NEUROECONOMICS THEORY Neuroeconomics is a field of study bridging neuroscience research on human choice behavior and economic theory. Neuroeconomics is the domain of economists, neuroscientists, psychologists, and physicians who are attempting to understand the neural basis of judgment and decision making, social behavior, and market economies. Experimental directions in this field include studies of game theory, risk, attention and awareness, learning, valuation, motivation, emotion, behavior, trust and attachment, and addictive behavior. Experimental methodologies include neuroimaging, genetic profiling, psychopharmacological manipulations, psychophysiology (EMG, ERP, and EEG), behavioral measures, psychological testing, blood chemistry (and hormone) analysis, and single neuron recording, among others. The new field of neuromarketing investigates product branding, preference, and purchase decisions via neuroscientific techniques. Please see the extensive reading list below. This page is a synthesis of the work of neuroscientists and economists who perform neuroscience research and the businesspeople who use it. An excellent introduction to Neuroeconomics for non-specialists, by Colin Camerer, is available here.

CONFERENCES AND EVENTS (2006) • The NeuroPsychoEconomics Conference will be held on October 9-10, 2006 in Berlin, Germany. • The 4th annual Society for Neuroeconomics conference will take place September 7-10, 2006 in Park City, Utah, USA. The 3nd Annual Neuroeconomics conference occurred September 2005 on Kiawah Island Resort, South Carolina, USA. It was hosted by the Society for Neuroeconomics. The Society for Neuroeconomics webpage is an excellent resource and will be updated more frequently than this page. • A summer course on neuroeconomics will be hosted by A. Rangel, P. Glimcher, and C. Camerer at Stanford University July 17-28, 2006. Email rangel'at'stanford.edu for more information.

UNIVERSITY COURSES AND DEDICATED LABS • Stanford University: A neuroeconomics lab at Stanford University has been organized by Antonio Rangel. Contact him to get on the email list. • Caltech University: Professors Colin Camerer and Steve Quartz have an excellent course syllabus with readings for their course "Neural Foundations of Social Science." • George Mason University: Kevin McCabe's Neuroeconomics course is offered at George Mason University, where he has also organized a neuroeconomics lab. • New York University: The Center for Neuroeconomics has formed there. • University of Muenster, Germany: The ConNEcs collaboration have performed important research in their joint Marketing-Neurology group. • An academic and commercial workgroup on Neuroeconomics at the University of Bonn Medical Centre, Germany and led by Prof. Dr. Christian E. Elger (FRCP): NeuroCognition • Hong Kong University: A Neuroeconomics study group has formed at Hong Kong University (HKUST) under the auspices of several students, including faculty Soo Hong Chew and economics graduate student Li King King.

NEUROMARKETING-RELATED BUSINESSES • Market Psychology Consulting. (Finance) San Francisico, CA, USA. See our neurofinance blog here. • Neurosense Limited. Oxford, UK. • Brighthouse Neurostrategies Group. Altlanta, GA, USA. • SalesBrain, LLC. San Francisco, CA, USA and Paris, France. • Shop Consult. Amstetten, Austria.

