Brain Experts Now Follow the Money

June 17, 2003 | Source: New York Times

Neuroscientists are developing a new field of study, called neuroeconomics, to provide a theory of how people decide in economic and strategic situations.

To explore economic decision making, researchers are scanning the brains of people as they engage in a variety of games designed by experimental economists.
Some findings:

  • In making short-term predictions, neural systems tap into gut feelings and emotions.
  • The brain relies on the firing rates of a number of neurotransmitters in making choices.
  • Specific brain circuits monitor how people weigh different sources of rewards or punishments and how they allocate their attention.
  • The brain is particularly responsive to unexpected or unpredictable rewards. When uncertainty is high, as in gambling situations, the brain can get high on dopamine and even become addicted to it.
  • The brain seizes on patterns and deludes itself into thinking that short sequences predict long ones.

    Resarchers are planning next to study the brains of many people in scanners linked by the Internet as they play economic games.