Neuroeconomics: History

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In the mid-1990s, the academic disciplines of neuroscience, psychology, and economics began to interact in a way that brought about a revolution in how many scholars think about, and study, decision making. Neuroscientists and cognitive psychologists began to recognize the contribution that formal models of decision making could make toward an understanding of the neurobiology of choice. At the same time, economists and social psychologists began to recognize that neurobiological measurements can serve to constrain formal models of decision making. This interdisciplinary convergence has led to the birth of a new field known as neuroeconomics. The central premise of this new discipline is that if formal mathematical models of decision making and empirical neurobiological experiments on decision making interact, the result will be a richer understanding of how choices are made than could be achieved by either discipline alone.

Original languageEnglish (US)
Title of host publicationEncyclopedia of Neuroscience
PublisherElsevier Ltd
Number of pages6
ISBN (Print)9780080450469
StatePublished - 2009

ASJC Scopus subject areas

  • General Neuroscience


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