Physioeconomics

rdf:langString Physioeconomics

rdf:langString Physioeconomics (or physio-economics) is an extension of experimental economics research that collects physiological parameters in addition to recording behavior. These measures can include skin conductance, blood pressure and the pulse of the subject. Experiments typically present subjects with economic decisions in a game–like context. The term has also been used by Philip M. Parker in his book Physioeconomics to refer to his theory of the physiological basis of economics, according to which the equatorial paradox (that countries further from the equator have higher GDP per capita) is explained by the pressure on humans located in cold climates to restore their physiological homeostasis, for example by agriculture and wealth-creation. The field of physioeconomics is interdisciplinary, drawing on concepts and methods from economics, physiology, psychology, and other disciplines. Its goal is to understand how the human body and mind respond to economic stimuli, and how these responses affect economic behavior. Physioeconomics has been used to study a wide range of topics, including consumer behavior, financial decision-making, work productivity, and stress. The field has also been applied to policy issues such as the design of work environments and the provision of health care. A number of different research methods are used in physioeconomics, including laboratory experiments, field studies, and surveys. The insights gained from physioeconomic research can be used to improve the well-being of individuals and society as a whole.