Neuro-economics and Neuro-accounting. Sudipta Basu, John Dickhaut, Kevin McCabe and Greg Waymire. Neurons and Neuroeconomics. Problems, Humility and Promise. What are the issues?. What is the goal of Neuroeconomics? (Controversial) What is the fundamental building block of Neuroeconomics?
Sudipta Basu, John Dickhaut, Kevin McCabe and Greg Waymire
Problems, Humility and Promise
Luce and Raiffa, Games and Decisions, 1957
Parts=Axons, Dendrites,Soma=Cell Body,Axon Hillock,Boutons,Plus
Regular Cell Parts
Hodgkin, AL and Huxley, AF, and Katz, B (1952) Measurement
of current-voltage relations in the membrane of the giant axon of Loligo. ...
What does understanding the building block tell us about possible changes that may occur in the way we study economics and even accounting?(continued)
differentially activate for preferred element in a pair
2)Fiorillo, CD., N. Philippe N., P. Tobler, and W. Schultz, “Discrete Coding of Reward Probability and Uncertainty by Dopamine Neurons.” Science 299 (March 2003): 1898-1902.
Knutson, B., G.W. Fong, S. M. Bennett, C. M. Adams, and D. Hommer, “A region of mesial prefrontal cortex tracks monetarily rewarding outcomes: characterization with rapid event-related fMRI.” NeuroImage 18 (February 2003): 263-272.
O’Doherty, J., P. Dayan,J. Schultz, R. Deichmann, K. Friston, and R. Dolan, “Dissociable Roles of Ventral and Dorsal Striatum in Instrumental Conditioning.” Science 304 (April 2004): 452-454.
Only Subject=Dorsal Striatum Agent
The somatic marker hypothesis: A neural theory of economic decision • Games and Economic Behavior, Volume 52, Issue 2, 1 August 2005, Pages 336-372 Bechara, A.; Damasio, A.R.
Dickhaut, J., K. McCabe, J. Nagode, A. Rustichini, and J. Pardo., “The impact of the certainty context on the process of choice.” Proceedings of the National Academy of Science 6 (March 2003): 3536-3541. AndRustichini, A., J. Dickhaut, P. Ghirardato, K. Smith, and J.V. Pardo, “A brain imaging study of the choice procedure.” Games and Economic Behavior 52 (2005): 257-282.
McCabe, K., D. Houser, L. Ryan,V. Smith and T. Trouard, “A Functional Imaging Study of cooperation in Two Person Reciprocal Exchange.” Proceedings of the National Academy of Sciences of the United States of America 98 (2001): 11832-11835.
King-Cassas, B., D. Tomlin, C. Anen, C.F. Camerer, S.R. Quartz, and P.R. Montague, “Getting to Know You: Reputation and Trust in a Two-Person Economic Exchange.” Science 308 (2005): 78-83.
De Quervain, J., U. Fischbacher, V. Treyer, M. Schellhammer, U. Schnyder, A. Buck,and E. Fehr, “The neural basis of altruistic punishment.” Science 425 (October 2003): 785-791.
John Dickhaut, Baohua Xin
What is missing currently?
Two background studies.
Fiorello Et. al, 2004
Do you see any relationship between this type of assumption
and what we have said about the brain?
The next agent in the auction is probabilistically
related to that agents expected profit compared
to other agents.
Does this look anything like what we have talked about so far?
V.L. Smith, JPE,1962Results from applying this technology to the Smith parameters.
Where does something like this go on in the brain? Any evidence
it can happen