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Multiple-self models in neuroeconomics. A methodological critique

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  • Marco Stimolo

Abstract

The 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.

Suggested Citation

  • Marco Stimolo, 2012. "Multiple-self models in neuroeconomics. A methodological critique," ICER Working Papers 07-2012, ICER - International Centre for Economic Research.
    • Handle: RePEc:icr:wpicer:07-2012
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    References listed on IDEAS

    as
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    Keywords

    Multiple-self; rationality; as if; functional localization; robustness;
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