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Commentary on Edmund Rolls: "Emotion and reason in human decision-making"

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  • Solms, Mark

Abstract

In his paper Emotion and reasoning in human decision-making (Economics Discussion Papers, No 2019-8) Edmund Rolls points out that multiple and independent types of reinforcement exist in the human brain, and that they cannot be reduced to a common currency. The present commentary introduces non-specialist readers to this wide variety of reinforcers, each of which carries equal biological value. The evolutionary forces underwriting them reveal much about the causes of our apparently irrational choices - which is why it is important for economists to acquaint themselves with such things.

Suggested Citation

  • Solms, Mark, 2019. "Commentary on Edmund Rolls: "Emotion and reason in human decision-making"," Economics Discussion Papers 2019-45, Kiel Institute for the World Economy (IfW Kiel).
    • Handle: RePEc:zbw:ifwedp:201945
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    File URL: http://www.economics-ejournal.org/economics/discussionpapers/2019-45
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    File URL: https://www.econstor.eu/bitstream/10419/200986/1/1670228797.pdf
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    References listed on IDEAS

    as
    1. Rolls, Edmund T., 2019. "Emotion and reasoning in human decision-making," Economics Discussion Papers 2019-8, Kiel Institute for the World Economy (IfW Kiel).
    2. Rolls, Edmund T., 2019. "Emotion and reasoning in human decision-making," Economics - The Open-Access, Open-Assessment E-Journal (2007-2020), Kiel Institute for the World Economy (IfW Kiel), vol. 13, pages 1-31.
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    More about this item

    Keywords

    decision-making; brain mechanisms; basic emotions; reward value; economicvalue; dominance hierarchies; macroeconomics; microeconomics; affective neuroscience;
    All these keywords.

    JEL classification:

    • D01 - Microeconomics - - General - - - Microeconomic Behavior: Underlying Principles
    • D87 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Neuroeconomics
    • D91 - Microeconomics - - Micro-Based Behavioral Economics - - - Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making
    • E71 - Macroeconomics and Monetary Economics - - Macro-Based Behavioral Economics - - - Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on the Macro Economy
    • G41 - Financial Economics - - Behavioral Finance - - - Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making in Financial Markets

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