Game Changer - the game theory podcast
The Economist's Brain: Tracing Choices with Neuroeconomic Insights | with Juan D. Carrillo
Feb 12, 2024
Neuroeconomic expert Juan D. Carrillo discusses the blend of economics and neuroscience in understanding decision making. Topics include multi-task decisions, self-control, impulsivity, resource allocation in the brain, neuroscience of food decisions, cues in decision making, and testable predictions in neuroeconomic theory.
27:26
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Quick takeaways
- Neuroeconomic theory blends economics and neuroscience to understand biological basis of decision-making.
- Resource allocation in the brain involves prioritizing tasks based on system demands and needs.
Deep dives
Combining Economics and Neuroscience to Understand Decision-Making
Juan de Carrillo, a professor of economics at the University of Southern California, discusses how the combination of economics and neuroscience, known as neuroeconomic theory, can provide new insights into the biological basis of decision-making. This interdisciplinary field aims to understand bounded rationality by integrating knowledge from economics and neuroscience. Rather than relying solely on behavioral observations, neuroeconomic theory uses principles from neuroscience to build models that explain decision-making processes. By studying resource allocation in the brain and self-control mechanisms, researchers can understand how the brain optimally allocates resources and how cues and environmental factors impact decision-making.
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