Taiki Takahashi, Hokkaido University
The roles of psychophysical laws in human economic decision-making has recently been attracting attention. In this seminar, I will introduce how mathematical characteristics of psychophysical laws may account for several types of anomalies in human economic decision. The planned topics include hyperbolic time-discounting in intertemporal choice, Allais paradox in decision under risk, and the violation of Savage’s sure-thing principle in the Prisoner’s Dilemma Game. Future directions in combination of psychophysical and molecular neuroeconomics will also be discussed.