Chapter

Using Psychology to See the Brain in Economics

Paul W. Glimcher

in Foundations of Neuroeconomic Analysis

Published in print November 2010 | ISBN: 9780199744251
Published online January 2011 | e-ISBN: 9780199863433 | DOI: http://dx.doi.org/10.1093/acprof:oso/9780199744251.003.0004
Using Psychology to See the Brain in Economics

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This chapter develops the first of several linkages between economics, psychology, and neuroscience. First, it provides an overview of classical psychophysics. Second, it demonstrates that the mathematically described relationship between stimulus and percept can be mapped fairly directly to neurobiological models of sensory transduction. It provides examples of pre-existing conceptual reductions between psychology and neuroscience. Finally, it shows that one of these fully linked neurobiology-to-psychology concept groups can be relevant to economics. The chapter concludes by arguing that economic models of the random utility of directly consumable rewards are, in their present form, reducible to psychological models of percept and thence to neurobiological models of biochemical transduction.

Keywords: economics; psychology; neuroscience; psychophysics; sensory transduction; psychological models; percept

Chapter.  7259 words.  Illustrated.

Subjects: Neuropsychology

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