RESEARCH LABS Current research labs with contributions to neuroeconomics are listed below, primarily in the USA, Germany, and England. I’m less familiar with other European and Asian research. These are in no particular order: • Brian Knutson is an assistant professor and director of SPAN lab at Stanford University where Brian Knutson and collaborators, including Jamil Bhanji, Richard Peterson, Lis Nielson, Jonathon Taylor, Brian Denny, Matt Kaufman, Jamie Fitz, Camelia Kuhnen, Rebecca Cooney, and more, explore neural activations during financial tasks. See Camelia Kuhnen and Brian Knutson's new paper on financial decisions via Neuron ("Neural Basis of Financial Risk Taking"). • Wolfram Schultz at Cambridge University and collaborators including Fiorillo (now at Stanford), Suri, Dayan, and O’Doherty have produced excellent fMRI, single neuron recording, and computational modeling research. • Physicist Read Montague has an excellent, and well-funded, lab in Houston at which parallel fMRI scanners can record the neural activations of subjects during linked game-playing experiments. • Greg Berns at Emory University has collaborated with Montague on linking fMRI scanners, producing research that documents and models the neural basis of social cooperation (with Rilling) and learning. • Anthropologist James Rilling performs neuroimaging experiments of social cooperation and co-authored a recent Science article on the ultimatum game with Alan Sanfey, a cognitive neuroscientist who studies human judgment and decision-making. • Jonathan Cohen at Princeton University is working on the neural basis of economic decision making (e.g. the ultimatum game) and cognitive control issues. • Princeton Post-doc Sam McClure has released exciting research in collaboration with Read Montague (on brand preference), Jonathon Cohen (on discounting), and David Laibson (discounting). • Paul Zak runs the center for neuroeconomics sciences at Claremont Graduate University. His current research focuses the neurophysiology of social cognition including the neural basis for trust, neural substrates of decision-making under uncertainty, and institutional design to spur economic development. Think oxytocin and hormone studies. • Paul Glimcher has isolated the locus of Nash equilibrium computations in monkeys using single neuron recordings at his lab in New York City (NYU) Also released the first Neuroeconomics book: Glimcher, P. (2003). Decisions, uncertainty, and the brain: The science of neuroeconomics. Cambridge, MA: MIT Press. • Aldo Rustichini is an economist at the University of Minnesota who is modeling findings from neuroimaging into an economic framework, and he has done work on procedural choice. • Colin Camerer at CalTech is busily developing a transitional framework from neuroscience into economics. He published Behavioral Economics in Spring 2003. • Steve Quartz at CalTech is an associate professor of humanities and social sciences and a member of the computation and neural systems program. He is also director of the social cognitive neuroscience laboratory. • Antonio Damasio and Antoine Bechara are looking at the performance of subjects with neural lesions, personality disorders, substance addictions, and post-medication infusion (neurochemical manipulation) on their Gambling Task at the University of Iowa. • The neuro-economy department at the University of Münster (Hilke Plaßmann, Michael Deppe, Peter Kenning, Julia Krämer, Wolfram Schwindt, and Harald Kugel) have a collaboration among radiology, marketing, and neurology departments. Recent studies include an analysis of the neural activations and emotions associated with brand recognition. These researcher hosted "The 2nd Annual Conference on Neuroeconomics" in Muenster on May 26-28, 2004. A conference summary is here. • Scott Huettel at Duke University's Brain Imaging and Analysis Center has been performing some great studies of uncertainty, probablilty, and decision making. • Helen