UE933 - COGSCI 313 - Behavioural and neuroeconomics

Intervenant·e·s

• Stefano Palminteri [référent·e]   chargé de recherche, CNRS

This course will provide an overview of the field of behavioural and neural economics, which studies the computational processes, involved in value-based decision-making as well as their neural implementation. We particularly focus on how decision variables, such as to the expected utility and its components (eg value, probability, risk and delay) are calculated and represented in the brain. The anchoring of decision-making into cognitive et computational processes allow correcting normative prespictions thanks to behavioural observations. The anchoring of decision-making processes to neural substrates, makes it possible to understand the deviations of rationality in the light of neurobiological constraints and to redefine the classic (descriptive) economic models in the form of neuro-computational (mechanistic) models.

Epistemological and methodological foundations

·       The Epistemological Foundations of Behavioural and Neural economics

·       Experimental methods in Economics and Game Theory

·       Experimental methods in Cognitive Neuroscience and Neurophysiology

·       Designing and Testing Computational Models

·       Computational Models of Decision Making in Psychology and Behavioral Economics

Neuro-computational models of simple economic choice 

·       The Computation of Stimulus Values in Simple Choice

·       From Experienced Utility to Decision Utility

·       Multistage Valuation Signals and Common Neural Currencies

Modulation of the utility function(s)

·       Valuation for risky, uncertain and ambiguous options

·       Prospect Theory and the Brain

·       Valuation, Inter-temporal Choice, and Self-Control

·       Integrating Benefits and Costs in Decision Making

·       The Neurobiology of Context-Dependent Valuation and Choice

Repeated choices and learning 

·       Value Learning through Reinforcement: Models

·       Value Learning through Reinforcement: Brain

·       Multiple Systems for Value Learning

·       The Experience-Description Gap

Economic choices in social contexts

·       Social Preferences and the Brain

·       Pharmacology of Social Decision Making

·       The Neural Basis of Strategic Choice

Conclusions and debates

·       What is and what is not Neuroeconomics?

·       From behavioural nudges to neuromarketing? Ethical dangers

·       Does the brain differentiate between value-based, probabilistic and perceptual decisions?

·       Has neuroeconomics delivered its promises?

·       What is the future of behavioural and neuroeconomics? Bioeconomics?