The Brain as a Hierarchical Organization

• 成果类型: Article
• 署名作者: Brocas, Isabelle; Carrillo, Juan D.
• 署名单位: University of Southern California
• 刊物名称: AMERICAN ECONOMIC REVIEW
• ISSN/ISSBN: 0002-8282
• DOI: 10.1257/aer.98.4.1312
• 发表日期: 2008
• 页码: 1312-1346
• 关键词: self-control; prefrontal cortex; decision-making; time preference; IMPULSE CONTROL; reward; Neuroeconomics; ECONOMICS; striatum; amygdala

摘要

Based on recent neuroscience evidence, we model the brain as a dual-system organization subject to three conflicts: asymmetric information, temporal horizon, and incentive salience. Under the first and second conflicts, we show that the uninformed system imposes a positive link between consumption and labor at every period. Furthermore, decreasing impatience endogenously emerges as a consequence of these two conflicts. Under the first and third conflicts, it becomes optimal to set a consumption cap. Finally, we discuss the behavioral implications of these rules for choice bracketing and expense tracking, and for consumption over the life cycle.