Mayberg, a neurologist in Toronto, has been performing fMRI research on the neural foundations of depression and the placebo effect, to name just two projects. • Hugo Critchley and Professor Ray Dolan at University College London investigate emotion and reward probability manipulations with fMRI and behavioral measures. • Rebecca Elliot (Manchester) is working with clinical populations and doing neuroimaging of the reward system and psychopharmacology (including the placebo effect). • Hans Breiter is a psychiatrist at Harvard Medical School who is performing neuroimaging research on the human reward system and its implications for addiction. • Peter Shizgal is a behavioral neurobiologist and experimental psychologist in Pennsylvania who studies brain mechanisms of reward, motivation, judgment, and decision-making. • Paul Slovic is president of Decision Research and a professor of psychology at the University of Oregon. He studies human judgment, decision making, and risk analysis. • Kevin McCabe is a professor of economics and law and holds appointments at George Mason's Interdisciplinary Center for Economic Science. He has an excellent blog on neuroeconomics here with summaries of the major research. • Andrew Lo, Dmitry Repin, and Itzahk Aharon are collaborating in the Laboratory of Financial Engineering at MIT. They have interesting publications upcoming regarding the personality traits of financial market traders and how emotions (as interpreted from news stories in the Wall Street Journal) affect the subsequent price level of the financial markets. • Henrik Walter and Susanne Erk will be at the Department of Psychiatry of the Johann Wolfgang-Goethe University Frankfurt starting 1st February 2005. While researchers at the University of Ulm department of Psychiatry, they investigated the role of affect in memory and decision making. They co-authored a 2002 paper on the neural activations associated with viewing images of sports cars, mid-class sedans, and luxury cars. Some of their research publications are here. • Antonio Rangel, assistant professor of economics at Stanford University, is using neural and psychological sciences to improve the design of public policy. He is also co-leading a bi-weekly neuroeconomics journal club at Stanford University. • Emanuel Donchin at the University of South Florida has been developing electrophysiological (such as EEG) techniques for interpreting mental processes. He has published research on financial strategy and bargaining games. • Scott Lane, professor in the dept of Psychiatry at UTHSC-Houston studies the psychopharmacology of impulsive and risky decision making and social interaction, including aggression, in normal and high risk (drug dependent and antisocial) populations. • John Cacioppo and his lab at The University of Chicago study the foundations of social neuroscience, decision making, affect and emotion among other topics. • Daniel Houser, an economist at George Mason University, studies the nature and neurocorrelates of individual differences in human decision making, and the consequences of individual differences for trust, reciprocity and cooperation in groups. • Sven Brautigam is a research fellow at The Open University, UK. He has recently published on the relationship between neural activity and brand perception. He has a background in physics and is unique in bringing the use of MEG into neuroeconomics research. • Tim Ambler is a senior fellow at the London Business School. He is performing research at the intersection of psychology and marketing. • Daeyeol Lee at the Center for Visual Science in the Department of Brain & Cognitive Sciences studies the neural basis of decision making in the prefrontal cortex of non-human primates during competitive games. • Andrea Groeppel-Klein is a professor at the European University, Viadrina. She has been researching physiological arousal during consumer purchasing. • Psychiatrist Martin Paulus (no link available) at