| Course Name | Neuroeconomics |
| Code | Semester | Theory (hour/week) | Application/Lab (hour/week) | Local Credits | ECTS |
|---|---|---|---|---|---|
| PSY 613 | Fall/Spring | 3 | 0 | 3 | 7.5 |
| Prerequisites | None | |||||
| Course Language | English | |||||
| Course Type | Elective | |||||
| Course Level | Third Cycle | |||||
| Mode of Delivery | - | |||||
| Teaching Methods and Techniques of the Course | DiscussionQ&ALecturing / Presentation | |||||
| Course Coordinator | - | |||||
| Course Lecturer(s) | ||||||
| Assistant(s) | - | |||||
| Course Objectives | The main goal of this course is to have the students acquire a deeper understanding of neural correlates of economic and social decision-making. |
| Learning Outcomes | The students who succeeded in this course;
|
| Course Description | The course will focus on our current state of knowledge regarding the neuroscience of decision-making, and how evidence concerning the neural processes associated with choices might be used to constrain or advance economic and psychological theories of decision making. Topics covered will include decisions involving risk and uncertainty, decisions that involve learning from experience, decisions in strategic interactions and games, and social preferences. |
| Related Sustainable Development Goals | |
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| Core Courses | |
| Major Area Courses | X | |
| Supportive Courses | ||
| Media and Managment Skills Courses | ||
| Transferable Skill Courses |
| Week | Subjects | Required Materials |
| 1 | Neuroscience Review | Neuroeconomics: Decision making and the brain,” edited by Glimcher, Camerer, Fehr and Poldrack, 2008, Elsevier Academic Press (Chapter 1) Kable JW and Glimcher PW (2009). The neurobiology of decision: consensus and controversy. Neuron, 63: 733-745. |
| 2 | Could neuroscience inform economics? | Neuroeconomics: Decision making and the brain,” edited by Glimcher, Camerer, Fehr and Poldrack, 2008, Elsevier Academic Press (Chapter 2) Clithero JA, Tankersley D, Huettel SA (2008). Foundations of neuroeconomics: from philosophy to practice. PLoS Biology, 6, e298. Camerer C (2007). Neuroeconomics: using neuroscience to make economic predictions. Economic Journal, 117, C26-C42 |
| 3 | Choice | Neuroeconomics: Decision making and the brain,” edited by Glimcher, Camerer, Fehr and Poldrack, 2008, Elsevier Academic Press (Chapter 3) Gold JI &Shadlen MN (2000). Representation of a perceptual decision in developing oculomotor commands. Nature, 404:390-394. KrajbichI, ArmelC, RangelA (2010).Visual fixations and comparison of value in simple choice. Nature Neuroscience, 13:1292-1298. |
| 4 | Valuation I: Decision-making under risk and uncertainty | Neuroeconomics: Decision making and the brain,” edited by Glimcher, Camerer, Fehr and Poldrack, 2008, Elsevier Academic Press (Chapter 10) Platt ML and Glimcher PW (1999). Neural correlates of decision variables in parietal cortex. Nature, 400,233-238. Tom S, Fox CR, Trepel C and Poldrack RA (2007). The neural basis of loss aversion in decision making under risk. Science, 315, 515-8 |
| 5 | Valuation II: Goods values and action values | Neuroeconomics: Decision making and the brain,” edited by Glimcher, Camerer, Fehr and Poldrack, 2008, Elsevier Academic Press (Chapter 10) Rudebeck PH, Behrens TE, Kennerley SW, Baxter MG, Buckley MJ, Walton ME, Rushworth MF (2008).Frontal cortex subregions play distinct roles in choices between actions and stimuli. Journal of Neuroscience, 28:13775-85. Fellows LK and Farah MJ (2007). The role of ventromedial prefrontal cortex in decision making: judgment under uncertainty or judgment per se? Cerebral Cortex, 17, 2669-74. WunderlichK, RangelA, O'DohertyJP (2009). Neural computations underlying action-based decision making in the human brain. Proceedings of the National Academy of Sciences, 106:17199-17204. |
| 6 | Value learning I: Dopamine | Neuroeconomics: Decision making and the brain,” edited by Glimcher, Camerer, Fehr and Poldrack, 2008, Elsevier Academic Press (Chapter 3) Schultz W, DayanP, and Montague PR (1997).A neural substrate of prediction and reward.Science, 275, 1593-1599. Pessiglione M, Seymour B, Flandin G, Dolan R and Frith C (2006).Dopamine-dependent prediction errors underpin reward-seeking behaviour in humans.Nature, 442,1042-1045 |
