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Showing posts with the label neuroeconomics

The Neurological Approach to Economics: The measuring cup of the brain!

Inside the crevasses and cracks of your brain are the components to economic activity. Research has helped scientists understand that certain activation centers within the brain lead to economic activities associated with purchasing, ethical behavior, theft, choices, violating social norms and much more (Ruff , Ugazio, and Fehr, 2011). A new science entitled neuroeconomics moves to a deep micro analysis that may help to explain the macro-economic system in greater detail. Simply looking at the large economic system as a cold running machine gives one a static vision which does not offer an adequate discussion on the depth of human thought that makes up the final decision. The other half of commerce may be in the human brain and how we perceive our stake in the larger economic context. Through the internal workings of the mind we can begin to see how different choices are made based upon cellular activation. The field of neuroeconomics is new and is not yet widely studied at many un