Work

On the rationale for hysteresis in economic decisions

Year: 2017

Type: conference-paper

Abstract: In the social sciences there are plausible reasons to postulate that hysteresis effects are important. The available evidence, however, is predominantly at the macro level. In this paper we review the evidence regarding hysteresis in the neural processes underlying human behavior. We argue that there is a need for experimental and neuroimaging studies to fill the gap in knowledge about hysteresis processes at the micro level in the social sciences.

Source: Journal of Physics Conference Series

DOI: 10.1088/1742-6596/811/1/012012

Authors: Luis A Rios, Dmitrii Rachinskii, Rod Cross

Institutions: University of Pennsylvania, The University of Texas at Dallas, University of Strathclyde

Language: English

Topic: Decision-Making and Behavioral Economics

Subfield: General Decision Sciences

Field: Decision Sciences

Domain: Social Sciences

Open Access status: diamond

Funder: National Science Foundation

Award: Stabilization of Periodic Regimes in Symmetric Systems with Memory via Time-Delayed Feedback Control