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Between Utility and Cognition: The Neurobiology of Relative Position

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  • Daniel John Zizzo

Abstract

A positive correlation between relative position and the neurotransmitter serotonin exists in non-human primates, within an optimal range. This paper explores the reasons of this correlation. The main function of serotonin appears cognitive: it determines how optimally agents perceive and behave in game theoretical interactions, and this can explain the correlational finding. Among humans, within the optimal range serotonin works as a form of human capital, capable of improving the work functioning of agents who respond to serotonergic promoter treatment. Limitations of the existing evidence are also discussed.

Suggested Citation

  • Daniel John Zizzo, 2000. "Between Utility and Cognition: The Neurobiology of Relative Position," Economics Series Working Papers 56, University of Oxford, Department of Economics.
    • Handle: RePEc:oxf:wpaper:56
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    2. Joan Costa-Font & Frank Cowell, 2015. "Social Identity And Redistributive Preferences: A Survey," Journal of Economic Surveys, Wiley Blackwell, vol. 29(2), pages 357-374, April.
    3. Nattavudh Powdthavee, 2009. "How important is rank to individual perception of economic standing? A within-community analysis," The Journal of Economic Inequality, Springer;Society for the Study of Economic Inequality, vol. 7(3), pages 225-248, September.
    4. Hummy Song & Anita L. Tucker & Karen L. Murrell & David R. Vinsonc, 2018. "Closing the Productivity Gap: Improving Worker Productivity Through Public Relative Performance Feedback and Validation of Best Practices," Management Science, INFORMS, vol. 64(6), pages 2628-2649, June.
    5. Maite Blázquez & Santiago Budría, 2018. "The Effects of Over-indebtedness on Individual Health," Hacienda Pública Española / Review of Public Economics, IEF, vol. 227(4), pages 103-131, December.
    6. T. Lakshmanasamy, 2022. "Money and Happiness in India: Is Relative Comparison Cardinal or Ordinal and Same for All?," Journal of Quantitative Economics, Springer;The Indian Econometric Society (TIES), vol. 20(4), pages 931-957, December.
    7. Budría, Santiago & Ferrer-i-Carbonell, Ada, 2012. "Income Comparisons and Non-Cognitive Skills," IZA Discussion Papers 6419, IZA Network @ LISER.
    8. Ederer, Florian & Patacconi, Andrea, 2010. "Interpersonal comparison, status and ambition in organizations," Journal of Economic Behavior & Organization, Elsevier, vol. 75(2), pages 348-363, August.
    9. Matthias Greiff, 2015. "Integrating Affective Responses into Game Theory: A Dual Selves Model," MAGKS Papers on Economics 201517, Philipps-Universität Marburg, Faculty of Business Administration and Economics, Department of Economics (Volkswirtschaftliche Abteilung).
    10. Santiago Budria, 2013. "Are Relative-Income Effects Constant Across the Well-Being Distribution?," Journal of Happiness Studies, Springer, vol. 14(4), pages 1379-1408, August.
    11. Hummy Song & Anita L. Tucker & Karen L. Murrell & David R. Vinson, 2015. "Public Relative Performance Feedback in Complex Service Systems: Improving Productivity through the Adoption of Best Practices," Working Papers 96, Brandeis University, Department of Economics and International Business School.

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    JEL classification:

    • C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games
    • C99 - Mathematical and Quantitative Methods - - Design of Experiments - - - Other
    • D10 - Microeconomics - - Household Behavior - - - General

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