I don’t really feel certified to have an opinion right here, however this piece, by Benjamin Y. Hayden and Yael Niv, appears of some curiosity:
A lot of conventional neuroeconomics proceeds from the speculation that worth is reified within the mind, that’s, that there are neurons or mind areas whose responses serve the discrete objective of encoding worth. This speculation is supported by the discovering that the exercise of many neurons and mind areas covaries with subjective worth as estimated in particular duties. Right here we contemplate another: that worth will not be represented within the mind. This concept is motivated by shut consideration of the financial idea of worth, which locations necessary epistemic constraints on our means to determine its neural foundation. It’s also motivated by the behavioral economics literature, particularly work on heuristics. Lastly, it’s buoyed by latest neural and behavioral findings concerning how animals and people study to decide on between choices. In gentle of our speculation, we critically reevaluate putative neural proof for the illustration of worth, and discover another: that brains straight study motion insurance policies. We delineate how this different can present a sturdy account of habits that concords with current empirical knowledge.
Through Benjamin Lyons.