Neuroeconomics: This one's for you Doubting Thomas

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jwilsn1020 Posted: Sun, Aug 9 2009 10:40 PM

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As few of you may very well know, the past decade has seen the advent of Neureconomics - a field of study which more or less adds a neurological foundation to basic economics insights. Basically, Praxeology has, with almost apodictic certainty, been verified. Neurons in the brain literally encode mathematical formula's (variables and all) for expected return (see Physiological Utility Theory: http://www.pubmedcentral.nih.gov/articlerender.fcgi?artid=1502377). Moving on a bit, this further illustrates how economics truly is the study of preference and resource allocation (given limitation on resources.. yes, including time). Of course the modern interpretation of economics pertains primarily, if not soley, to the fiscal market. So.. My question is: how long will it take for any of this to register with people?

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nameless replied on Tue, Aug 11 2009 1:50 AM

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Neureconomics -> Neur economics -> New Economics

Sorry, I couldn't resist.

To be honest, I don't think this will register with most people at all.

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jwilsn1020 replied on Wed, Aug 12 2009 3:50 PM

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well, that's really a shame, especially considering that it provides for a qualitative / scientific substratum for praxeology (and subsequently Austrian Economics).

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Rooster replied on Wed, Aug 12 2009 5:07 PM

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jwilsn1020:

Basically, Praxeology has, with almost apodictic certainty, been verified.

How? I skimmed the paper, but I don't see it.

And wouldn't that be a step down from being already apodictically certain?