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Neuroeconomics Hype or Hope? An Answer

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  • Alexandre Truc

    (Université Côte d'Azur, CNRS, GREDEG, France)

Abstract

In June of 2010, a special issue in the Journal of Economic Methodology was introduced with the question "Neuroeconomics: hype or hope?" (Marchionni and Vromen, 2010). More than ten years later, we think it is time to provide an answer. Using a variety of sources ranging from Web of Science to Econlit, we assess the importance of neuroeconomics as a research program in economics. We show that after a very rapid increase in interest in the early 2000s, neuroeconomics decreased in importance after the 2010s especially when compared to the continuing rise of behavioral economics. After exploring a few explanations regarding this decreasing interest, we compare neuroeconomics and behavioral economics to emphasize key points in the ways these two programs at the frontiers of economics were constructed. Most notably, we show that neuroeconomists were more confrontational in their approach of economics, more focused on programmatic writings with few theoretical contributions, and more importantly, more oriented towards neurosciences than economics. Overall, we do find that the first 20 years of neuroeconomics as a research program in itself can be qualified to be more hype than hope.

Suggested Citation

  • Alexandre Truc, 2022. "Neuroeconomics Hype or Hope? An Answer," GREDEG Working Papers 2022-26, Groupe de REcherche en Droit, Economie, Gestion (GREDEG CNRS), Université Côte d'Azur, France.
    • Handle: RePEc:gre:wpaper:2022-26
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    Keywords

    Interdisciplinarity; Neuroeconomics; Behavioral Economics; Psychology; Neuroscience;
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