Economics and Philosophy

Essay

COMMENTS ON NEUROECONOMICS

Ariel Rubinsteina1

a1 The University of Tel Aviv Cafes and Department of Economics, New York University

Abstract

Neuroeconomics is examined critically using data on the response times of subjects who were asked to express their preferences in the context of the Allais Paradox. Different patterns of choice are found among the fast and slow responders. This suggests that we try to identify types of economic agents by the time they take to make their choices. Nevertheless, it is argued that it is far from clear if and how neuroeconomics will change economics.