Economic Theory And Cognitive Science
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Economic Theory And Cognitive Science
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Author : Don Ross
language : en
Publisher: National Geographic Books
Release Date : 2007-01-26
Economic Theory And Cognitive Science written by Don Ross and has been published by National Geographic Books this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007-01-26 with Psychology categories.
In this study, Don Ross explores the relationship of economics to other branches of behavioral science, asking, in the course of his analysis, under what interpretation economics is a sound empirical science. The book explores the relationships between economic theory and the theoretical foundations of related disciplines that are relevant to the day-to-day work of economics—the cognitive and behavioral sciences. It asks whether the increasingly sophisticated techniques of microeconomic analysis have revealed any deep empirical regularities—whether technical improvement represents improvement in any other sense. Casting Daniel Dennett and Kenneth Binmore as its intellectual heroes, the book proposes a comprehensive model of economic theory that, Ross argues, does not supplant, but recovers the core neoclassical insights, and counters the caricaturish conception of neoclassicism so derided by advocates of behavioral or evolutionary economics. Because he approaches his topic from the viewpoint of the philosophy of science, Ross devotes one chapter to the philosophical theory and terminology on which his argument depends and another to related philosophical issues. Two chapters provide the theoretical background in economics, one covering developments in neoclassical microeconomics and the other treating behavioral and experimental economics and evolutionary game theory. The three chapters at the heart of the argument then apply theses from the philosophy of cognitive science to foundational problems for economic theory. In these chapters, economists will find a genuinely new way of thinking about the implications of cognitive science for economics, and cognitive scientists will find in economic behavior, a new testing site for the explanations of cognitive science.
Cognitive Economics
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Author : Paul Bourgine
language : en
Publisher: Springer Science & Business Media
Release Date : 2013-03-20
Cognitive Economics written by Paul Bourgine and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-03-20 with Business & Economics categories.
The social sciences study knowing subjects and their interactions. A "cog nitive turn", based on cognitive science, has the potential to enrich these sciences considerably. Cognitive economics belongs within this movement of the social sciences. It aims to take into account the cognitive processes of individuals in economic theory, both on the level of the agent and on the level of their dynamic interactions and the resulting collective phenomena. This is an ambitious research programme that aims to link two levels of com plexity: the level of cognitive phenomena as studied and tested by cognitive science, and the level of collective phenomena produced by the economic in teractions between agents. Such an objective requires cooperation, not only between economists and cognitive scientists but also with mathematicians, physicists and computer scientists, in order to renew, study and simulate models of dynamical systems involving economic agents and their cognitive mechanisms. The hard core of classical economics is the General Equilibrium Theory, based on the optimising rationality of the agent and on static concepts of equilibrium, following a point of view systemised in the framework of Game Theory. The agent is considered "rational" if everything takes place as if he was maximising a function representing his preferences, his utility function.
Economics Bounded Rationality And The Cognitive Revolution
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Author : The late Herbert A. Simon
language : en
Publisher: Edward Elgar Publishing
Release Date :
Economics Bounded Rationality And The Cognitive Revolution written by The late Herbert A. Simon and has been published by Edward Elgar Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on with Business & Economics categories.
The purpose of this book is to publish the ideas of the late Herbert Simon and sympathetic economists, on the subject of bounded rationality, economics, cognitive science and related disciplines, and to reprint some of Professor Simon's classic papers which have appeared in journals not widely read by economists. Not only on account of his Nobel Prize in Economics, but also because of the widespread applications of his ideas and theories, it is especially valuable to readers to have a book of this kind at the present time. Currently in this whole field, there is increasing emphasis on computer-related theory building. Herbert Simon, beginning from the time when microcomputers did not exist, was a pioneer of this approach. The book begins with an edited transcript of a colloquium, held between Herbert Simon and a group of Italian economists in Italy in 1988. It continues with the reprinted Simon papers and papers by three scholars, Raymond Boudon, Massimo Egidi and Riccardo Viale coming from different disciplines but holding a common interest in bounded rationality and ends with a response by a sympathetic economist, Robin Marris.
A Framework For Cognitive Economics
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Author : Roger Mccain
language : en
Publisher: Praeger
Release Date : 1992-08-21
A Framework For Cognitive Economics written by Roger Mccain and has been published by Praeger this book supported file pdf, txt, epub, kindle and other format this book has been release on 1992-08-21 with Business & Economics categories.
This is the first book-length work to integrate the insights of cognitive science fully into economics. It reviews a wide range of related work in both fields and proposes new approaches to choice theory, rationality, and interaction (equilibrium) that are consistent with the limited cognitive capacity of real human beings. While joining with neoclassical economics in supporting the validity of supply-and-demand theory where it is literally applicable, McCain challenges most neoclassical theory, especially monopoly, oligopoly, and general equilibrium theory and welfare economics. His work aims to further and unite recent notions of behavioral and social economics. This important work will be of interest to behavioral, social, and Keynesian economists, as well as other social scientists and philosophers interested in economic phenomena.
Economics And Cognitive Science
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Author : Paul Bourgine
language : en
Publisher: Elsevier
Release Date : 2014-06-28
Economics And Cognitive Science written by Paul Bourgine and has been published by Elsevier this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-06-28 with Psychology categories.
