On April 25, 2020, UNEC Center for Cognitive Economics together with the Section of Coordination and Organization of Research Centers organized an online seminar, which was held on the topic “Examination of decision-making mechanisms based on cognitive models” by the Deputy Head of the UNEC Center for Cognitive Economics, the Senior Lab Manager at the Human Behavior Lab of Texas A&M University Samir Huseynov.
At first, associate professor Mansur Barkhudarov, the Director of the UNEC Russian School of Economics and head of the UNEC Center for Cognitive Economics, introduced Mr. Samir to the academic-teaching staff and then gave him the floor.
After giving a brief overview of the development of the cognitive economy, Mr. Samir explained how modern biometric devices and new neurophysiological measurements have fundamentally changed approaches to decision-making.
These changes are evident in a variety of fields and can be applied to fundamental scientific issues such as the formation of the value of goods, as well as in application areas, such as marketing.
He also noted that the increasing availability of neurophysiological measurements has created new opportunities for the economy; biometric device can identify (collect information about) such factors as brain activity, emotions and eye movements during the decision-making process. This new information provides an opportunity to review existing economic concepts, simulate decision-making processes, and finally turn a cognitive economy into a fast-growing industry.
The discussion aroused great interest among teachers and they asked relevant questions.
It should be noted that Samir Huseynov is a UNEC graduate.
In 2004 he entered the faculty of “International Economic Relations” at Azerbaijan State University of Economics (UNEC). Later he got a master’s degree from Central European University and he is currently continuing his education at Texas A&M University.