Journal
FRONTIERS IN PSYCHOLOGY
Volume 12, Issue -, Pages -Publisher
FRONTIERS MEDIA SA
DOI: 10.3389/fpsyg.2021.697375
Keywords
emotions; financial decisions and choices; choice theory; neurobiology; neurofinance; decision neuroscience; biomarkers
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Funding
- R@MAP Chair at The University of Melbourne
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Over the past 15 years, the intersection of neuroscience and economics has shed light on common misconceptions about emotions and decision-making, while also highlighting potential limitations of purely behavior-based research in capturing key features of human choice.
Over the last 15 years, a revolution has been taking place in neuroscience, whereby models and methods of economics have led to deeper insights into the neurobiological foundations of human decision-making. These have revealed a number of widespread mis-conceptions, among others, about the role of emotions. Furthermore, the findings suggest that a purely behavior-based approach to studying decisions may miss crucial features of human choice long appreciated in biology, such as Pavlovian approach. The findings could help economists formalize elusive concepts such as intuition, as I show here for financial trading intuition.
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