In the past two decades, behavioral economics (import insights from psychology to economics) has become a prominent element in the intellectual landscape. In turn, gave rise to the field of Neuroeconomics, "in which the idea of Neuroscience imported in the economy. Study of the human brain and nervous system begin to allow for direct measurement of thoughts and feelings, and this, in turn, challenges our understanding of the relation between reason and action, which This leads to new theoretical constructs and challenge old question. authors describe the results currently includes automatic versus controlled processes and cognitive versus affective processes and their overall importance to the economy.
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by George Loewenstein, Colin Camerer, Drazen Prelec Source: Rotman School of Management, 5 pages. Publication Date: January 1, 2007. Prod. #: ROT038-PDF-ENG