Rationality and intelligence in Neuroeconomics

Abstract

Recently, neuroeconomics---a unified discipline of economics and neuroscience---has been developed. Research topics of neuroeconomics include neural processing underlying decision under risk, intertemporal choice, and social preferences. Studies in neuroeconomics have revealed that human judgment and decision making usually violates classical rationality (e.g., Kolmogorovian probability theory, exponential time-discounting, von Neumann-Morgenstern’s expected utility theory). We observed that rationality and intelligence defined in terms of neuroeconomics is related to human intelligence and rationality in terms of cognitive science. These findings are relevant to problems in financial markets, artificial intelligence, and robotics.