UCSD studies decision making under uncertainty in normal and clinical (schizophrenic) populations. • Robert Rogers (no link available) and collaborators at Oxford are using medication and drug infusions to observe alterations in judgment and decision making during event-related and block-design monetary tasks, taking subjective measures and fMRI results. • Taiki Takahashi (no link available) is a research fellow with a background in physics and neuroscience at Hokkaido University, Japan. He has recently examined the role of stress hormones in social memory and trust. • Kirsten Volz (no link available) is a researcher at the Max Planck Institute for Human Cognitive and Brain Sciences in Germany. She has published an important fMRI study on the perception and resolution of uncertainty in the human brain. • Ching-Hung Lin (no link) at National University, Taiwan is studying preferences and physiological risk effects during decision-making in Damasio's gambling task.

READING LIST Please Note: Due to the proliferation of neuroeconomics literature in 2005, I will no longer be updating this reading list. Please use Pubmed for further research. Academic Review Articles: • Camerer C, Loewenstein, G., Prelec, D. "Neuroeconomics: How Neuroscience Can Inform Economics" SSRN working paper. In forthcoming Journal of Economics Perspectives. Here at SSRN. •Glimcher P. &Rustichini A. "Neuroeconomics: The Consilience of Brain and Decision." Science 2004 306: 447-452. Year 2005 (as of June): • Lane, S.D., Cherek, D.R., Tcheremissine, O.V., Lieving, L.M. & Pietras, C.J. (2005) Acute marijuana effects on human risk taking. Neuropsychopharmacology (online pdf). • Gonzalez et al. (2005). "The framing effect and risky decisions: Examining cognitive functions with fMRI" Journal of Economic Psychology (online at ScienceDirect). • Knutson, B. & Cooper, J. C. (2005). Functional magnetic resonance imaging of reward prediction. Current Opinion in Neurology, 18, 411-417. • Knutson, B., Taylor, J., Kaufman, M., Peterson, R., & Glover, G. (2005). Distributed neural representation of expected value. Journal of Neuroscience, 25, 4806-4812. • Knutson, B. & Peterson, R. (2005). Neurally reconstructing expected utility. Games and Economic Behavior. July, 2005. pdf. • Knutson, B. & Adcock, R. A. (2005). Remembrance of rewards past. Neuron, 45, 331-332. • Gilbert AM, Fiez JA. Integrating rewards and cognition in the frontal cortex. Cogn Affect Behav Neurosci. 2004 Dec;4(4):540-52. • King-Casas B, Tomlin D, Anen C, Camerer CF, Quartz SR, Montague PR. Getting to know you: reputation and trust in a two-person economic exchange. Science. 2005 Apr 1;308(5718):78-83. • Miller G.Neuroscience. Economic game shows how the brain builds trust. Science. 2005 Apr 1;308(5718):36. • Yarkoni T, Gray JR, Chrastil ER, Barch DM, Green L, Braver TS. Sustained neural activity associated with cognitive control during temporally extended decision making. Brain Res Cogn Brain Res. 2005 Apr;23(1):71-84. • Cohen MX, Heller AS, Ranganath C. Functional connectivity with anterior cingulate and orbitofrontal cortices during decision-making. Brain Res Cogn Brain Res. 2005 Apr;23(1):61-70. • Ursu S, Carter CS. Outcome representations, counterfactual comparisons and the human orbitofrontal cortex: implications for neuroimaging studies of decision-making. Brain Res Cogn Brain Res. 2005 Apr;23(1):51-60. • Hare TA, Tottenham N, Davidson MC, Glover GH, Casey BJ. Contributions of amygdala and striatal activity in emotion regulation. Biol Psychiatry. 2005 Mar 15;57(6):624-32. • Wittmann BC, Schott BH, Guderian S, Frey JU, Heinze HJ, Duzel E. Reward-related FMRI activation of dopaminergic midbrain is associated with enhanced hippocampus-dependent long-term memory formation. Neuron. 2005 Feb 3;45(3):459-67. • Knutson B, Adcock RA. Remembrance of rewards past. Neuron. 2005 Feb 3;45(3):331-2. • Delgado MR, Miller MM, Inati S, Phelps EA. An fMRI study of reward-related probability learning. Neuroimage. 