Explaining the logic of pure preference in a neurodynamic structure
This paper uses Category Theory to integrate a nonlinear, nonhomogeneous ordinary differential equation system into an input/output representation in an attempt to capture the mechanism behind the formation of pure preference in humans. The model shows that the human brain belongs to the class of functions U ε C2(R3, R). In addition, it shows that there exists an emerging factor, e, which is sine qua non for expressing a preference. The factor, e, may be associated with ‘judgement’ which, in turn, may neatly subsume ‘consciousness’, the arrival of new information, and cases of selection under risks and uncertainty.
|Date of creation:||08 Dec 2006|
|Date of revision:||09 Oct 2007|
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- Richard H. Thaler, 2000. "From Homo Economicus to Homo Sapiens," Journal of Economic Perspectives, American Economic Association, vol. 14(1), pages 133-141, Winter.
- Dominique, C. Rene, 1988. "A note on increasing returns to advertising," Economics Letters, Elsevier, vol. 28(4), pages 381-385.
- Jon Elster, 1998. "Emotions and Economic Theory," Journal of Economic Literature, American Economic Association, vol. 36(1), pages 47-74, March.
- Loomes, Graham & Sugden, Robert, 1982. "Regret Theory: An Alternative Theory of Rational Choice under Uncertainty," Economic Journal, Royal Economic Society, vol. 92(368), pages 805-24, December.
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