Neuroeconomics: A Critique of 'Neuroeconomics: A Critical Reconsideration'
AbstractSome economists believe that the work of neuroeconomists threatens the theory of economics. Glenn Harrison’s paper “Neuroeconomics: A Critical Reconsideration” attempts to set the score, though the points he makes are hidden behind the fumes of his anger (Glenn W. Harrison 2008). The field of neuroeconomics is barely into its teenage years; and it is trying to do what? Redesign the field of economics developed over a hundred years? No, that is not what neuroeconomics is trying to do, in spite of all the efforts of some economists trying to place it into that shoebox. Neuroeconomics is a Mendelian-Economics of sort; it is a science that is able to generate data by fixing the environment to some degree and looking to see each individual’s choices from the initiation of the decision-making process to its outcome. Standard economics (SE), on the other hand, looks at the average of the outputs of many individuals and proposes how the human chose those outcomes. The two fields, neuroeconomics and SE, are evaluating two sides of the same coin; one with and the other without ceteris paribus; they are not necessarily in conflict with one another.
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Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 7928.
Date of creation: 25 Mar 2008
Date of revision:
A debate over the field of Neuroeconomics;
Other versions of this item:
- Stanton, Angela A., 2008. "Neuroeconomics: A Critique of ‘Neuroeconomics: A Critical Reconsideration’," MPRA Paper 13957, University Library of Munich, Germany, revised 10 Mar 2009.
- C90 - Mathematical and Quantitative Methods - - Design of Experiments - - - General
- D01 - Microeconomics - - General - - - Microeconomic Behavior: Underlying Principles
- B41 - Schools of Economic Thought and Methodology - - Economic Methodology - - - Economic Methodology
This paper has been announced in the following NEP Reports:
- NEP-ALL-2008-04-15 (All new papers)
- NEP-CBE-2008-04-15 (Cognitive & Behavioural Economics)
- NEP-EVO-2008-04-15 (Evolutionary Economics)
- NEP-EXP-2008-04-15 (Experimental Economics)
- NEP-HPE-2008-04-15 (History & Philosophy of Economics)
- NEP-NEU-2008-04-15 (Neuroeconomics)
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
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