Welcome to the Center for the Study of Neuroeconomics
The Center for the Study of Neuroeconomics (CSN) is a joint venture of GMU''s School of Law, the Department of Economics, the Krasnow Institute for Advanced Study, and the Interdisciplinary Center for Economic Science. The center works closely with the International Foundation for Research in Experimental Economics (IFREE).
The mission of the Center for the Study of Neuroeconomics (CSN) is to design and run experiments, using both experimental economics and the cognitive neurosciences, to better understand the scientific laws that govern economic activity and the economic outcomes that result.
The center takes as given that the scientific laws governing economic activity can be expressed in terms of decentralized computational laws. For example, exchange between two embodied brains takes place through economic institutions. We can think of exchange as a decentralized algorithm for agreeing on the terms of exchange and then fulfilling these terms. Some of the computations performed occur inside the embodied brain while other computations occur within the institution that coordinates and governs how embodied brains interact. The result of this algorithm is either a successful exchange or an unsuccessful exchange.
Our approach is truly interdisciplinary in that we involve researchers across different fields in every aspect of our research program. The heart of our approach is the methodology of experimental economics pioneered by Vernon Smith. We are building on the program of experimental economics by adding virtual worlds and fMRI studies as well as importing more traditional methods of cognitive psychology into our projects.