What links neuroscience to agricultural economics? A review of neuroscientific methods literature in agricultural economic research and marketing

Abstract

Research into consumer behavior is confronted with a multitude of challenges and special features. These become apparent in economic decision-making situations in which actual behavior deviates massively from rational explanatory models, such as the model of homo economicus, or when discrepancies are observed between statements made by individuals and their actions. As a common intersection between the economic and the neurosciences, neuroeconomics investigates human decision-making behavior from a neuroscientific perspective. The focus is particularly on explaining these antagonisms of human behavior and deriving motives. With the help of this potentially expandable knowledge, it is possible to subtly influence individual purchasing decisions at the neural level and to predict consumer behavior at the market level. In agricultural economics, for example in the field of food marketing, neuroeconomics could contribute to more reflective purchasing decisions and thus counteract global health challenges such as obesity. To date, no research has been conducted into the extent to which neuroeconomics has already been applied in agricultural scientific research. The objectives of the article are to provide an aggregated basic knowledge in the field of neuroeconomics, taking into account the applied methods as well as a literary overview of previous research in the context of agricultural economics. The article addresses all those interested in getting an overview of what neuroeconomics entails and how it is already being applied in agricultural research without any prior neuroscience background.