From the moral to the neural: brain scans, decision-making, and the problematization of economic (ir)rationality

Abstract

ABSTRACTAdvances in brain imaging techniques have opened new fields of investigation and often challenged conventional assumptions concerning human behaviour. This ‘neuromolecular gaze’ [Rose, N. & Abi-Rached, J. (2013) Neuro: The New Brain Sciences and the Management of the Mind, Princeton University Press, Princeton, NJ] also heralds new ways of intervening in the regulation of social phenomena, based on the objectification of the cerebral processes that underlie individual conducts. Neuroeconomics applies this brain-centric perspective to the study of economic decision-making. This paper engages with the two dominant approaches in neuroeconomics. The first section concentrates on the work of Paul Glimcher, who considers economic models and their correlative notion of ‘utility maximization’ as providing the neurosciences with a theoretical framework as to how the brain solves decision problems. The second section discusses the findings of behavioural neuroeconomics, which attempts to model departures from the rationality axiom by measuring the cognitive and emotional biases that have their sources in the brain’s complex architecture. Whereas both strands of neuroeconomics rely on a benchmark of economic rationality, this paper argues that they reformulate in allegedly neutral neuroscientific terms a behavioural norm that is basically moral in nature. If rational decision-making conditions economic and indeed evolutionary survival, and yet if most people regularly fail as utility optimizers, then understanding the neural causes of such failures should help people better themselves and behave as good homines œconomici.