Get 20M+ Full-Text Papers For Less Than $1.50/day. Start a 14-Day Trial for You or Your Team.

Learn More →

Epistemology of DecisionNeuroeconomics

Epistemology of Decision: Neuroeconomics [The rational choice theory (TRC), in its standard interpretation, is not presented as a causal theory, but as a formal-normative theory. Experimental economics, replacing the standard assumptions regarding the interpretation of the TRC’s more realistic assumptions - for example, a utility function that includes social preferences - has allowed us to improve the prediction. However, experimental economics has failed to overcome another theoretical difficulty that affects the TRC, the absence of a formal causal link to the entities hypothesized. In the end we are before the same problem Chomskyan linguistics faced. Chomsky, in fact, proposed a formal model of explanation of linguistic competency assuming a division into elements (e.g., verbal or nominal groups) and operations (the rules of formation and transformation of sentences).] http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png

Epistemology of DecisionNeuroeconomics

Part of the SpringerBriefs in Philosophy Book Series
Graziano, Mario
Epistemology of Decision — Sep 11, 2012
Download PDF
32 pages

Loading next page...
 
/lp/springer-journals/epistemology-of-decision-neuroeconomics-Zfz60fABki
Publisher
Springer Netherlands
Copyright
© The Author(s) 2013
ISBN
978-94-007-5427-0
Pages
29 –61
DOI
10.1007/978-94-007-5428-7_2
Publisher site
See Chapter on Publisher Site

Abstract

[The rational choice theory (TRC), in its standard interpretation, is not presented as a causal theory, but as a formal-normative theory. Experimental economics, replacing the standard assumptions regarding the interpretation of the TRC’s more realistic assumptions - for example, a utility function that includes social preferences - has allowed us to improve the prediction. However, experimental economics has failed to overcome another theoretical difficulty that affects the TRC, the absence of a formal causal link to the entities hypothesized. In the end we are before the same problem Chomskyan linguistics faced. Chomsky, in fact, proposed a formal model of explanation of linguistic competency assuming a division into elements (e.g., verbal or nominal groups) and operations (the rules of formation and transformation of sentences).]

Published: Sep 11, 2012

Keywords: Rational Choice Theory; Pesendorfer; Mirror Neurons; Ultimatum Game; Colin Camerer

There are no references for this article.