Research Article

The Human Conception of Neuroeconomics: Homo-Neurobiologicus

Volume: 8 Number: 3 September 29, 2024
TR EN

The Human Conception of Neuroeconomics: Homo-Neurobiologicus

Abstract

One of the fundamental assumptions of neoclassical economics is the concept of the homo-æconomicus. This model assumes that individuals are rational, pursue personal interests, and aim to maximize their utility or profits based on choices determined by external factors. Neuroeconomics, however, challenges this idealized human model and focuses on understanding how people actually behave in the real world. By examining human decision-making processes and behaviors through laboratory studies and field analysis, neuroeconomics seeks to understand the neurobiological processes behind economic decisions. This approach suggests that people make decisions not only based on external factors or rationality but also influenced by emotions, thoughts, and their neurobiological structures. In this context, neuroeconomics points to a completely different nature of humans, contrary to the homo-æconomicus model: This human model, whose behavior is influenced by its social and economic nature and its neurobiology, is termed as homo-neurobiologicus. In this a person's economic decisions are largely determined by their neurobiological structure. The purpose of this study is to examine the homo-neurobiologicus which is the human understanding of neuroeconomics, and to highlight the differences and similarities between it and homo-æconomicus.

Keywords

Ethical Statement

This study is derived from the doctoral dissertation titled "Neuroeconomics: Is it a Renewed Face of Neoclassical Economics or a Critical Approach?" prepared by Hüsnü BİLİR (2017) under the supervision of Prof. Dr. Ufuk SERDAROĞLU in the Department of Economics at Gazi University, Institute of Social Sciences.

References

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  3. Bilir, H. (2017), Nöroiktisat: Neoklasik İktisadın Yenilenen Yüzü mü, Eleştirel Bir Yaklaşım mı? (Neuroeconomics: Is it a Renewed Face of Neoclassical Economics or a Critical Approach?), Yayınlanmamış Doktora Tezi, Gazi Üniversitesi Sosyal Bilimler Enstitüsü, Ankara.
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  6. Camerer, C. F. (2007). Neuroeconomics: Using Neuroscience to Make Economic Predictions, The Economic Journal, 117(519), 26-42.
  7. Camerer, C. F. & Fehr, E. (2006). When does ‘Economic Man’ Dominate Social Behavivor?, Science, 311(5757), 47-52.
  8. Davidson, P. (1994). Post-Keynesian Macroeconomic Theory, Aldershot: Edward Elgar Publishing.

Details

Primary Language

English

Subjects

Economic Methodology

Journal Section

Research Article

Early Pub Date

September 25, 2024

Publication Date

September 29, 2024

Submission Date

May 15, 2024

Acceptance Date

September 2, 2024

Published in Issue

Year 2024 Volume: 8 Number: 3

APA
Bilir, H. (2024). The Human Conception of Neuroeconomics: Homo-Neurobiologicus. Politik Ekonomik Kuram, 8(3), 774-783. https://doi.org/10.30586/pek.1484311
AMA
1.Bilir H. The Human Conception of Neuroeconomics: Homo-Neurobiologicus. Politik Ekonomik Kuram. 2024;8(3):774-783. doi:10.30586/pek.1484311
Chicago
Bilir, Hüsnü. 2024. “The Human Conception of Neuroeconomics: Homo-Neurobiologicus”. Politik Ekonomik Kuram 8 (3): 774-83. https://doi.org/10.30586/pek.1484311.
EndNote
Bilir H (September 1, 2024) The Human Conception of Neuroeconomics: Homo-Neurobiologicus. Politik Ekonomik Kuram 8 3 774–783.
IEEE
[1]H. Bilir, “The Human Conception of Neuroeconomics: Homo-Neurobiologicus”, Politik Ekonomik Kuram, vol. 8, no. 3, pp. 774–783, Sept. 2024, doi: 10.30586/pek.1484311.
ISNAD
Bilir, Hüsnü. “The Human Conception of Neuroeconomics: Homo-Neurobiologicus”. Politik Ekonomik Kuram 8/3 (September 1, 2024): 774-783. https://doi.org/10.30586/pek.1484311.
JAMA
1.Bilir H. The Human Conception of Neuroeconomics: Homo-Neurobiologicus. Politik Ekonomik Kuram. 2024;8:774–783.
MLA
Bilir, Hüsnü. “The Human Conception of Neuroeconomics: Homo-Neurobiologicus”. Politik Ekonomik Kuram, vol. 8, no. 3, Sept. 2024, pp. 774-83, doi:10.30586/pek.1484311.
Vancouver
1.Hüsnü Bilir. The Human Conception of Neuroeconomics: Homo-Neurobiologicus. Politik Ekonomik Kuram. 2024 Sep. 1;8(3):774-83. doi:10.30586/pek.1484311

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