Abstract
Learning is an important factor in decision making under a novel or unstable environment. Reinforcement learning theory is a promising framework as a computational model of the brain in the process of the decision making in humans and animals. The hypothesis of dopamine in learning signals has been established by a huge amount of experimental evidence in animal neurophysiology and human imaging studies. The quest for the detailed neural mechanism of decision making is the first step to develop an economic theory that can explain real human behavior including individual preference.
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Notes
- 1.
For Bayesian learning (also called rational learning) in economics, see, e.g., a survey paper by Evans and Honkapohja (1999).
- 2.
The technical term is “Markovian decision problem.”.
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Ogaki, M., Tanaka, S.C. (2017). Learning Theory and Experiments in Neuroeconomics. In: Behavioral Economics. Springer Texts in Business and Economics. Springer, Singapore. https://doi.org/10.1007/978-981-10-6439-5_7
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DOI: https://doi.org/10.1007/978-981-10-6439-5_7
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