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NeuroEconomics

Author

Listed:
  • Dr. Peter Kenning

    (University of Muenster)

  • Hilke Plassmann

    (University of Muenster)

Abstract

Over the last two years a research field has developed under the banner of 'neuroeconomics' in which recent neuroscientific methods are deploid to analyze economically relevant processes. This paper aims to provide an overview of the methodology and current state of neuroeconomic research by giving a brief definition of the concept of neuroeconomics, outlining relevant methodologies, and describing studies undertaken in the current research areas to date. Finally, some future prospects are considered.

Suggested Citation

  • Dr. Peter Kenning & Hilke Plassmann, 2004. "NeuroEconomics," Experimental 0412005, EconWPA.
  • Handle: RePEc:wpa:wuwpex:0412005
    Note: Type of Document - pdf; pages: 26
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    File URL: http://econwpa.repec.org/eps/exp/papers/0412/0412005.pdf
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    References listed on IDEAS

    as
    1. Daniel John Zizzo, 2003. "Anger, Rationality and Neuroeconomics," Economics Series Working Papers 182, University of Oxford, Department of Economics.
    2. Drakopoulos, Stavros A, 1990. "Two Levels of Hedonistic Influence on Microeconomic Theory," Scottish Journal of Political Economy, Scottish Economic Society, vol. 37(4), pages 360-378, November.
    3. Conlisk, John, 1989. "Three Variants on the Allais Example," American Economic Review, American Economic Association, vol. 79(3), pages 392-407, June.
    4. Axel Ockenfels & Gary E. Bolton, 2000. "ERC: A Theory of Equity, Reciprocity, and Competition," American Economic Review, American Economic Association, vol. 90(1), pages 166-193, March.
    5. McCabe, Kevin & Houser, Daniel & Ryan, Lee & Smith, Vernon & Trouard, Ted, 2001. "A Functional Imaging Study of Cooperation in Two-Person reciprocal Exchange," MPRA Paper 5172, University Library of Munich, Germany.
    6. Kip Smith & John Dickhaut & Kevin McCabe & José V. Pardo, 2002. "Neuronal Substrates for Choice Under Ambiguity, Risk, Gains, and Losses," Management Science, INFORMS, vol. 48(6), pages 711-718, June.
    7. Colin Camerer & George Loewenstein & Drazen Prelec, 2003. "Neuroeconomics: How neuroscience can inform economics," Levine's Bibliography 506439000000000484, UCLA Department of Economics.
    8. Vernon L. Smith, 2003. "Constructivist and Ecological Rationality in Economics," American Economic Review, American Economic Association, vol. 93(3), pages 465-508, June.
    9. Andrew W. Lo & Dmitry V. Repin, 2001. "The Psychophysiology of Real-Time Financial Risk Processing," NBER Working Papers 8508, National Bureau of Economic Research, Inc.
    Full references (including those not matched with items on IDEAS)

    Citations

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    Cited by:

    1. Anastasia Nedelko & Olga Lupova & Alexey Gorin & Alexandra Kuznetsova & Vasily Klucharev & Anna Shestakova, 2017. "An Analysis of Brand Association Perception Using N400 Evoked Potential," HSE Working papers WP BRP 77/PSY/2017, National Research University Higher School of Economics.
    2. Witt, Ulrich & Binder, Martin, 2013. "Disentangling motivational and experiential aspects of “utility” – A neuroeconomics perspective," Journal of Economic Psychology, Elsevier, vol. 36(C), pages 27-40.
    3. Franziska Rumpel & Michael Knuth & Micheal Schaefer, 2008. "Neural correlates for price involvement in purchase decisions with regards to fast-moving-consumer-goods," FEMM Working Papers 08033, Otto-von-Guericke University Magdeburg, Faculty of Economics and Management.
    4. Kenning, Peter & Mohr, Peter & Erk, Susanne & Walter, Henrik & Plassmann, Hilke, 2006. "The role of fear in home-biased decision making: first insights from neuroeconomics," MPRA Paper 1076, University Library of Munich, Germany, revised 18 Nov 2006.
    5. repec:kap:jbuset:v:144:y:2017:i:4:d:10.1007_s10551-016-3110-1 is not listed on IDEAS
    6. Georges Bresson & Cheng Hsiao, 2011. "A functional connectivity approach for modeling cross-sectional dependence with an application to the estimation of hedonic housing prices in Paris," AStA Advances in Statistical Analysis, Springer;German Statistical Society, vol. 95(4), pages 501-529, December.
    7. Gonzalo Valdés-Edwards & Salvador Valdés-Prieto, 2013. "A Tractable Theory of Choice Based on Cell Behavior," CESifo Working Paper Series 4424, CESifo Group Munich.
    8. Bercea, Monica Diana, 2013. "Quantitative versus qualitative in neuromarketing research," MPRA Paper 44134, University Library of Munich, Germany.
    9. Hain, Cornelia & Lehmann-Waffenschmidt, Marco & Kenning, Peter, 2007. "Neuroökonomie und Neuromarketing: Neurale Korrelate strategischer Entscheidungen," Dresden Discussion Paper Series in Economics 04/07, Technische Universität Dresden, Faculty of Business and Economics, Department of Economics.
    10. Martin Binder, 2009. "Some Considerations Regarding the Problem of Multidimensional Utility," Jena Economic Research Papers 2009-099, Friedrich-Schiller-University Jena.
    11. Michał Gradzewicz & Krzysztof Makarski & Joanna Tyrowicz, 2013. "Do We Really Need to Start From Scratch? Economic Theory on Economic Crises," Working Papers 2013-17, Faculty of Economic Sciences, University of Warsaw.
    12. Bach, Norbert & Sterner, Madlen, 2011. "Implikationen neuroökonomischer Erkenntnisse für das Employer Branding
      [Implications of neuroeconomic findings for Employer Branding]
      ," Ilmenauer Schriften zur Betriebswirtschaftslehre, Technische Universität Ilmenau, Institut für Betriebswirtschaftslehre, volume 5, number 52011, April.
    13. repec:spr:reihed:v:58:y:2017:i:7:d:10.1007_s11162-017-9447-1 is not listed on IDEAS
    14. Antonio Mileti & Gianluigi Guido & Maria Irene Prete, 2014. "L’applicazione delle nanotecnologie al neuromarketing: rassegna e proposizioni," MERCATI E COMPETITIVITÀ, FrancoAngeli Editore, vol. 2014(1), pages 17-35.

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    JEL classification:

    • C9 - Mathematical and Quantitative Methods - - Design of Experiments

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