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Neural basis of decision making (neuroeconomics: an overview from an…
Neural basis of decision making
neuroeconomics: an overview from an economic perspective
neuroscientific methods
electromagnetic vs hemodynamic
brain normalization due to high variability
causa vs correlational
economics
circular reasoning
neuroeconomics
preferences (favorite brand
elicits distinct activation)
VMPFC, decreased DLPFC
utility = reward system activation?
Damage OFC: extreme risk seeking, thus, OFC activates for unexpected rewards
NAc: activates for monetary reward
VS; OFC-amygdala-NAcc circuit
social brain - fairness
UG
insula; DLPFC
altruistic punishment
DS: anticipated satisfaction from punishing defectors
learning
reward prediction error
neuroeconomics: cross-currents in research on decision-making
economics view
general reasoning system
unified theory:
benchmark
of optimal performance
consistent, stable preferences
neural bases
value & reward
neural response scales with rewad magnitude
ACC
negative utility (errors, negative fedback, response conflicts
behavioral economics: we evaluate the outcome of a decision based on a flexible reference point
brain areas code for relative gains and losses than to absolute reward
utlility
neural bases activate progressively as the utility of rewards increase (LIP)
neuroscience perspective
challenges the unitary evaluative system
specialized subsystems
competition
emotion vs deliberation
Limbic System (VTA) and
midbrain and frontal areas
(NAcc, VMPFC, OFC, ACC)PFC
UG
hyperbolic time discounting: emotional mechanism steeply discounts; deliberative mechanism more consistently discounts
hyperbolic time discounting & loss aversion as evidence
studies
LPFC and self-control in intertemporal choice
difference between left vs sham and right for now trials
LPFC: self-control
left LPFC disruption increases
choices for immediate rewards over
larger delayed rewards
numbers represent the percentage of sooner-smaller/later-larger combinations for actual choices vs preferences derived from valuations. the left TMS group exhibited an increased mumber of impulsive behavior, whereas they did not value the sooner smaller reward as higher than the not-chosne later-larger reward
separate neural systems value immediate and delayed rewards
beta (limbic) activation high if immeidate reward is preferred
delta (LPFC) activation high if delayed reward is preferred