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Rationality and emotions: a new issue of the Philosophical Transactions of the Royal Society available

Issue compiled and edited by Alan Kirman, Pierre Livet and Miriam Teschl with chapter contributions from Cambridge Neuroscientists including Aldo Rustichini, Luke Clark, Michelle Baddeley, John Coates and Zoltan Sarnyai.

In most disciplines, rationality and emotions are considered to be distinct although related phenomena. However, economics has insisted on a rather rigid separation between the two. Modern economic theories are characterised by isolated individuals solving their personal optimisation problems. The reasoning that is attributed to them has totally ignored the role of emotions. However, the rise of behavioural economics and the interest in the neuroscientific underpinnings of decision making has forced some economists to reconsider this position. In this issue, specialists from different disciplines such as philosophy, psychology, neuroscience and economics contribute to a more settled and comprehensive view of the interplay between rationality and emotions. This may help shed light on some of the features, such as herding, panic, and loss of confidence, that have characterised the recent economic crisis.

Published January 2010 and freely available online until the 28th February, 2010. Special offer price for print issue: £47.50 (usual price: £59.50)

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Posted on 19/02/2010

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