The paper provides a neurophilosophical assessment of a controversy between two neuroeconomic models that compete to identify the putative object of neural utility: goods or actions. We raise two objections to the common view that sees the ‘good-based’ model prevailing over the ‘action-based’ model. First, we suggest extending neuroeconomic model discrimination to all of the models’ neurophilosophical assumptions, showing that action-based assumptions are necessary to explain real-world value-based decisions. Second, we show that the good-based model’s presumption of introducing a normative (...) neural definition of economic choice would arbitrarily restrict the domain of economic choice and consequently of economics. (shrink)

When economists perform experiments, they do so typically in one of two traditions: cognitive psychology experiments in the heuristics and biases tradition (H&B-experiments) and experimental economics in the tradition of Vernon Smith. What sets these two traditions apart? In this paper, I offer a novel conceptualization of their pervasive disagreements. Focusing on how each camp approaches preferences, one of the most fundamental concepts in economics, I argue that experimental economics can be reconstructed as holding that the constituents of preferences can (...) be partially located in agents’ environments, while H&B-experiments implicitly assume that the constituents of preferences are entirely located within agents’ bodies. The paper (i) outlines how my reconstruction can account for the disagreement between the two paradigms, (ii) defends the plausibility of this reconstruction, and (iii) highlights its implications for the debate about the nature of preferences in economics. (shrink)