Foundations of neuroeconomics: from philosophy to practice

Biopsychology serves as a vital bridge connecting the intricate domains of biology and psychology, shedding light on how biological systems influence psychological phenomena. This field scrutinizes the biological substrates of behavior and mental processes, emphasizing the nervous system along with the roles of neurotransmitters, hormones, and genetics. It also incorporates evolutionary perspectives to explain the adaptive nature of mental functions.
The nervous system, the cornerstone of...

Cognitive psychology emerged as a significant field in the mid-20th century. It focused on understanding humans' internal mental processes. This approach emphasizes how people perceive, remember, think, and solve problems—elements critical to human cognition.
Previously dominated by behaviorism, which prioritized observable behaviors and largely ignored mental processes, psychology transformed in the 1950s. Cognitive psychologists argue that understanding how we think and process information is...

The human brain processes information for decision-making using one of two routes: an intuitive system and a rational system (Epstein, 1994; popularized by Kahneman, 2011 as System 1 and System 2, respectively). The intuitive system is quick, impulsive, and operates with minimal effort, relying on emotions or habits to provide cues for what to do next, while the rational system is logical, analytical, deliberate, and methodical. Research in neuropsychology suggests that the brain can only use...

Sigmund Freud, an Austrian neurologist born in 1856, significantly influenced psychology through his exploration of the unconscious mind. His interest in patients suffering from hysteria and neurosis — conditions without apparent physical causes — led him to theorize the existence of an unconscious mind, a repository for feelings and urges beyond our awareness. Freud's innovative approach included techniques such as dream analysis, free association, and attention to slips of the tongue to...

Cognitive psychology is the field of psychology dedicated to examining how people think. It attempts to explain how and why we think the way we do by studying the interactions among human thinking, emotion, creativity, language, and problem-solving, as well as other cognitive processes. Cognitive psychology studies how information is processed and manipulated in remembering, thinking, and knowing.
This field emerged in the mid-20th century, following a period dominated by behaviorism, which...

Psychology is the scientific discipline dedicated to understanding both observable behavior and the internal mental processes underlying such behavior. It aims to comprehend human nature and apply this understanding to solve practical problems, enhance well-being, and improve societal outcomes. An example of psychology's application is the study of prosocial behavior, such as why and under what conditions individuals might help strangers in need. This process involves describing observed...