While the rules of economics (goodbye Lehman Brothers) assume that we all will act rationally and in our own best interest, truth is we’re a fickle and flighty people. So recent neuroscience research would argue (and it has long been so, as I’m reading in David Copperfield—poor Aunt Betsey!—right now).
A bevy of brain scientists explained their recent work on neuroeconomics last year at their big annual meeting in San Diego, as we reported in BrainWork. Three years ago we did an intro story, “Cha-Ching! Neural Processes Underlie Economic Decisions,” as well as an essay on how people can rationalize Rational Man Theory with the evidence that he’s not so much rational after all.
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