Natural Rationality | decision-making in the economy of nature


A new book on neuroeconomics

Jason Zweig is a senior writer at Money Magazine, a financial magazine whose articles, according to wikipedia "cover the gamut of finance and technology topics, ranging from stocks and bonds to the world's greatest hacker and smallest wristwatch." Now the Money writer publishes a book on neuroeconomics, available on September 4: Your money and your brain : how the new science of neuroeconomics can help make you rich. (New York: Simon & Schuster). I did not read the book, so I can talk about its quality, but is looks good on paper.
Of course, it is an almost irritating title (I read about neuroeconomics for several years and I am not richer!), both because it sounds like another neuro-hype mantra and because it sells promises (how many books are supposed to make us happier, healthier, more confident, richer, more creative?). But since the book is dedicated primarily to investors, the tag line is not surprising.
However, a presentation of the book at suggest that it could be worth reading for non-investors also: in order to transforms neuroeconomics research in practical advices, Zweig summarizes these experiments and findings. Chapters are labelled “Knowing vs. Feeling,” “Greed,” “Prediction,” “Confidence,” “Risk,” “Fear,” “Surprise,” “Regret” and “Happiness.”; all these themes should interest scholars whose research focuses on economic cognition, decision-making and neuroeconomics. Thus this book could be read as a neuroeconomics compendium. Readers interested in applied neuroeconomics (0r "neurofinance") may also appreciate Brian Knutson's papers on investment and purchase decisions. (see this nice review for instance).