ABSTRACT
This chapter looks at economic behavior and focuses on automatic processes, primarily the valuation of rewards and learning. Electroencephalography is relatively unobtrusive and portable compared to positron emission topography and functional magnetic resonance imaging but still a lot more involved than participating in a normal economic experiment. Simulating behavioral consequences and learning the connection between stimuli and reward are fundamental parts of making economic decisions. Dual-self models are probably not so important, therefore, in improving how well we can model economic behavior. While neuroeconomics is undoubtedly fascinating in understanding economic behavior, it is much harder to see how it can significantly help people to better model and predict economic behavior. Given that economic theories are usually judged on their ability to predict behavior, this is where neuroeconomics loses out.
