alexa The Mathematics of the Brain.

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The Mathematics of the Brain.

There are many perspectives from which one can approach individual decision-making. Economics and other social sciences typically take an outward-oriented point of view, such that the main determinant of choices is not the set of cognitive capabilities of the individual but the object of the choice itself. Decisions are taken after carefully weighting benefits and costs, and these benefits and costs have to do with the object underlying the decision and not with the deliberative process on its own. A straightforward corollary of the outward-oriented decision-making perspective is that individuals are all alike: if what matters are the arguments of the choice and not who chooses, agents must decide exactly in the same way when faced with the same choice; in other words, full rationality must prevail. Furthermore, one does not need to know what happens in people’s brains: what matters is the preference the individual reveals when consummating the choice. These arguments are the building block of most of the contemporary economic theory, arguments that we can trace back to Samuelson et al, or Becker

 

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