2005 Feb 1;24(3):862-73. Epub 2004 Nov 18. • Reuter J, Raedler T, Rose M, Hand I, Glascher J, Buchel C. Links Pathological gambling is linked to reduced activation of the mesolimbic reward system. Nat Neurosci. 2005 Feb;8(2):147-8. Epub 2005 Jan 9. • Eagleman DM. Comment on "The involvement of the orbitofrontal cortex in the experience of regret". Science. 2005 May 27;308(5726):1260. • Fishbein DH, Eldreth DL, Hyde C, Matochik JA, London ED, Contoreggi C, Kurian V, Kimes AS, Breeden A, Grant S. Risky decision making and the anterior cingulate cortex in abstinent drug abusers and nonusers. Brain Res Cogn Brain Res. 2005 Apr;23(1):119-36. • Levine B, Black SE, Cheung G, Campbell A, O'Toole C, Schwartz ML. Gambling task performance in traumatic brain injury: relationships to injury severity, atrophy, lesion location, and cognitive and psychosocial outcome. Cogn Behav Neurol. 2005 Mar;18(1):45-54. • Brand M, Labudda K, Kalbe E, Hilker R, Emmans D, Fuchs G, Kessler J, Markowitsch HJ. Decision-making impairments in patients with Parkinson's disease. Behav Neurol. 2004;15(3-4):77-85. • Brand M, Kalbe E, Labudda K, Fujiwara E, Kessler J, Markowitsch HJ. Related Decision-making impairments in patients with pathological gambling. Psychiatry Res. 2005 Jan 30;133(1):91-9. • Jollant F, Bellivier F, Leboyer M, Astruc B, Torres S, Verdier R, Castelnau D, Malafosse A, Courtet P. Impaired decision making in suicide attempters. Am J Psychiatry. 2005 Feb;162(2):304-10. • Spinella M, Lester D, Yang B. Gambling and delaying rewards as a function of frontal system dysfunction: a study in neuroeconomics. Percept Mot Skills. 2004 Dec;99(3 Pt 1):993-4. • Reuter J, Raedler T, Rose M, Hand I, Glascher J, Buchel C. Links Pathological gambling is linked to reduced activation of the mesolimbic reward system. Nat Neurosci. 2005 Feb;8(2):147-8. Epub 2005 Jan 9. • Fukui H, Murai T, Fukuyama H, Hayashi T, Hanakawa T. Functional activity related to risk anticipation during performance of the Iowa Gambling Task. Neuroimage. 2005 Jan 1;24(1):253-9. • Shurman B, Horan WP, Nuechterlein KH. Schizophrenia patients demonstrate a distinctive pattern of decision-making impairment on the Iowa Gambling Task. Schizophr Res. 2005 Jan 1;72(2-3):215-24. • Martin CO, Denburg NL, Tranel D, Granner MA, Bechara A.The effects of vagus nerve stimulation on decision-making. Cortex. 2004 Sep-Dec;40(4-5):605-12. • Paulus MP, Feinstein JS, Castillo G, Simmons AN, Stein MB. Dose-dependent decrease of activation in bilateral amygdala and insula by lorazepam during emotion processing. Arch Gen Psychiatry. 2005 Mar;62(3):282-8. • Wright P, He G, Shapira NA, Goodman WK, Liu Y. Disgust and the insula: fMRI responses to pictures of mutilation and contamination. Neuroreport. 2004 Oct 25;15(15):2347-51. • Simmons A, Matthews SC, Stein MB, Paulus MP. Anticipation of emotionally aversive visual stimuli activates right insula. Neuroreport. 2004 Oct 5;15(14):2261-5. Year 2004: • de Quervain DJ, Fischbacher U, Treyer V, Schellhammer M, Schnyder U, Buck A, Fehr E. "The neural basis of altruistic punishment." Science 305, 1254 (2004). • Knutson B. "Behavior. Sweet revenge?" Science. 2004 Aug 27;305(5688):1254-8. • Lane, SD, Cherek, DR, Pietras, CJ, & Tcheremissine, OV (2004). Alcohol effects on human risk taking. Psychopharmacology, 172, 68-77. • Matthews SC, Simmons AN, Lane SD, Paulus MP (2004). Selective activation of the nucleus accumbens during risk-taking decision making. Neuroreport, 15, 2123-2127. • Samuel M. McClure,1,2 Jian Li,1 Damon Tomlin, Kim S. Cypert, Latane´ M. Montague, and P. Read Montague. "Neural Correlates of Behavioral Preference for Culturally Familiar Drinks." Neuron, Vol. 44, 379-387, October 14, 2004. • Hornak J, O'Doherty J, Bramham J, Rolls ET, Morris RG, Bullock PR, Polkey CE. "Reward-related reversal learning after surgical excisions in orbito-frontal or dorsolateral prefrontal cortex in humans." J Cogn Neurosci. 