Braeutigam, S. (2005). Neuroeconomics - From neural systems to economic behaviour. Brain Research Bulletin, 67(5), 355-360.
Neuroeconomics is a new and highly interdisciplinary field. Drawing from theories and methodologies employed in both economics and neuroscience. it aims at understanding the neural systems supporting and affecting economically relevant behaviour in real-life situations. Although incomplete, the evidence is beginning to clarify with the possibility that neuroeconomic methodology might eventually trace C whole processes of economically relevant behaviour. This paper accompanies the author's ConNEcs 2004 keynote speech on applications of neuroeconomic research. (c) 2005 Elsevier Inc. All rights reserved.
Sanfey, A. G., Loewenstein, G., McClure, S. M., & Cohen, J. D. (2006). Neuroeconomics: cross-currents in research on decision-making. Trends in Cognitive Sciences, 10(3), 108-116.
Despite substantial advances, the question of how we make decisions and judgments continues to pose important challenges for scientific research. Historically, different disciplines have approached this problem using different techniques and assumptions, with few unifying efforts made. However, the field of neuroeconomics has recently emerged as an inter-disciplinary effort to bridge this gap. Research in neuroscience and psychology has begun to investigate neural bases of decision predictability and value, central parameters in the economic theory of expected utility. Economics, in turn, is being increasingly influenced by a multiple-systems approach to decision-making, a perspective strongly rooted in psychology and neuroscience. The integration of these disparate theoretical approaches and methodologies offers exciting potential for the construction of more accurate models of decision-making.
Stuphorn, V. (2006). Neuroeconomics: Cardinal utility in the orbitofrontal cortex? Current Biology, 16(15), R591-R593.
Modern economics no longer uses the concept of cardinal utility, which describes the value of a good independently of a comparison with another good. New electrophysiological recordings in primates performing economic choices suggest a neurological substrate for cardinal utility, a finding that economists should perhaps take note of.
Sugrue, L. P., Corrado, G. S., & Newsome, W. T. (2005). Choosing the greater of two goods: Neural currencies for valuation and decision making. Nature Reviews Neuroscience, 6(5), 363-375.
To make adaptive decisions, animals must evaluate the costs and benefits of available options. The nascent field of neuroeconomics has set itself the ambitious goal of understanding the brain mechanisms that are responsible for these evaluative processes. A series of recent neurophysiological studies in monkeys has begun to address this challenge using novel methods to manipulate and measure an animal's internal valuation of competing alternatives. By emphasizing the behavioural mechanisms and neural signals that mediate decision making under conditions of uncertainty, these studies might lay the foundation for an emerging neurobiology of choice behaviour.
Zak, P. J. (2004). Neuroeconomics. Philosophical Transactions of the Royal Society of London Series B-Biological Sciences, 359(1451), 1737-1748.
This paper introduces an emerging transdisciplinary field known as neuroeconomics. Neuroeconomics uses neuroscientific measurement techniques to investigate how decisions are made. First, I present a basic overview of neuroanatomy and explain how brain activity is measured. I then survey findings from the neuroeconomics literature on acquiring rewards and avoiding losses, learning, choice under risk and ambiguity, delay of gratification, the role of emotions in decision-making, strategic decisions and social decisions. I conclude by identifing new directions that neuroeconomics is taking, including applications to public policy and law.