With his bestselling book ‘Thinking, Fast and Slow’, published in 2011, Nobel prize winner Daniel Kahneman set a landmark in economic theory and the non-rational aspects of human behavior and decision making.
Paul Glimcher, a neuroscientist at New York University has been one of the driving forces in the still young field of Neuroeconomics.
In a new working-paper Glimcher and his co-authors Kenway Louie, also of NYU, and Ryan Webb of the University of Toronto argue that their neuroscience-based model outperforms standard economic theory at explaining how people behave when faced with lots of choices.
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