how can neuroeconomics inform economics

Neuroeconomics is a field of research that combines neuroscience with economics to better understand and explain economic decision-making and behavior. Neuroeconomics investigates how the brain processes economic information and influences decision-making, assigns value to goods and services, and evaluates risk versus reward. It applies concepts from neuroscience, such as neuroimaging, neurochemicals, and cognitive neuroscience to economics to provide a more comprehensive understanding of economic decision-making. By leveraging insights from neuroscience, neuroeconomics can inform economics by providing valuable insights into the inner workings of decision-making and the motivations behind it. Neuroeconomics also provides valuable information about how to design incentives and motivate people to make economically-optimal decisions, as well as how to better benefit society as a whole. Finally, neuroeconomics can be used to design policies that limit the impact of irrational decisions and better inform public policy.