| 7 | Value learning II: Multiple learning systems | Neuroeconomics: Decision making and the brain,” edited by Glimcher, Camerer, Fehr and Poldrack, 2008, Elsevier Academic Press (Chapter 3)Glascher J, Daw ND, Dayan P, O’Doherty JP (2010). States vs. rewards: dissociable neural prediction error signals underlying model-based and model-free reinforcement learning. Neuron, 66: 585-595. Yin HH, Knowlton BJ and Balleine BW (2004).Lesions of dorsolateral striatum preserve outcome expectancy but disrupt habit formation in instrumental learning.European Journal of Neuroscience, 19, 181-189. Yin HH, Ostlund SB, Knowlton BJ and Balleine BW (2005).The role of the dorsomedial striatum in instrumental conditioning. European Journal of Neuroscience, 25, 513-523 |
| 8 | Social Preferences | Neuroeconomics: "Decision making and the brain" edited by Glimcher, Camerer, Fehr and Poldrack, 2008, Elsevier Academic Press (Chapter 5) Fehr Eand Camerer CF(2007). Social neuroeconomics: the neural circuitry of social preferences. Trends in CognitiveSciences,11,419-427 |
| 9 | Game theory and behavioral game theory | Neuroeconomics: Decision making and the brain,” edited by Glimcher, Camerer, Fehr and Poldrack, 2008, Elsevier Academic Press (Chapter 5) Hampton AN, Bossaerts P, and O’Doherty JP (2008). Neural correlates of mentalizing-related computations during strategic interactions in humans.Proceedings of the National Academy of Sciences, 105, 6741-6746. Seo H, Barraclough DJ, Lee D (2007).Dynamic signals related to choices and outcomes in the dorsolateral prefrontal cortex. Cerebral Cortex,17: i110-i117 |
| 10 | Trust, fairness & punishment | Neuroeconomics: Decision making and the brain,” edited by Glimcher, Camerer, Fehr and Poldrack, 2008, Elsevier Academic Press (Chapter 12). Kosfeld M, Heinrichs M, Zak P, Fischbacher U and Fehr E (2005). Oxytocin increases trust in humans.Nature,435, 673-676. Knoch D, Pascual-Leone A, Meyer K, Treyer V and Fehr E (2006). Diminishing reciprocal fairness by disrupting the right prefrontal cortex.Science, 314, 912-915. Knoch D, Nitsche MA, Fischbacher U, Eisenegger C, Pascual-Leone A and Fehr E (2008). Studying the neurobiology of social interaction with transcranial direct current stimulation—the example of punishing unfairness. Cerebral Cortex, 18, 1987-199 |
| 11 | Animal Decision Making | Neuroeconomics: Decision making and the brain,” edited by Glimcher, Camerer, Fehr and Poldrack, 2008, Elsevier Academic Press (Chapter 22) Silk JB, Brosnan SF, Vonk J, Henrich J, Povinelli DJ, Richardson AF, Lambeth SP, Mascaro J, Schapiro SJ (2005). Chimpanzees are indifferent to the welfare of other group members. Nature,435, 1357-1359. Lakshminarayanan V & Santos LR(2008). Capuchin monkeys are sensitive to others’ welfare. Current Biology, 18,R999-R1000. |
| 12 | Politics | Neuroeconomics: Decision making and the brain,” edited by Glimcher, Camerer, Fehr and Poldrack, 2008, Elsevier Academic Press (Chapter 13) Harbaugh W, Mayr U, Burghart D (2007).Neural responses to taxation and voluntary giving reveal motives for charitable donations. Science,316, 1622-1625. |
| 13 | Neuromarketing I | Neuroeconomics: Decision making and the brain,” edited by Glimcher, Camerer, Fehr and Poldrack, 2008, Elsevier Academic Press Ariely D&Berns GS (2010). Neuromarketing: the hope and hype of neuroimaging in business. Nature Reviews Neuroscience, 11, 284-292 |
| 14 | Neuromarketing II | Neuroeconomics: Decision making and the brain,” edited by Glimcher, Camerer, Fehr and Poldrack, 2008, Elsevier Academic Press (Chapter 28) Plassmann H, O'Doherty J, Shiv B, Rangel A (2008). Marketing actions can modulate neural representations of experienced pleasantness. Proceedings of the National Academy of Sciences, 22, 1050-4 |
| 15 | Neuromarketing III | Neuroeconomics: Decision making and the brain,” edited by Glimcher, Camerer, Fehr and Poldrack, 2008, Elsevier Academic Press (Chapter 28) Falk EB, Berkman ET, Mann T, Harrison B, Lieberman MD (2010). Predicting persuasion-induced behavior change from the brain. Journal of Neuroscience, 30, 8421-8424.. |
