| By: |
Davis, John B. (Department of Economics Marquette University) |
| Abstract: |
This paper reviews the debate in economics over neuroeconomics’ contribution
to economics. It distinguishes majority and minority views, argues that this
debate has been framed by mainstream economics’ conception of itself as an
isolated science, and argues that this framing has put off the agenda in
economics issues such as individual identity that are increasingly important
in connection with the social and historical context of economic explanations
in a changing complex world. The paper first discusses how the debate over
neuroeconomics has been limited to the question of what information from other
sciences might be employed in economics. It then goes on to the individual
identity issue, and discusses how economics’ top-down, closed character
generates a circular individual identity conception, while bottom-up, open
character of psychology and neuroscience, and their continual concern with the
changing relation between theory and evidence, has produced four competing
individual identity conceptions in neuroeconomic research. |
| Keywords: |
neuroeconomics, mainstream economics, isolated science, identity, revealed preference, circularity, MRI, distributed cognition |
| JEL: |
A12 B41 D03 D87 |
| Date: |
2016–04 |
| URL: |
http://d.repec.org/n?u=RePEc:mrq:wpaper:2016-03&r=evo |