Cognitive Modeling in Neuroeconomics

In this chapter, we discuss two lines of research in neuroeconomics. The first line of research focuses on the role of visual attention in value-based decision-making. In particular, it formalizes the cognitive processes behind eye movements and choices on the basis of the well-established computational modeling framework of sequential sampling models. The second line of research also reverts to this framework and combines it with that of reinforcement learning models to ask how feedback in the form of rewards and punishments changes the dynamics of decisions. Finally, we discuss existing attempts and future avenues to connect the work on attention and reinforcement learning in neuroeconomics to arrive at a comprehensive computational theory of economic decision-making.