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Publication Detailed Description
Journal Title
IIOAB Journal
Year (definitive publication)
2013
Language
English
Country
India
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Abstract
This paper analyzes the validity (and also the framework) of the rationality postulate on the moments of
decision-making by economic agents, as it is promoted by the economic and financial fields on
investigation, especially on microeconomic and portfolio theories and models. The main features
surrounding this postulate are addressed to the aims of this study and are criticized considering the
developments achieved on the neuroscience investigation on human being decision-making process.
There are considerable developments got in several areas, mainly for example in the area of the effects
of dopamine on the preference ordering (and the subsequent relation with the reversal of preferences
hypothesis), in the area of the proprieties of oxytocin on the decision and choice under social situations
and context, and in the areas of the somatic marker hypothesis and of the value of emotions. The
magnitude of the importance of memory processes (operative and long-term memory) in connection with
somatic states in decision-making problems is also highlighted. These features are sensitized on what
can constitute the basis for the construction and definition of an alternative profile of the economic agent,
which analysis will be tested later in the investigation, dealing with problems of decision-making and
choice in game theory environment (especially in dynamic or iterated games).
Acknowledgements
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Keywords
Decision-making; Rationality; Somatic marker hypothesis; Memory; Preferences
Fields of Science and Technology Classification
- Biological Sciences - Natural Sciences
- Basic Medicine - Medical and Health Sciences
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