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Dual-process theories of decision-making: A selective survey

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  • Brocas, Isabelle
  • Carrillo, Juan D.

Abstract

Brain modularity is a key concept in neuroscience. It challenges the common view of the single coherent self adopted in many disciplines, including economics. Multi-process theories of decision-making rely on the existence of several brain systems interacting with each other to revisit standard paradigms of choice, propose choices that fit the behavioral data better, and offer testable predictions. In this paper, we present a selective review of our recent research in this area. We focus on constrained optimization models rather than the computational models extensively used in neuroscience.

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  • Brocas, Isabelle & Carrillo, Juan D., 2014. "Dual-process theories of decision-making: A selective survey," Journal of Economic Psychology, Elsevier, vol. 41(C), pages 45-54.
    • Handle: RePEc:eee:joepsy:v:41:y:2014:i:c:p:45-54
    DOI: 10.1016/j.joep.2013.01.004
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    More about this item

    Keywords

    Neuroeconomic theory; Decision-making; Dual-process; Constrained optimization;
    All these keywords.

    JEL classification:

    • D87 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Neuroeconomics

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