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A Tractable Theory of Choice Based on Cell Behavior

Author

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  • Gonzalo Valdés-Edwards
  • Salvador Valdés-Prieto

Abstract

This paper presents a choice model based on a model for the behavior of brain cells that is based on neurological findings. The paper shows that it is possible to define choice as the result of a series of interconnected cellular processes, instead of framing the problem from the point of view of a single optimizing agent. Many of the desirable attributes of the latter are preserved. Under specific conditions identified here, the aggregate behavior of individual brain cells is similar to what a traditional rational optimizing agent would choose. This model is a first step to understand decision-making in terms of cellular interactions.

Suggested Citation

  • Gonzalo Valdés-Edwards & Salvador Valdés-Prieto, 2013. "A Tractable Theory of Choice Based on Cell Behavior," CESifo Working Paper Series 4424, CESifo.
    • Handle: RePEc:ces:ceswps:_4424
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    References listed on IDEAS

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    5. Dr. Peter Kenning & Hilke Plassmann, 2004. "NeuroEconomics," Experimental 0412005, University Library of Munich, Germany.
    6. Gilboa, Itzhak & Schmeidler, David & Wakker, Peter P., 2002. "Utility in Case-Based Decision Theory," Journal of Economic Theory, Elsevier, vol. 105(2), pages 483-502, August.
    7. Brocas, Isabelle & Carrillo, Juan D., 2012. "From perception to action: An economic model of brain processes," Games and Economic Behavior, Elsevier, vol. 75(1), pages 81-103.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    neuroeconomics; decision-making; economics of neural activity;
    All these keywords.

    JEL classification:

    • D87 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Neuroeconomics
    • D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty

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