Thursday, March 02, 2006
Behavioural economics/ Neuroeconomics
If you ask people, ‘Which do you want right now, fruit or chocolate?’ they say, ‘Chocolate!’ But if you ask, ‘Which one a week from now?’ they will say, ‘Fruit.’ Now we want chocolate, cigarettes, and a trashy movie. In the future, we want to eat fruit, to quit smoking, and to watch Bergman films.The Marketplace of Perceptions
Behavioral economics explains why we procrastinate, buy, borrow, and grab chocolate on the spur of the moment.
A branch of behavioral economics called neuroeconomics looks inside the brain with scanning tools like magnetic resonance imaging (MRI) to investigate patterns of motivation.
Both from Harvard Magazine