2004 Apr;16(3):463-78. • Terrence R. Chorvat , Kevin McCabe and Vernon Smith. "Law & Neuroeconomics." SSRN working paper. • Colin Camerer , George Loewenstein and Drazen Prelec. "Neuroeconomics: Why Economics Needs Brains." Scandinavian Journal of Economics, Vol. 106, No. 3, pp. 555-579, September 2004. • Paul J. Zak. "Neuroeconomics." Philosophical Transactions of the Royal Society Biology, Forthcoming. Now on SSRN. • Walter H (2004) "Neurophilosophical perspectives on conservative compatibilism." In Schramme T, Thome J (eds) Philosophy and Psychiatry. de Gruyter, pp. 283-294. • Walter et al. (2004) "Understanding intentions in social interaction: The role of the anterior paracingulate cortex." Journal of Cognitive Neuroscience, im Druck. • Rilling JK, Sanfey AG, Aronson JA, Nystrom LE, Cohen JD. Opposing BOLD responses to reciprocated and unreciprocated altruism in putative reward pathways. Neuroreport. 2004 Nov 15;15(16):2539-43. • Davidson MC, Horvitz JC, Tottenham N, Fossella JA, Watts R, Ulug AM, Casey BJ. Differential cingulate and caudate activation following unexpected nonrewarding stimuli. Neuroimage. 2004 Nov;23(3):1039-45. • Ramnani N, Elliott R, Athwal BS, Passingham RE. Prediction error for free monetary reward in the human prefrontal cortex. Neuroimage. 2004 Nov;23(3):777-86. • Ullsperger M, von Cramon DY.Neuroimaging of performance monitoring: error detection and beyond. Cortex. 2004 Sep-Dec;40(4-5):593-604. • McClure SM, Laibson DI, Loewenstein G, Cohen JD. Separate neural systems value immediate and delayed monetary rewards. Science. 2004 Oct 15;306(5695):503-7. • Lane SD, Cherek DR, Pietras CJ, Steinberg JL, Performance of Heavy Marijuana-smoking Adolescents on a Laboratory Measure of Motivation. Addictive Behaviors. 30(4):815-28. May 2005. • Lane SD,Tcheremissine, OV,Lieving, LM,Nouvion, SO,Cherek, DR, Acute Effects of Alprazolam on Risky Decision Making in Humans. Psychopharmacology. Apr 2005. • Lane SD,Cherek DR,Tcheremissine OV,Lieving LM,Pietras CJ, Acute Marijuana Effects on Human Risk Taking. Neuropsychopharmacology : Official Publication of the American College of Neuropsychopharmacology. 30(4):800-9. Apr 2005. • Lane SD,Cherek DR,Lieving LM,Tcheremissine OV,Marijuana Effects on Human Forgetting Functions. Journal of the Experimental Analysis of Behavior. 83(1):67-83. Jan 2005. • Matthews SC,Simmons AN,Lane SD,Paulus MP,Selective Activation of the Nucleus Accumbens During Risk-taking Decision Making. Neuroreport. 15(13):2123-7. Sep 2004. • Lane SD,Cherek DR,Pietras CJ,Tcheremissine OV, Alcohol Effects on Human Risk Taking. Psychopharmacology. 172(1):68-77. Feb 2004. Years 1995-2003 Popular Press: •A recent New York Times article on Neuromarketing. •Blakeslee, S. “Brain experts now follow the money.” New York Times, June 17, 2003. •Peterson, R. (2003). Probing the brain of an investor: How advances in neuroscience are demystifying the markets. html. •Postrel, V. (2003). “Looking inside the brains of the stingy.” New York Times, February 23, 2003. •Wells, M. (2003). "In Search of the Buy Button" (c) 09.01.03 Forbes.com. html. •Zweig, J. (2002) “Are you wired for wealth?” Money Magazine. October, 2002. Academic Neuroscience: •Camerer, C., Loewenstein, G., & Prelec, D. (2003). Neuroeconomics: How neuroscience can inform economics. pdf •Glimcher, P. (2003). Decisions, uncertainty, and the brain: The science of neuroeconomics. Cambridge, MA: MIT Press. •Peterson, R. Book review of Decisions, Uncertainty, and the Brain: The science of neuroeconomics. html. •Special Review Issue on Reward and Decision. (2002). Neuron, (36)2. •Paulus MP, Rogalsky C, Simmons A, Feinstein JS, Stein MB. Increased activation in the right insula during risk-taking decision making is related to harm avoidance and neuroticism. Neuroimage. 2003 Aug;19(4):1439-48. •Grafman, J., 2002, in The Frontal Lobes (eds. D. Stuss and R. Knight) pp. 292-310, oxford U.K: Oxford University Press. •Wood, Jacqueline, and Jordan Grafman, 2003. Human prefrontal cortex: Processing and representational perspectives. Nature Reviews Neuroscience, 4, pp. 139-147.J. D. •Cohen, M. Botvinick, C. S. Carter. 