From behavioural economics to neuroeconomics to decision neuroscience: The ascent of biology in research on human decision making
P Bossaerts, C Murawski
Current Opinion in Behavioral Sciences | Elsevier B | Published : 2015
Here, we briefly review the evolution of research on human decision-making over the past few decades. We discern a trend whereby biology moves from subserving economics (neuroeconomics), to providing the data that advance our knowledge of the nature of human decision-making (decision neuroscience). Examples illustrate that the integration of behavioural and biological models is fruitful especially for understanding heterogeneity of choice in humans.
The authors gratefully acknowledge financial support from the finance department of the faculty of business and economics at the University of Melbourne and from the finance department of the David Eccles School of Business at the University of Utah. The contents of this article have been shaped by numerous discussions with colleagues in economics, psychology and neuroscience. Comments from two anonymous referees were particularly helpful. The views expressed here, however, are the authors' only.