In this episode of The Deep Dive the host explores neuroeconomics through vivid case studies—last‑second online auction sniping versus face‑to‑face haggling—tracing how brain systems compute subjective value in real time.

Topics include the VMPFC as a neural common currency, dopamine reward‑prediction errors and reinforcement learning (Wolfram Schultz), range adaptation and reference dependence in OFC, prospect‑theory‑style risk and probability weighting (including work by Levy & Glimcher, Clithero & Rangel, Imazumi et al.), and accumulation‑to‑bound decision models that translate value into action.

Key takeaways: value is dynamic and context‑dependent, loss aversion and social cues shape choices, and a practical personal “value sketch” exercise helps listeners spot their own biases and make better decisions.