: 20 pages
Date of creation: Sep 2012
Date of revision:
Multiple-self; rationality; as if; functional localization; robustness;
This paper has been announced in the following NEP Reports:
- NEP-ALL-2013-11-09 (All new papers)
- NEP-CBE-2013-11-09 (Cognitive & Behavioural Economics)
- NEP-EVO-2013-11-09 (Evolutionary Economics)
- NEP-HPE-2013-11-09 (History & Philosophy of Economics)
- NEP-MIC-2013-11-09 (Microeconomics)
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