2000. Anterior cingulate and prefrontal cortex: who's in control? Nature Neuroscience 3, 421 - 423. •John G. Kerns, Jonathan D. Cohen, Angus W. MacDonald III, Raymond Y. Cho, V. Andrew Stenger, Cameron S. Carter. 2004. Anterior Cingulate Conflict Monitoring and Adjustments in Control. Science 303, 1023-1026. •Frith, C.D. and Frith, U. (1999) "Interacting minds - a biological basis." Science 286, 1692-1695 •Gallagher Helen L., and Christopher D. Frith (2003), "Functional imaging of 'theory of mind'," TRENDS in Cognitive Sciences, Vol.7 No.2, pp. 77 - 83. •McCabe, Kevin, D. Houser, L. Ryan, Vernon Smith, and T. Trouard. 2001. "A Functional Imaging Study of 'Theory of Mind' in Two-Person Reciprocal Exchange." Proceedings of the National Academy of Sciences 98, pp. 11832-11835. •Rilling, James, David Gutman, Thorsten Zeh, Giuseppe Pagnoni, Greogory Berns, Clinton Kilts, 2002. A neural basis for cooperation. Neuron, 35, pp. 395-405. •Gallagher, H.L., et. al., 2002. Imaging the intentional stance. NeuroImage, 16, pp. 814-821. •Sanfey, Alan, James Rilling, Jessica Aronson, Leigh Nystrom, and Jonathan Cohen, 2003. The neural basis of economic decision making in the Ultimatum Game, Science, June 2003. •Glimcher, Paul, (2002). Decisions, Decisions, Decisions: Choosing a Biological Science of Choice, Neuron, 36, pp. 323-332. •Schultz, Wolfram, (2000). Multiple Reward Signals in the Brain. Nature Reviews Neuroscience, 1, pp. 189-207 •Schultz, Wolfram, Peter Dayan, and Read Montague, "A Neural Substrate of Prediction and Reward," Science, 1997(275), pp. 1593-1599. •Fiorillo, Christopher, Philippe Tobler, Wolfram Schultz, 2003. Discrete coding of reward probability and uncertainty by dopamine neurons. Science, 299, pp. 1898-1902. •Shizgal, Peter, and Andreas Arvanitogiannis, 2003. Gambling on dopamine. Science, 299, pp. 1856-1858. •Shizgal, Peter. "Neural basis of utility estimation," Current Opinions in Neurobiology, 1997, 7(2), 198-208. •Shigzal, Peter, "On the neural computation of utility: implications from studies of brain stimulation reward," in D. Kahneman, E. Diener & N. Schwartz, Eds. Well-Being: The Foundations of Hedonic Psychology, New York: Russell Sage Foundation, 1999, pp. 502-526. •Montague, Reed, and Gregory Berns (2002). Neural Economics and the Biological Substrates of Valuation, Neuron, 36, pp. 265-284 •Engelman, D.L., C Person, and R. Montague (1998). A computational role for dopamine delivery in human decision-making. Journal of Cognitive Neuroscience, 10, pp. 623-630. •Berns, G.S., McClure, S.M., Pagnoni, G. and Montague, P.R.. Predictability modulates human brain response to reward. Journal of Neuroscience, 21, pp. 2793-2798. •Tremblay, L. & Schultz, W.,1999. Relative reward preference in primate orbitofrontal cortex, Nature 398, 704-708. •Platt, Michael and Paul W. Glimcher, 1999. Neural correlates of decision variables in parietal cortex, Nature, 400, pp. 233-238. •Thut, Gregor, Wolfram Schultz, Ulrich Roelcke, Matthias Nienhusmeier, John Missimer, Paul Maguire, and Klaus Leenders, (1997). Activation of the human brain by monetary reward, NeuroReport, 8, pp. 1225-1228. •Knutson, Brian, Andrew Westdorp, Erica Kaiser, and Daniel Hommer, (2000). FMRI Visualization of Brain Activity during a Monetary Incentive Delay Task," NeuroImage, 12, pp. 20-27. •Knutson, B., Adams, C. M., Fong, G. W., & Hommer, D. (2001). Anticipation of increasing monetary reward selectively recruits nucleus accumbens. Journal of Neuroscience, 21(RC159), 1-5. •Knutson, B., Fong, G. W., Adams, C. M., Varner, J. L., & Hommer, D. (2001). Dissociation of reward anticipation and outcome with event-related FMRI. NeuroReport, 12, 3683-3687. •Breiter, H. C., Aharon, I., Kahneman, D., Dale, A., & Shizgal, P, 2001, "Functional imaging of neural responses to expectancy and experience of monetary gains and losses," Neuron, 30, pp. 