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So, what exactly is neuroeconomics? The Society for Neuroeconomics website describes it as a field that "represents the confluence of economics, psychology, and neuroscience in the study of human decision making." But for Antonio Rangel (BS '93), Caltech's Bing professor of neuroscience, behavioral biology and economics and past president of the Society for Neuroeconomics, the aim of the field is much more profound.

"Neuroeconomics is about understanding human nature: Who is it that we are? Why do we do what we do?" he says. "I think it's a dream that we can construct this understanding of human nature that links behavior, computation, and biology at the most fundamental level. It doesn't get more beautiful than that. It's hard, but it's as deep a question about who we are as it gets for me."

Rangel and Colin Camerer—Caltech's Robert Kirby professor of behavioral economics and leadership chair and director of the T&C Chen Center for Social and Decision Neuroscience, who helped launch the field with a fundamental Science paper on ambiguity in 2005—speak about the history of neuroeconomics at Caltech and where the field is headed. Camerer is also a past president of the society.

Camerer: Actually, there was an initial conference back in 1997. We knew several economists who were a little curious about neuroscience, and one of the organizers of that conference knew several psychologists and neuroscientists who were willing to come.

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