Some Paradoxical Issues in Neuromanagement of Decision - Making

SOME PARADOXICAL ISSUES IN NEUROMANAGEMENT OF DECISION - MAKING
By

Jyotirmaya S.
D. Litt. Candidate

DEPARTMENT OF ECONOMICS, BERHAMPUR UNIVERSITY, INDIA
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PROLOGUE
New brain imaging technologies have motivated neuromanagement studies of the internal order of the mind and its links with the spectrum of human decisions from choice among fixed gambles to choice mediated by market and other institutional rules. We are only at the beginning of the enterprise, but its promise suggests a fundamental change in how we think, observe and model decision in all its contexts. …….. Vernon Smith Nobel Laureate (Managements, 2002)
Everyday life is full of decisions and choices. An important question for many researchers is how people make (management) decisions. Specifically, researchers are interested in the assumptions, beliefs, habits, and tactics that people use to make everyday decisions. Research suggests that the brain considers various sources of information before making a decision. However, how does it do this? In addition, why does the process sometimes go awry, causing us to make impulsive, indecisive, and confused decisions; the kinds that can lead to risky and potentially dangerous behaviours? Human behaviour is not the product of a single process, but rather reflects the interaction of different specialized subsystems. These systems, the idea goes, usually interact seamlessly to determine behaviour, but at times, they compete. Result is that brain sometimes argues with itself, as these distinct systems come to different conclusions about what we should do. Human behaviour, in general, is not under constant and detailed control of careful and accurate hedonic calculations, but is product of an unstable and irrational complex of reflex actions,

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