Brain science has enormous potential to inform business. Decision-making lies at the heart of any business endeavor. We now know the basic architecture of the decision process in the human brain: from identification of choice options and calculations of their utility, to selecting one for consumption and learning from this experience. We are also beginning to understand how fundamental economic principles like risk, ambiguity, and volatility shape these processes, and why these factors seem to influence different people in different ways and in different choice contexts. Neuroscience provides a powerful tool for understanding the reasons that people make the choices they do: the role of sensory information, emotional responses, and the influence of others. Indeed, we now stand poised to predict more successful business and policy strategies by looking at the underlying, more private, neural responses.
Meet the Director
“…the new science of neuroeconomics has begun to provide some compelling answers about how the human brain makes decisions.” –Michael Platt