| 16 | Student Presentations |
| Course Notes/Textbooks | Neuroeconomics: Decision making and the brain,” edited by Glimcher, Camerer, Fehr and Poldrack, 2008, Elsevier Academic Press ISBN: 978-0-12-374176-9 |
| Suggested Readings/Materials | Articles listed in the syllabus |
| Semester Activities | Number | Weigthing |
| Participation | ||
| Laboratory / Application | ||
| Field Work | ||
| Quizzes / Studio Critiques | ||
| Portfolio | ||
| Homework / Assignments | ||
| Presentation / Jury | 3 | 60 |
| Project | ||
| Seminar / Workshop | ||
| Oral Exam | ||
| Midterm | ||
| Final Exam | 1 | 40 |
| Total |
| Weighting of Semester Activities on the Final Grade | 3 | 70 |
| Weighting of End-of-Semester Activities on the Final Grade | 1 | 30 |
| Total |
| Semester Activities | Number | Duration (Hours) | Workload |
|---|---|---|---|
| Course Hours (Including exam week: 16 x total hours) | 16 | 3 | 48 |
| Laboratory / Application Hours (Including exam week: 16 x total hours) | 16 | ||
| Study Hours Out of Class | 14 | 5 | 70 |
| Field Work | |||
| Quizzes / Studio Critiques | |||
| Portfolio | |||
| Homework / Assignments | |||
| Presentation / Jury | 3 | 21 | |
| Project | |||
| Seminar / Workshop | |||
| Oral Exam | |||
| Midterms | |||
| Final Exams | 1 | 44 | |
| Total | 225 |
| # | Program Competencies/Outcomes | * Contribution Level | ||||
1 | 2 | 3 | 4 | 5 | ||
| 1 | To be able to develop and deepen the current and advanced knowledge in the experimental science of psychology with original thought and/or research and come up with innovative definitions based on Master's degree qualifications. | X | ||||
| 2 | To be able to conceive the interdisciplinary interaction which the experimental psychology is related with, come up with original solutions by using knowledge requiring proficiency on analysis, synthesis and assessment of new and complex ideas. | X | ||||
| 3 | To be able to evaluate and use new methodological knowledge in a systematic way and gain higher level of skills on research methodology of the mind, behavior, and the brain. | X | ||||
| 4 | To be able to develop an innovative knowledge, method, design and/or practice or adapt an already known knowledge, method, design and/or practice to another field; research, conceive, design, adapt and implement an original subject. | X | ||||
| 5 | To be able to make critical analysis, synthesis and evaluation of new and complex ideas in the field of experimental psychology. | X | ||||
| 6 | To be able to develop new ideas and methods in the field of experimental psychology by using high level mental processes such as creative and critical thinking, problem solving and decision making. | X | ||||
| 7 | To be able to broaden the borders of the knowledge in the field by producing or interpreting an original work or publishing at least one scientific paper in the field in national and/or international refereed journals. | X | ||||
| 8 | To be able to organize and participate in scientific activities such as workshops, conferences, and panels to elaborate possible solutions to the problems which may be specific to experimental psychology or interdisiplinary. | X | ||||
| 9 | To be able to contribute to the transition of the community to an information society and its sustainability process by introducing scientific, technological, social or cultural improvements by following pioneer and innovative methods and theories of the mind, behavior and the brain trilogy. | X | ||||
| 10 | To be able to develope effective and functional means of communication to analyze mental relations and processes in the context of experimental psychology. | X | ||||
| 11 | To be able to contribute to the solution finding process regarding social, scientific, cultural and ethical problems in the field and support the development of these values. | X | ||||
| 12 | To be able to write an original dissertation in accordance with the criteria related to the field of Experimental Psychology. | X | ||||
| 13 | To be able to communicate and discuss orally, in written and visually with peers by using English language. | X | ||||
*1 Lowest, 2 Low, 3 Average, 4 High, 5 Highest
