Neuroeconomic Model (NeM) of Economic Psychology (EP)
Abstract
The Paradigm on Bounded Rationality (BR) is much criticized, giving rise to the field of Economic Psychology (EP), but so far, a comprehensive alternative to BR is not presented!
Neuroeconomics (NE) is a new transdisciplinary field integrating Economics, Psychology and Neurology, based on the Triune Brain Model (TBM). Neuroeconomic trials identify general risk-willingness as a general parameter of economic behavior replacing the BR dogma. NE rediscovers the classical Tempers guiding individual economic behavior: - 1) Sensitivity-training on the Tempers improve collaborative skills and creativity by the Pilot-in-the-plane entrepreneurship - 2) Stress-management by meditation exercises and Biofeedback, increases QALY - 3) The marginal utility of Income declines by economic growth
Economics as Utilinarism operates as Quality-Adjusted Life Years (QALY) giving priority to the following macroeconomic-policies for the common best: - 4) Economic equalization by Universal Basic Income (UBI) increases total QALY - 5) Sustainable economy, subsidizing alternatives to fossil energy (ES), is the key to implementation of the Paris Agreement 2015
Economic-political challenges for dissemination of Socioeconomics are discussed.
Citation
Torben Larsen. Neuroeconomic Model (NeM) of Economic Psychology (EP). Neuro Beh Sci. 2026; 1(1). DOI: JINBS-26-006