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Multiple-self models in neuroeconomics. A methodological critique

  • Marco Stimolo

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    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.

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    File URL: http://servizi.sme.unito.it/icer_repec/RePEc/icr/wp2012/ICERwp07-12.pdf
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    Paper provided by ICER - International Centre for Economic Research in its series ICER Working Papers with number 07-2012.

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    Length: 20 pages
    Date of creation: Sep 2012
    Date of revision:
    Handle: RePEc:icr:wpicer:07-2012
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    1. repec:cup:cbooks:9780521618618 is not listed on IDEAS
    2. Becker, Gary S & Murphy, Kevin M, 1988. "A Theory of Rational Addiction," Journal of Political Economy, University of Chicago Press, vol. 96(4), pages 675-700, August.
    3. Aldo Rustichini, 2009. "Is There a Method of Neuroeconomics?," American Economic Journal: Microeconomics, American Economic Association, vol. 1(2), pages 48-59, August.
    4. Don Ross, 2007. "Economic Theory and Cognitive Science: Microexplanation," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262681684, June.
    5. Paul William Glimcher & Kenway Louie & Joseph Kable, 2007. "Neuroeconomic Studies of Impulsivity: Now or Just as Soon as Possible?," American Economic Review, American Economic Association, vol. 97(2), pages 142-147, May.
    6. Berg, Nathan & Gigerenzer, Gerd, 2010. "As-if behavioral economics: Neoclassical economics in disguise?," MPRA Paper 26586, University Library of Munich, Germany.
    7. repec:cup:cbooks:9780521853408 is not listed on IDEAS
    8. Mas-Colell, Andreu & Whinston, Michael D. & Green, Jerry R., 1995. "Microeconomic Theory," OUP Catalogue, Oxford University Press, number 9780195102680, March.
    9. Don Ross & Carla Sharp & Rudy E. Vuchinich & David Spurrett, 2008. "Midbrain Mutiny: The Picoeconomics and Neuroeconomics of Disordered Gambling: Economic Theory and Cognitive Science," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262182653, June.
    10. Marieke van Rooij & Guy Van Orden, 2011. "It's about Space, It's about Time, Neuroeconomics and the Brain Sublime," Journal of Economic Perspectives, American Economic Association, vol. 25(4), pages 31-56, Fall.
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