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Comments on Neuroeconomics

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  • Ariel Rubinstein

Abstract

Neuroeconomics is examined critically using data on the response times of subjects who were asked to express their preferences in the context of the Allais Paradox. Different patterns of choice are found among the fast and slow responders. This suggests that we try to identify types of economic agents by the time they take to make their choices. Nevertheless, it is argued that it is far from clear if and how neuroeconomics will change economics.
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Suggested Citation

  • Ariel Rubinstein, 2008. "Comments on Neuroeconomics," Levine's Working Paper Archive 122247000000001984, David K. Levine.
  • Handle: RePEc:cla:levarc:122247000000001984
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    File URL: http://www.dklevine.com/archive/refs4122247000000001984.pdf
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    References listed on IDEAS

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    1. McCabe, Kevin A., 2008. "Neuroeconomics And The Economic Sciences," Economics and Philosophy, Cambridge University Press, vol. 24(03), pages 345-368, November.
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    Cited by:

    1. Chorus, Caspar G., 2015. "Models of moral decision making: Literature review and research agenda for discrete choice analysis," Journal of choice modelling, Elsevier, vol. 16(C), pages 69-85.
    2. repec:spr:jogath:v:46:y:2017:i:2:d:10.1007_s00182-016-0541-y is not listed on IDEAS
    3. Pablo Brañas-Garza & Debrah Meloso & Luis M. Miller, 2008. "Instinctive Response in the Ultimatum Game," ThE Papers 08/08, Department of Economic Theory and Economic History of the University of Granada..
    4. Gianna Lotito & Matteo Migheli & Guido Ortona, 2013. "Is cooperation instinctive? Evidence from the response times in a public goods game," Journal of Bioeconomics, Springer, vol. 15(2), pages 123-133, July.
    5. Kfir Eliaz & Ariel Rubinstein, 2014. "A model of boundedly rational “neuro” agents," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 57(3), pages 515-528, November.
    6. Lester, Bijou Yang, 2011. "An exploratory analysis of composite choices: Weighing rationality versus irrationality," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 40(6), pages 949-958.
    7. Pablo Brañas-Garza & Debrah Meloso & Luis Miller, 2017. "Strategic risk and response time across games," International Journal of Game Theory, Springer;Game Theory Society, vol. 46(2), pages 511-523, May.
    8. repec:eee:eecrev:v:99:y:2017:i:c:p:31-42 is not listed on IDEAS

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