Agency relations in the brain: towards an optimal control theory

Orlando Gomes

Economics Bulletin, 2014, vol. 34, issue 4, 2179-2189

Abstract: Recent literature on individual decision-making emphasizes the idea that the brain functions as an organization, with the allocation of resources to the development of different cognitive tasks occurring via an agency relation across distinct brain systems. In this note, the mentioned view on the deliberative process of the human mind is extended to a dynamic optimization setting. Meaningful results, concerning the long-term allocation of cognitive resources, are derived.

Keywords: Brain systems; Cognitive resources; Agency problem; Optimal control; Matching; Saddle-path stability (search for similar items in EconPapers)
JEL-codes: C6 D8 (search for similar items in EconPapers)
Date: 2014-10-24
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Citations: View citations in EconPapers (1)

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