One of the most enduring observations of behavioral economics is the reference-dependent nature of utility. Rarely do we behave as if motivated by the absolute values that might result from possible choices; instead, we appear to assign utility to the amount and direction of change away from some reference point. Known as prospect theory, [...]
Archive for March, 2009
TRB: “Irrational” Behavior and the Ventral Striatum
Posted in Thursday Research Blogging, tagged Beatrice Holt, Behavioral Economics, Benedetto De Martino, Decision-Making, Dharshan Kumaran, fMRI, Neuroeconomics, Orbitofrontal Cortex, Prospect Theory, Raymond Dolan, Reference-Dependent Valuation, The Journal of Neuroscience, Ventral striatum on March 26, 2009 | 1 Comment »
Take the Policy IAT
Posted in Uncategorized, tagged Policy IAT, The Situationist on March 21, 2009 | Leave a Comment »
More from The Situationist (I’ve been offline doing work for the past week, so I’m a little backwards today). Everyone should follow this link and spend 15 minutes or so taking the Policy Implicit Association Test. Some preliminary results from this test were discussed at the PLMS conference, and the implications are really quite fascinating, [...]
The Free Market Mindset – PLMS Conference
Posted in Uncategorized, tagged Free Market Mindset, The Situationist on March 21, 2009 | Leave a Comment »
As a background for some of the ideas I discuss in the previous post, here’s a link to The Situationist’s recap of the Harvard Law’s Project on Law and Mind Sciences conference from two weeks ago on the Free Market Mindset. I’ve been meaning to write about the conference, although I was waiting until some [...]
The Value of Neuroscience
Posted in Uncategorized, tagged Behavioral Economics, Decision-Making, Difficult Questions, Economics, Jonah Lehrer, Neuoeconomics, Neuroscience, Rationality on March 21, 2009 | 4 Comments »
Everyone should read this characteristically excellent post from Jonah Lehrer at the Frontal Cortex. In it, he offers his answer to the question that is always on my mind: “what is the value of neuroscience?” It’s definitely worth a full read, but here’s the essence of his answer:
The best answer, I think, is that learning [...]
TRB: Motivated Memory in the Prefrontal Cortex
Posted in Thursday Research Blogging, tagged Attention, Behavioral Neurophysiology, Cognitive Neuroscience, dlPFC, Executive Control, Journal, Kennerley, Macaques, Prefrontal Cortex, Reward, The Journal of Neuroscience, vlPFC, Wallis, Working Memory on March 12, 2009 | Leave a Comment »
Cognitive neuroscientists need not abandon their understanding of an evolutionary continuum between humans and all other creatures when faced with the reality of our many unique abilities. A complete explanation of our singular intelligence may yet lay beyond our grasp, but we know that the answer will likely be revealed as we unravel the twisted [...]
Will Wilkinson is Wearing Free Market Blinders About Innovation
Posted in Policy, tagged Free Markets, Health Care, Innovation, Libertarianism, Will Wilkinson on March 10, 2009 | 3 Comments »
Will Wilkinson has been flogging the idea lately that President Obama’s tax policies will depress “innovation.” It started with this post, linking and quoting this article from the City Journal. I’d recommend reading the whole (short) column, because the errors are more or less distributed throughout, but here’s the essence of the argument:
Consider a hypothetical [...]