Economics, dealing with mental processes of decision makers is part of cognitive science; conversely, cognitive science, faced with constraints on information processing, is part of economics. In July 1990, the Cecoia 2 conference was organised in Paris to further explore the connections between the two. The papers presented in this volume illustrate this truly interdisciplinary research intertwining social and cognitive sciences. Three main topics are represented: agent's mental representation when facing complex uncertainty; agent's computational constraints leading to bounded rationality; agent's learning and evolution in an imperfectly known environment.
Midbrain Mutiny
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Author : Don Ross
language : en
Publisher: MIT Press
Release Date : 2012-01-13
Midbrain Mutiny written by Don Ross and has been published by MIT Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-01-13 with Psychology categories.
An analysis of how economic theories can be used to understand disordered and pathological gambling that calls on empirical evidence about behavior and the brain and argues that addictive gambling is the basic form of all addiction. The explanatory power of economic theory is tested by the phenomenon of irrational consumption, examples of which include such addictive behaviors as disordered and pathological gambling. Midbrain Mutiny examines different economic models of disordered gambling, using the frameworks of neuroeconomics (which analyzes decision making in the brain) and picoeconomics (which analyzes patterns of consumption behavior), and drawing on empirical evidence about behavior and the brain. The book describes addiction in neuroeconomic terms as chronic disruption of the balance between the midbrain dopamine system and the prefrontal and frontal serotonergic system, and reviews recent evidence from trials testing the effectiveness of antiaddiction drugs. The authors argue that the best way to understand disordered and addictive gambling is with a hybrid picoeconomic-neuroeconomic model.
Decisions Uncertainty And The Brain
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Author : Paul W. Glimcher
language : en
Publisher: MIT Press
Release Date : 2004-09-17
Decisions Uncertainty And The Brain written by Paul W. Glimcher and has been published by MIT Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2004-09-17 with Medical categories.
In this provocative book, Paul Glimcher argues that economic theory may provide an alternative to the classical Cartesian model of the brain and behavior. Glimcher argues that Cartesian dualism operates from the false premise that the reflex is able to describe behavior in the real world that animals inhabit. A mathematically rich cognitive theory, he claims, could solve the most difficult problems that any environment could present, eliminating the need for dualism by eliminating the need for a reflex theory. Such a mathematically rigorous description of the neural processes that connect sensation and action, he explains, will have its roots in microeconomic theory. Economic theory allows physiologists to define both the optimal course of action that an animal might select and a mathematical route by which that optimal solution can be derived. Glimcher outlines what an economics-based cognitive model might look like and how one would begin to test it empirically. Along the way, he presents a fascinating history of neuroscience. He also discusses related questions about determinism, free will, and the stochastic nature of complex behavior.
Cognitive Developments In Economics
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Author : Salvatore Rizzello
language : en
Publisher: Routledge
Release Date : 2003-06-26
Cognitive Developments In Economics written by Salvatore Rizzello and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2003-06-26 with Business & Economics categories.
Cognitive Developments in Economics proposes an interdisciplinary approach to the study of human problem solving, choice, decision-making and change, to explain economic transactions, and the nature and evolution of organisations and institutions. The book contributes to a large spectrum of economic fields such as consumer theory, economics of the
The Limits Of Rationality
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Author : Karen Schweers Cook
language : en
Publisher: University of Chicago Press
Release Date : 2008-10-03
The Limits Of Rationality written by Karen Schweers Cook and has been published by University of Chicago Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008-10-03 with Political Science categories.
Prevailing economic theory presumes that agents act rationally when they make decisions, striving to maximize the efficient use of their resources. Psychology has repeatedly challenged the rational choice paradigm with persuasive evidence that people do not always make the optimal choice. Yet the paradigm has proven so successful a predictor that its use continues to flourish, fueled by debate across the social sciences over why it works so well. Intended to introduce novices to rational choice theory, this accessible, interdisciplinary book collects writings by leading researchers. The Limits of Rationality illuminates the rational choice paradigm of social and political behavior itself, identifies its limitations, clarifies the nature of current controversies, and offers suggestions for improving current models. In the first section of the book, contributors consider the theoretical foundations of rational choice. Models of rational choice play an important role in providing a standard of human action and the bases for constitutional design, but do they also succeed as explanatory models of behavior? Do empirical failures of these explanatory models constitute a telling condemnation of rational choice theory or do they open new avenues of investigation and theorizing? Emphasizing analyses of norms and institutions, the second and third sections of the book investigate areas in which rational choice theory might be extended in order to provide better models. The contributors evaluate the adequacy of analyses based on neoclassical economics, the potential contributions of game theory and cognitive science, and the consequences for the basic framework when unequal bargaining power and hierarchy are introduced.
Modern Principles Of Economic Mechanics Vol 1
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Author : Yingrui Yang
language : en
Publisher: Xlibris Corporation
Release Date : 2012-12-07
Modern Principles Of Economic Mechanics Vol 1 written by Yingrui Yang and has been published by Xlibris Corporation this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-12-07 with Self-Help categories.
Currently, economics and cognitive science are heavily rooted in Newtonian physics, successfully borrowing a great deal of modeling tools from it. This is a great achievement. You do not need quantum mechanics or theories of relativity to build a house or bridge. Nevertheless, no one would deny the importance of modern theoretical physics. I believe many intellectuals have realized the need to go beyond the limitations of the Newtonian tradition for means of social science research. The big question is how to do it and how to do it right. This book aims to integrate economics and cognitive science by applying theoretical physics from a modeling perspective. During the course of this book, necessary background knowledge preparations for understanding the content topics are also briefl y provided. Thus, this book is designed to be conceptually and instrumentally self-contained. Everyone interested should be able to read it.