IDEAS home Printed from https://ideas.repec.org/p/ags/aaea09/49151.html
   My bibliography  Save this paper

Using Biomedical Technologies to Inform Economic Modeling: Challenges and Opportunities for Improving Analysis of Environmental Policies

Author

Listed:
  • Roe, Brian E.
  • Haab, Timothy C.

Abstract

Advances in biomedical technology have irrevocably jarred open the black box of human decision making, offering social scientists the potential to validate, reject, refine and redefine the individual models of resource allocation that form the foundation of modern economics. In this paper we (1) provide a comprehensive overview of the biomedical methods that may be harnessed by economists and other social scientists to better understand the economic decision making process; (2) review research that utilizes these biomedical methods to illuminate fundamental aspects of the decision making process; and (3) summarize evidence from this literature concerning the basic tenants of neoclassical utility that are often invoked for positive welfare analysis of environmental policies. We conclude by raising questions about the future path of policy related research and the role biomedical technologies will play in defining that path.

Suggested Citation

  • Roe, Brian E. & Haab, Timothy C., 2009. "Using Biomedical Technologies to Inform Economic Modeling: Challenges and Opportunities for Improving Analysis of Environmental Policies," 2009 Annual Meeting, July 26-28, 2009, Milwaukee, Wisconsin 49151, Agricultural and Applied Economics Association.
  • Handle: RePEc:ags:aaea09:49151
    as

    Download full text from publisher

    File URL: http://purl.umn.edu/49151
    Download Restriction: no

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Mikołaj Czajkowski & Nick Hanley, 2009. "Using Labels to Investigate Scope Effects in Stated Preference Methods," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 44(4), pages 521-535, December.
    2. Czajkowski, Mikolaj & Hanley, Nicholas, 2008. "How to 'Sell' an Environmental Good: Using Labels to Investigate Scope Effects," Stirling Economics Discussion Papers 2008-16, University of Stirling, Division of Economics.

    More about this item

    Keywords

    neuroeconomics; neuroscience; brain imaging; genetics; welfare economics; utility theory; biology; decision making; preferences; Institutional and Behavioral Economics; Research Methods/ Statistical Methods; D01; D03; D6; D87;

    JEL classification:

    • D01 - Microeconomics - - General - - - Microeconomic Behavior: Underlying Principles
    • D03 - Microeconomics - - General - - - Behavioral Microeconomics: Underlying Principles
    • D6 - Microeconomics - - Welfare Economics
    • D87 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Neuroeconomics

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ags:aaea09:49151. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (AgEcon Search). General contact details of provider: http://edirc.repec.org/data/aaeaaea.html .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.