619-639. •Bechara, Antoine, Hanna Damasio, Daniel Tranel, Antonio Damascio, " Deciding Advantageously Before Knowing the Advantageous Startegy," Science, 1997(275), pp. 1293-1295. •Damasio, A. R., D. Tranel, and H. Damasio, 1991. Somatic markers and the guidance of behavior: Theory and preliminary testing. In H.S. Levine, H.M. Eisenberg, A.L. Benton, eds., Frontal Lobe Function and Dysfunction (pp. 217-229). New York: Oxford University Press. •O'Doherty J., M. Kringelbach, E. Rolls, and C. Andrews, 2001. Abstract reward and punishment representations in the human orbitofrontal cortex. Nature Neuroscience, (4)1, pp. 95-102. •Smith, Kip, John Dickhaut, Kevin McCabe, and Jose Pardo, (2002). Neuronal Substrates for Choice under Ambiguity, Risk, Gains, and Losses, Management Science, 48, pp. 711-718. •Goel, Vinod, Jordan Grafman, Jinous Tajik, Sheldon Gana, and David Danto, "A study of the performance of patients with frontal lobe lesions in a financial planning task," Brain, 1997(120), pp. 1805-1822. •Barraclough DJ, Conroy ML, Lee D (2004) Prefrontal cortex and decision making in a mixed-strategy game. Nature Neurosci. 7: 404-410. •LeDoux, Joseph, Synaptic Self, Penguin Books, New York, New York. 2002. •Walter et al. (2003) Content, context and cognitive style in mood-memory interactions. TICS 7: 433-4. •Erk et al. (2002). Functional Neuroimaging of depression. In: Kaschka WP (ed) Perspectives in Affective Disorders. Karger, Basel, S.. 63-69 •Erk et al. (2003) Emotional context modulates subsequent memory effect. Neuroimage 18: 439-447 •Erk et al. (2002) Cultural objects modulate reward circuitry. Neuroreport 13:2499-2503. Academic Economics: •Camerer, Colin. (2003). Behavioral Game Theory. Princeton University Press. •McCabe, Kevin. 2002. Neuroeconomics. Encyclopedia of Cognitive Science, Lynn Nadel ed., Nature Publishing Group. •Gigerenzer, Gerd, and Reinhard Selten. Bounded Rationality: The Adaptive Toolbox. Massachusetts Institute of Technology Press, London England, 2001. •Smith, Vernon (2000), Bargaining and market behavior : essays in experimental economics. Cambridge, Cambridge University Press. •Robson, Arthur, (2001). The Biological Basis of Economic Behavior, Journal of Economic Literature, 34, pp. 11-31. •Kahneman, Daniel; Wakker, Peter P. and Sarin, Rakesh. "Back to Bentham? Explorations of Experienced Utility." Quarterly Journal of Economics, May 1997, 112(2), pp. 375-405. Press, 2000. •Friedman, M. and J. Savage, 1984. The utility analysis of choices involving risks. The Journal of Political Economy, 56, pp. 279-304. •Dickhaut, John, Kevin McCabe, Jennifer Nagode, Kip Smith, and Jose Pardo, 2003. The role of context in choice: The effect of different comparison gambles on risky behavior, Proceedings of the National Academy of Sciences, (100)2003, pp. 3536-3541.[50] •Kaplan, Hillard S. and Hill, Kim,1985. Food-Sharing Among Ache Foragers: Tests of Explanatory Hypotheses." Current Anthropology, 26(2), pp. 223-45. •Kaplan, Hillard S. and Robson, Arthur J, 2003. The Evolution of Human Life Expectancy and Intelligence in Hunter-Gatherer Economies. American Economic Review, 93(1), pp. 150-169. •de Waal, Frans. 1997. "The Chimpanzee's Service Economy: Food for Grooming." Evolution and Human Behavior 18(6): 375-86. •Brosnan, Sarah, and Frans de Waal. 2003. Monkeys Reject Unequal Pay. Nature. 425, pp. 297-299. Academic Psychology: •Dolan, R., (2002). Emotion, Cognition, and Behavior, Science, 298, pp. 1191-1194. •Tversky, A. and Kahneman, D., 1986. Rational choice and the framing of decisions. The Journal of Buisness, 59, pp 251-278. •Metcalfe, J. and Mischel, W. "A Hot/Cool-System analysis of Delay of Gratification: Dynamics of Willpower," Psychological Review 106, No. 1 (1999), 3-19. Academic Marketing: •Zaltman, Gerald. 2003. How Customers Think: Essential insights into the mind of the market. Harvard Business School Press, Boston, USA.

Please send me an email with suggestions, corrections, or for inclusion.