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Centre for Behavioral and Neuroeconomics
The conventional model of Homo Economicus is based on assumptions of selfish preferences where utility depends only on own payoffs, and full rationality where people have complete self-control when making decisions. In the real world, however, the fact that people are boundedly rational (i.e. limited by cognitive and emotional abilities) is well established. People engage in behaviors to help others although this is costly, engage in unfavorable gambles and postpone costly events to the future to enjoy benefits today.
Recent breakthroughs in medical imaging and visualization allow us to study brain activity as subjects deal with real economic issues inside the magnetic resonance imaging camera. Exploring neurons activity as the brain process information in decision making experiments enable us to recognize how our minds interact with its external environment when making decisions.
By enriching neoclassical decision theory with knowledge from other disciplines, such as Neuroscience, Philosophy, Psychology, Medical Imaging and Statistics, we improve the design of experiments and move ahead in interpreting the results. Interdisciplinary collaborations give rise to a more thoroughly understanding of human decision-making processes, which allows us to make better predictions of social and economic behavior. More knowledge and better predictions lead to better institutions and sharper policies.
In our daily life we are surrounded by institutions that, in one way or another, aim at guiding us in our role as decision makers. Yet institutions are far from perfect and their inefficiency often lead people further away, rather than closer, to realize their ambitions. By distinguishing when and why our cognitive capacity fails us, we are able to design institutions that better cover up for our inability to make rational decisions that favor both our own interests and society’s.
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RECENT PEER-REVIEW PUBLICATIONS
Tinghög G, Andersson D, Bonn C, Böttiger H, Josephson C, Lundgren G, Västfjäll D, Kirchler M, Johannesson M. Intuition and cooperation reconsidered. NATURE 498:E1-E1doi:10.1038/nature12193
Genevsky, A., Västfjäll, D., Slovic, P., & Knutson, B. The evaluable victim effect: neural underpinnings of charitable behavior. Neuron. (in press).
Anders Eklunda, Hans Knutsson, Multivariate fMRI Analysis using CCA instead of Searchlight MVPA, Comment on Todd et al. (Submitted to Neuroimage)
Västfjäll, D. Dickert, S. & Slovic, P, (in press). Emotion and decision making. Emotion Review.
Västfjäll, D. (in press). Emotion regulation, neuroeconomics and aging. Translational Neuroscience
Dickert, S., Västfjäll, D., Mauro, R. & Slovic, P. (in press). The Feeling of Risk: Implications for risk perception and communication. Handbook of Risk Communication.
Dickert, S., Västfjäll, D., & Slovic, P. (in press). Neural economics and dual information processing underlying charitable giving. Neuroeconomics and Judgment.
Carpenter, S., Peters, E., Västfjäll, D. & Isen, A. (2013). Positive feelings facilitate working memory and complex decision making among older adults. Cognition and Emotion, 27, 184-192.
Omar F, Tinghög G, Carlsson P, Omnell-Persson M, Welin S: Priority Setting in Kidney Transplantation. Scandinavian Journal of Public Health (2013). vol. 41: 206–215
Tinghög G, Andersson D, Tinghög P, Lyttkens C.H.: Horizontal inequality when rationing by waiting lists. International Journal of Health Services (in press)
Anneli Gottfridsson and Hans Knutsson Modeling Signal and Noise Subspaces in fMRI Analysis, Sevenska sällskapet för automatiserad bildanalys (SSBA), Göteborg
Eklund A, Andersson M, Josephson C, Johannesson M, Knutsson H. Does parametric fMRI analysis with SPM yield valid results? An empirical study of 1484 rest datasets. NeuroImage 2012;61:565-578.
Anders Eklund, Mats Andersson, Hans Knutsson: fMRI Analysis on the GPU - Possibilities and Challenges", Computer Methods and Programs in Biomedicine, 105(2): 145-161, 2012.
Dickert, S., Västfjäll, D. Kleber, J. & Slovic, P (2012). Valuations of human lives: Normative expectations and psychological mechanisms of (ir)rationality. Synthese. 189, 95-105
Tinghög G: Discounting, preferences and paternalism in cost-effectiveness analysis. Health Care Analysis. (2012) vol 20 (3):297-318
Tinghög G, Carlsson P: Individual responsibility for health care financing. Scandinavian Journal of Public Health (2012) 40: 784-794.
Mooney G, Tinghög G, Kalkan A: The need for a new paradigm in health economics – the case of Scandinavia. Nordic Journal of Health Economics (2012) vol 1 (2):119-133.
Pettersson B, Hoffmann, Andersson D, Wändell P, Levin LÅ. Utilization and costs of glucose lowering therapies following health technology assessment for the new reimbursement scheme in Sweden. Health Policy 2012:108 207-215.
Carstensen J, Andersson D, André M, Engström S, Magnusson H & Borgquist L. How does comorbidity influence healthcare costs? A population-based cross-sectional study of depression, back pain and osteorarthritis. BMJ Open 2012;2
Tinghög G, Kalkan A: Public health and where its focus should be. Australian and New Zealand Journal of Public Health (2011) vol. 35(4):317
Omar F, Tinghög G, Welin S: Incentivizing deceased organ donation. Scandinavian Journal of Public Health (2011) vol. 2(4):104-110.
Anders Eklund, Mats Andersson, Hans Knutsson: Fast Random Permutation Tests Enable Objective Evaluation of Methods for Single Subject fMRI Analysis, International Journal of Biomedical Imaging (2011)
Last updated: 2013-08-30