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Behavioral Finance Roundtable “Neuroeconomics”. Union League Philadelphia, PA March 21, 2013. Barry D. Waterhouse, PhD. Neuroeconomics. Neural mechanisms underlying decision-making Business Neuroscience Psychology Social science. Movement. Sensation. Executive Functions - PowerPoint PPT Presentation
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Behavioral Finance Roundtable
“Neuroeconomics”
Barry D. Waterhouse, PhD
Union LeaguePhiladelphia, PAMarch 21, 2013
Neuroeconomics
Neural mechanisms underlying decision-making
•Business
•Neuroscience
•Psychology
•Social science
Movement Sensation
Executive Functions
Problem solvingDecision makingWorking memorySensory perceptionSalienceAttentionMulti-taskingComprehensionSequencing Creativity
Cognition
NeuroeconomicsFactors affecting decision-making:
•Prior experience - knowledge•Current behavioral state – affect, arousal •Innate capacity for risk taking •Reward valuation •Uncertainty – duress, anxiety•Reward history – recent vs extended•Stress
Gender - Age - Genetics - Drugs
Single Neuron Activity and Cognition
Behavior
Cognitive Enhancing Drugs
VTA Unit Discharge
Schultz et al, 1997
“One in five Nature readers -- mostly scientists – say they up their mental performance with drugs such as Ritalin, ……”,
“Living the off-label life”, …
December 27, 2008
“Towards responsible use of cognitive-enhancing drugs by the healthy”,
December 7, 2008Greely et al.
Recent Headlines
April 28, 2008
New York Times
Nature
Thursday November 8, 2007The Guardian
Ways to make you think better
Students and exhausted workers have been abusing stimulants for decades. But these days, if you're keen to feel sharper, and work for longer, the drugs available are more effective than they once were - and less likely to make you feel awful afterwards. No wonder then that the abuse of pills such as Ritalin and modafinil is becoming a major problem. Katharine Hibbert reports on the rise of cognitive-enhancing drugs ………
Ritalin…….drug of choice in college dorms for exam week …..
“kiddie coke” “Vitamin R”