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No Revolution Necessary: Neural Mechanisms For Economics

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  • Craver, Carl F.
  • Alexandrova, Anna

Abstract

We argue that neuroeconomics should be a mechanistic science. We defend this view as preferable both to a revolutionary perspective, according to which classical economics is eliminated in favour of neuroeconomics, and to a classical economic perspective, according to which economics is insulated from facts about psychology and neuroscience. We argue that, like other mechanistic sciences, neuroeconomics will earn its keep to the extent that it either reconfigures how economists think about decision-making or how neuroscientists think about brain mechanisms underlying behaviour. We discuss some ways that the search for mechanisms can bring about such top-down and bottom-up revision, and we consider some examples from the recent neuroeconomics literature of how varieties of progress of this sort might be achieved.

Suggested Citation

  • Craver, Carl F. & Alexandrova, Anna, 2008. "No Revolution Necessary: Neural Mechanisms For Economics," Economics and Philosophy, Cambridge University Press, vol. 24(3), pages 381-406, November.
    • Handle: RePEc:cup:ecnphi:v:24:y:2008:i:03:p:381-406_00
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    Cited by:

    1. repec:hal:pseose:halshs-01249632 is not listed on IDEAS
    2. Dietrich, Franz & List, Christian, 2016. "Mentalism Versus Behaviourism In Economics: A Philosophy-Of-Science Perspective," Economics and Philosophy, Cambridge University Press, vol. 32(2), pages 249-281, July.
    3. repec:hal:wpaper:halshs-01249632 is not listed on IDEAS
    4. Moscati, Ivan, 2021. "On the recent philosophy of decision theory," LSE Research Online Documents on Economics 115039, London School of Economics and Political Science, LSE Library.
    5. Anna Alexandrova & Daniel M. Haybron, 2011. "High-Fidelity Economics," Chapters, in: John B. Davis & D. Wade Hands (ed.), The Elgar Companion to Recent Economic Methodology, chapter 5, Edward Elgar Publishing.

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