Back to Browse Journals » Neuroscience and Neuroeconomics » Volume 2

Can neuroimaging inform economic theories of decision making?

Authors Farb NA

Received 18 October 2012

Accepted for publication 12 December 2012

Published 22 January 2013 Volume 2013:2 Pages 1—10

DOI https://dx.doi.org/10.2147/NAN.S39339

Checked for plagiarism Yes

Review by Single-blind

Peer reviewer comments 2

Norman AS Farb

Rotman Research Institute, Baycrest, Toronto, Ontario, Canada

Abstract: Neuroimaging has grown in prominence with the popularization of relatively inexpensive and noninvasive techniques. The popular conception of neuroimaging is that it can finely describe a person's internal states and proclivities, providing veridical evidence in real-world situations, such as criminal trials, or in predicting consumer behavior. However, the scientific reality is far from this ideal; current neuroimaging techniques lack the precision to predict specific behaviors or preferences. Nonetheless, these techniques still possess considerable utility in describing forms of cognition that are recruited during decision making, such as an individual's tendency to focus on risk or reward. Such investigations can inform economic theory by characterizing contextual influences in decision making, revealing sources of bias in how value is appraised, generating new research hypotheses, and eventually leading to a more complete theory of human behavior. This review paper summarizes recent research that advances our understanding of the neural networks underlying decision making and outlines the strengths and limitations of current neuroimaging analysis techniques for informing neuroeconomic theory.

Keywords: neuroimaging, fMRI, decision making, neuroeconomics, systems neuroscience

Creative Commons License This work is published and licensed by Dove Medical Press Limited. The full terms of this license are available at https://www.dovepress.com/terms.php and incorporate the Creative Commons Attribution - Non Commercial (unported, v3.0) License. By accessing the work you hereby accept the Terms. Non-commercial uses of the work are permitted without any further permission from Dove Medical Press Limited, provided the work is properly attributed. For permission for commercial use of this work, please see paragraphs 4.2 and 5 of our Terms.

Download Article [PDF] 

 

Readers of this article also read:

Nanoplasmonic biosensors: current perspectives

Shukla GM, Mukherji S

Nanobiosensors in Disease Diagnosis 2015, 4:75-88

Published Date: 10 September 2015

Competing neurobehavioral decision systems and the neuroeconomics of craving in opioid addiction

Sofis MJ, Jarmolowicz DP, Martin LE

Neuroscience and Neuroeconomics 2014, 3:87-98

Published Date: 8 October 2014

Temptation in economic decision making: effects of immediate reward and reward-cues

Woelbert E, Goebel R

Neuroscience and Neuroeconomics 2013, 2:11-19

Published Date: 16 March 2013

Neural systems supporting and affecting economically relevant behavior

Braeutigam S

Neuroscience and Neuroeconomics 2012, 1:11-23

Published Date: 15 May 2012

Molecular network topology and reliability for multipurpose diagnosis

Jalil MA, Moongfangklang N, Innate K, Mitatha S, Ali J, Yupapin PP

International Journal of Nanomedicine 2011, 6:2385-2392

Published Date: 19 October 2011

Using biomedical networks to prioritize gene–disease associations

Arrais JP, Oliveira JL

Open Access Bioinformatics 2011, 3:123-130

Published Date: 25 August 2011

Ionically cross-linked hyaluronic acid: wetting, lubrication, and viscoelasticity of a modified adhesion barrier gel

Katherine Vorvolakos, Irada S Isayeva, Hoan-My Do Luu, et al

Medical Devices: Evidence and Research 2011, 4:1-10

Published Date: 16 December 2010

Jet lag syndrome: circadian organization, pathophysiology, and management strategies

Andrew M Vosko, Christopher S Colwell, Alon Y Avidan

Nature and Science of Sleep 2010, 2:187-198

Published Date: 19 August 2010

New developments in magnetic resonance imaging techniques for shoulder instability in athletes

Timothy R McAdams, Michael Fredericson, Melissa Vogelsong, et al

Open Access Journal of Sports Medicine 2010, 1:137-142

Published Date: 4 August 2010