Formula For an Improved Paragraph

ORIGINAL PARAGRAPH:
Prior to McCabe’s research, economics was applied to law in broad, equivocal terms, assuming that humans always follow their rational self-interest, and relying on the price theory to describe the nature of human behavior and decision making. With the advance in technology, and McCabe’s insight, clearer explanations have arisen to describe how neuroeconomics can apply to decision-making situations. For example, in the trust game, neoclassical economic theorists believe that individuals act rationally, and behavioral economic theorists believe that do not exhibit rational utility maximizing behavior. McCabe set out to formulate a biological model to determine if either theory was accurate in its assumptions.

REVISED PARAGRAPH:
Statement of main idea- With the advance in technology, and McCabe’s insight, clearer explanations have arisen to describe how neuroeconomics can apply to decision-making situations.

Explanation of main idea- Prior to McCabe’s research, economics was applied to law in broad, equivocal terms, assuming that humans always follow their rational self-interest, and relying on the price theory, or how relative prices are determined and how prices function to coordinate economic activity, to describe the nature of human behavior and decision making.

Example- For example, in the trust game, neoclassical economic theorists believe that individuals act rationally, and behavioral economic theorists believe that do not exhibit rational utility maximizing behavior. McCabe on the other hand, uses a biological model to explain differences in behavior based on social setting.

Explanation of example- McCabe’s research concerning this topic through the use of hyperscanning, or the ability to image two or more brains as they interact concurrently, showed that there was striking ambiguity between neo-classical and behavioral economic theory. He found that discrepancies arose is Brodmann’s area, an area of the brain, which is used most often during visualization and social situations. People who co-operated during the trust game had more activity in this region than non co-operations did. This has allowed researchers to note how individuals react to particular stimuli, and implies that the use of brain mechanisms plays more of an important role in determining an individual’s reliance on empirical theories to make their decisions. He concluded that his biological model took into account that individuals take into account their social setting and interaction when making economic decisions, which differed from the beliefs of prior theorists.

Conclusion/Transition- The activity seen in Brodmann’s area during the trust game is similar to its activity during the trust game as well.

New paragraph together:
With the advance in technology, and McCabe’s insight, clearer explanations have arisen to describe how neuroeconomics can apply to decision-making situations. Prior to McCabe’s research, economics was applied to law in broad, equivocal terms, assuming that humans always follow their rational self-interest, and relying on the price theory, or how relative prices are determined and how prices function to coordinate economic activity, to describe the nature of human behavior and decision making. For example, in the trust game, neoclassical economic theorists believe that individuals act rationally, and behavioral economic theorists believe that do not exhibit rational utility maximizing behavior. McCabe on the other hand, uses a biological model to explain differences in behavior based on social setting. McCabe’s research concerning this topic through the use of hyperscanning, or the ability to image two or more brains as they interact concurrently, showed that there was striking ambiguity between neo-classical and behavioral economic theory. He found that discrepancies arose is Brodmann’s area, an area of the brain, which is used most often during visualization and social situations. People who co-operated during the trust game had more activity in this region than non co-operations did. This has allowed researchers to note how individuals react to particular stimuli, and implies that the use of brain mechanisms plays more of an important role in determining an individual’s reliance on empirical theories to make their decisions. He concluded that his biological model took into account that individuals take into account their social setting and interaction when making economic decisions, which differed from the beliefs of prior theorists. The activity seen in Brodmann’s area during the trust game is similar to its activity during the trust game as well.