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On an Evolutionary Foundation of Neuroeconomics

Burkhard Schipper

MPRA Paper from University Library of Munich, Germany

Abstract: Neuroeconomics focuses on brain imaging studies mapping neural responses to choice behavior. Economic theory is concerned with choice behavior but it is silent on neural activities. We present a game theoretic model in which players are endowed with an additional structure - a simple "nervous system" - and interact repeatedly in changing games. The nervous system constrains information processing functions and behavioral functions. By reinterpreting results from evolutionary game theory (Germano, 2007), we suggest that nervous systems can develop to "function well" in exogenously changing strategic environments. We present an example indicating that an analogous conclusion fails if players can influence endogenously their environment.

Keywords: Neuroeconomic theory; Evolutionary game theory; Learning in games (search for similar items in EconPapers)
JEL-codes: A12 B21 B25 B40 C72 C73 D87 (search for similar items in EconPapers)
Date: 2008-04-16
New Economics Papers: this item is included in nep-evo, nep-exp, nep-gth and nep-neu
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

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Related works:
Journal Article: ON AN EVOLUTIONARY FOUNDATION OF NEUROECONOMICS (2008) Downloads
Working Paper: On an Evolutionary Foundation of Neuroeconomics (2008) Downloads
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:8884

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