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Midbrain Mutiny: The Picoeconomics and Neuroeconomics of Disordered Gambling: Economic Theory and Cognitive Science

Author

Listed:
  • Ross, Don

    (University of Cape Town)

  • Sharp, Carla

    (University of Houston)

  • Vuchinich, Rudy E.
  • Spurrett, David

    (University of KwaZulu-Natal, South Africa)

Abstract

The explanatory power of economic theory is tested by the phenomenon of irrational consumption, examples of which include such addictive behaviors as disordered and pathological gambling. Midbrain Mutiny examines different economic models of disordered gambling, using the frameworks of neuroeconomics (which analyzes decision making in the brain) and picoeconomics (which analyzes patterns of consumption behavior), and drawing on empirical evidence about behavior and the brain. The book describes addiction in neuroeconomic terms as chronic disruption of the balance between the midbrain dopamine system and the prefrontal and frontal serotonergic system, and reviews recent evidence from trials testing the effectiveness of antiaddiction drugs. The authors argue that the best way to understand disordered and addictive gambling is with a hybrid picoeconomic-neuroeconomic model.

Suggested Citation

  • Ross, Don & Sharp, Carla & Vuchinich, Rudy E. & Spurrett, David, . "Midbrain Mutiny: The Picoeconomics and Neuroeconomics of Disordered Gambling: Economic Theory and Cognitive Science," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262517582, April.
    • Handle: RePEc:mtp:titles:0262517582
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    Citations

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    Cited by:

    1. Dorian Jullien & Nicolas Vallois, 2014. "A probabilistic ghost in the experimental machine," Journal of Economic Methodology, Taylor & Francis Journals, vol. 21(3), pages 232-250, September.
    2. Davis, John B., 2010. "Neuroeconomics: Constructing identity," Journal of Economic Behavior & Organization, Elsevier, vol. 76(3), pages 574-583, December.
    3. Jose Chavaglia Neto & Jose Antonio Filipe & Brenno Ramalheiro, 2011. "Neuromarketing: Consumers and the Anchoring Effect," International Journal of Finance, Insurance and Risk Management, International Journal of Finance, Insurance and Risk Management, vol. 1(4), pages 183-183.
    4. Herrmann-Pillath Carsten, 2014. "Naturalizing Institutions: Evolutionary Principles and Application on the Case of Money," Journal of Economics and Statistics (Jahrbuecher fuer Nationaloekonomie und Statistik), De Gruyter, vol. 234(2-3), pages 388-421, April.
    5. Marco Stimolo, 2012. "Multiple-self models in neuroeconomics. A methodological critique," ICER Working Papers 07-2012, ICER - International Centre for Economic Research.
    6. Angé Weinrabe & Ian B. Hickie, 2021. "A multidisciplinary approach to evaluate the impact of emotional dysregulation on adolescent decision making," Palgrave Communications, Palgrave Macmillan, vol. 8(1), pages 1-11, December.
    7. Douglas M. Walker, 2013. "Casinonomics," Management for Professionals, Springer, edition 127, number 978-1-4614-7123-3, December.
    8. Ivan Boldyrev & Carsten Herrmann-Pillath, 2013. "Hegel’s “Objective Spirit”, extended mind, and the institutional nature of economic action," Mind & Society: Cognitive Studies in Economics and Social Sciences, Springer;Fondazione Rosselli, vol. 12(2), pages 177-202, November.
    9. Ivan Boldyrev & Carsten Herrmann-Pillath, 2012. "Hegel’s “Objective Spirit” and its Contemporary Relevance for the Philosophy of Economics," HSE Working papers WP BRP 05/HUM/2012, National Research University Higher School of Economics.
    10. Alex Blaszczynski, 2010. "Editor's Note," International Gambling Studies, Taylor & Francis Journals, vol. 10(2), pages 111-112, August.

    More about this item

    Keywords

    economic theory; neuroeconomics; picoeconomics; econometrics;
    All these keywords.

    JEL classification:

    • A1 - General Economics and Teaching - - General Economics
    • C0 - Mathematical and Quantitative Methods - - General

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