A Tractable Theory of Choice Based on Cell Behavior

Gonzalo Valdés-Edwards and Salvador Valdés

No 4424, CESifo Working Paper Series from CESifo

Abstract: This paper presents a choice model based on a model for the behavior of brain cells that is based on neurological findings. The paper shows that it is possible to define choice as the result of a series of interconnected cellular processes, instead of framing the problem from the point of view of a single optimizing agent. Many of the desirable attributes of the latter are preserved. Under specific conditions identified here, the aggregate behavior of individual brain cells is similar to what a traditional rational optimizing agent would choose. This model is a first step to understand decision-making in terms of cellular interactions.

Keywords: neuroeconomics; decision-making; economics of neural activity (search for similar items in EconPapers)
JEL-codes: D81 D87 (search for similar items in EconPapers)
Date: 2013
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