Saturday, June 19, 2010

Neuroscience and Animal Spirits in the Market: So Where's the Animal?

Neuroscience has impacted economics to create the new field of behavioral economics.  Traditionally, economics has assumed that we are all rational beings.  In light of our current economic crisis, I am not too sure how rationally we really are and that maybe behavioral economics has something to teach us given that traditional analyses have missed the mark.

People often make decisions based on:

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