Category Archives: Neuroeconomics

The economics of regret on Science

This week Science publishes yet another paper on neuroeconomics. In Predicting Human Interactive Learning by Regret-Driven Neural Networks, Davide Marchiori and Massimo Warglien incorporated regret in a relatively simple model. They showed that their model fits well the behavior of players in 21 different economic experiments. Marchiori and Warglien defined regret as the difference between the outcome the actor choice yielded and the best outcome that could have been attained if the actor had made a different choice.

References

Marchiori Davide and Warglien Massimo (2008) Predicting Human Interactive Learning by Regret-Driven Neural Networks, Science, 22 February 2008; Vol 319, no 5866, pp.1111-1113 abstract

Cohen, MIchael, D. (2008) Learning with regret, Science, 22 February 2008; Vol 319, no 5866, pp.1052-1053.

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Social comparison and neuroeconomics: a critical view

The Economist’s blog Free Exchange in the post The comparative brain heavily criticizes Fliessbach’s et al (2007) study “Social Comparison Affects Reward-Related Brain Activity in the Human Ventral Striatum” ( abstract) published in Science, 23 November 2007.

Neuroeconomics in Finland and in Finnish

Marja-Liisa Halko will be presenting the paper Ultimatum Game with Responder Competition: a Neuroeconomic Study Thursday February 15, 2007, 10:3011:30 in Helsinki at Economicum, Arkadiankatu 7, VATTin meeting room 4th floor.

Marja-Liisa Halko has also written an introduction to neuroeconomics in Finnish called Mullistaako neurotaloustiede valintateorian?, published in Kansantalousdellinen aikakauskirja 1/2006.