Neuro-Economics and Nobel in Economics et al

Economists have long understood that humans never actually behave accordingly to quantitative equations. Here is the reinforcement of Professor Galbraith's line of reasoning of non-mathematical approach. Professor Paul Glimche has studied individual neurons to try to unravel the secret of how people calculate expected utility, or the satisfaction that they believe a particular outcome will deliver. My comment: Individual varying preferences plus custom,tradition as lifestyle of the folks should be taken into consideration. Neuro-economics is a combination of psychology and economics. Labor economics is an area where behavioral economics is going to be significant. "Keys for Economic Understanding" deals with labor motivation via training of marketable skills as exemplary case studies. Such work is listed at www.ask.com for reference. On page A21, January 14, 2008 Washington Post Sabastian Mallaby wrote the following with comments:
"Last year's Nobel Prize in economics,which went to three founders of a field known as mechanism design theory. Mechanism designers study the rules by which people with varying preferences can reconcile their interests. The first step is often to induce people to revel preferences fully, so that a compromise that is best for everyone can be arrived at. Eric Maskini, one of last year's Nobel Laureates for mechanism design, will suggest how a better system could do that in a lecture at Georgetown University. Maskin's argument is that voters should list candidates in order of preferences so we would not have to guess whether Clinton would have beaten Obama in a two-person contest.Instead of this common-sensical system, we have a farce: On the basis of a three-point margin over Obama that tells us little about which of the two candidates voters actually preferred, Clinton has transformed her prospects. Maskin and other election theorists have explained this absurdity for years. Surely the recognition of the Nobel Prize should now persuade the world to listen. My comment: The readers are entitled to make comments as well. Francis Shieh on January 15, 2008