Ventromedial prefrontal cortex damage alters relative risk tolerance for prospective gains and losses
One paradigmatic example of “irrational” bias in human economic decision-making—known as the “reflection effect”—is a tendency to prefer sure amounts over risky gambles in situations involving potential gain, but to prefer risky gambles over sure amounts in situations involving potential loss. To da...
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Published in | Neuropsychologia Vol. 79; no. Pt A; pp. 70 - 75 |
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Main Authors | , , , |
Format | Journal Article |
Language | English |
Published |
England
Elsevier Ltd
01.12.2015
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Subjects | |
Online Access | Get full text |
ISSN | 0028-3932 1873-3514 1873-3514 |
DOI | 10.1016/j.neuropsychologia.2015.10.026 |
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Abstract | One paradigmatic example of “irrational” bias in human economic decision-making—known as the “reflection effect”—is a tendency to prefer sure amounts over risky gambles in situations involving potential gain, but to prefer risky gambles over sure amounts in situations involving potential loss. To date, there is no causal evidence regarding the neural basis of the reflection effect. The ventromedial prefrontal cortex (vmPFC) is believed to play a critical role in mediating value-based decision-making. In this study, we administered a behavioral test of the reflection effect to three groups of subjects: neurosurgical patients with focal bilateral vmPFC lesions, neurosurgical patients with lesions outside vmPFC, and neurologically healthy adults. Subjects made a series of choices between a sure amount (e.g., gain of $50) and a gamble (e.g., 50% chance of gaining $100, 50% chance of gaining $0). Half the trials featured potential gains while the other half featured potential losses. The sure amounts varied across trials. Relative to the two comparison groups, the vmPFC lesion patients exhibited a significantly greater reflection effect; more gambles selected in the loss condition and fewer gambles selected in the gain condition. This finding demonstrates a critical role for vmPFC in governing susceptibility to bias in decision-making.
•Reflection effect is a classic example of irrational bias in human decision-making.•Choice between sure amounts and risky gambles; gain and loss conditions.•vmPFC Lesion patients exhibited a greater reflection effect than normal subjects.•Less likely to gamble in gain conditions, more likely to gamble in loss conditions. |
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AbstractList | One paradigmatic example of "irrational" bias in human economic decision-making-known as the "reflection effect"-is a tendency to prefer sure amounts over risky gambles in situations involving potential gain, but to prefer risky gambles over sure amounts in situations involving potential loss. To date, there is no causal evidence regarding the neural basis of the reflection effect. The ventromedial prefrontal cortex (vmPFC) is believed to play a critical role in mediating value-based decision-making. In this study, we administered a behavioral test of the reflection effect to three groups of subjects: neurosurgical patients with focal bilateral vmPFC lesions, neurosurgical patients with lesions outside vmPFC, and neurologically healthy adults. Subjects made a series of choices between a sure amount (e.g., gain of $50) and a gamble (e.g., 50% chance of gaining $100, 50% chance of gaining $0). Half the trials featured potential gains while the other half featured potential losses. The sure amounts varied across trials. Relative to the two comparison groups, the vmPFC lesion patients exhibited a significantly greater reflection effect; more gambles selected in the loss condition and fewer gambles selected in the gain condition. This finding demonstrates a critical role for vmPFC in governing susceptibility to bias in decision-making. One paradigmatic example of "irrational" bias in human economic decision-making-known as the "reflection effect"-is a tendency to prefer sure amounts over risky gambles in situations involving potential gain, but to prefer risky gambles over sure amounts in situations involving potential loss. To date, there is no causal evidence regarding the neural basis of the reflection effect. The ventromedial prefrontal cortex (vmPFC) is believed to play a critical role in mediating value-based decision-making. In this study, we administered a behavioral test of the reflection effect to three groups of subjects: neurosurgical patients with focal bilateral vmPFC lesions, neurosurgical patients with lesions outside vmPFC, and neurologically healthy adults. Subjects made a series of choices between a sure amount (e.g., gain of $50) and a gamble (e.g., 50% chance of gaining $100, 50% chance of gaining $0). Half the trials featured potential gains while the other half featured potential losses. The sure amounts varied across trials. Relative to the two comparison groups, the vmPFC lesion patients exhibited a significantly greater reflection effect; more gambles selected in the loss condition and fewer gambles selected in the gain condition. This finding demonstrates a critical role for vmPFC in governing susceptibility to bias in decision-making.One paradigmatic example of "irrational" bias in human economic decision-making-known as the "reflection effect"-is a tendency to prefer sure amounts over risky gambles in situations involving potential gain, but to prefer risky gambles over sure amounts in situations involving potential loss. To date, there is no causal evidence regarding the neural basis of the reflection effect. The ventromedial prefrontal cortex (vmPFC) is believed to play a critical role in mediating value-based decision-making. In this study, we administered a behavioral test of the reflection effect to three groups of subjects: neurosurgical patients with focal bilateral vmPFC lesions, neurosurgical patients with lesions outside vmPFC, and neurologically healthy adults. Subjects made a series of choices between a sure amount (e.g., gain of $50) and a gamble (e.g., 50% chance of gaining $100, 50% chance of gaining $0). Half the trials featured potential gains while the other half featured potential losses. The sure amounts varied across trials. Relative to the two comparison groups, the vmPFC lesion patients exhibited a significantly greater reflection effect; more gambles selected in the loss condition and fewer gambles selected in the gain condition. This finding demonstrates a critical role for vmPFC in governing susceptibility to bias in decision-making. One paradigmatic example of “irrational” bias in human economic decision-making—known as the “reflection effect”—is a tendency to prefer sure amounts over risky gambles in situations involving potential gain, but to prefer risky gambles over sure amounts in situations involving potential loss. To date, there is no causal evidence regarding the neural basis of the reflection effect. The ventromedial prefrontal cortex (vmPFC) is believed to play a critical role in mediating value-based decision-making. In this study, we administered a behavioral test of the reflection effect to three groups of subjects: neurosurgical patients with focal bilateral vmPFC lesions, neurosurgical patients with lesions outside vmPFC, and neurologically healthy adults. Subjects made a series of choices between a sure amount (e.g., gain of $50) and a gamble (e.g., 50% chance of gaining $100, 50% chance of gaining $0). Half the trials featured potential gains while the other half featured potential losses. The sure amounts varied across trials. Relative to the two comparison groups, the vmPFC lesion patients exhibited a significantly greater reflection effect; more gambles selected in the loss condition and fewer gambles selected in the gain condition. This finding demonstrates a critical role for vmPFC in governing susceptibility to bias in decision-making. •Reflection effect is a classic example of irrational bias in human decision-making.•Choice between sure amounts and risky gambles; gain and loss conditions.•vmPFC Lesion patients exhibited a greater reflection effect than normal subjects.•Less likely to gamble in gain conditions, more likely to gamble in loss conditions. |
Author | Wolf, Richard C. Baskaya, Mustafa K. Pujara, Maia S. Koenigs, Michael |
AuthorAffiliation | 2 Neuroscience Training Program, University of Wisconsin-Madison, 1300 University Ave., Madison, Wisconsin, 53706, USA 3 Department of Neurological Surgery, University of Wisconsin-Madison, 600 Highland Ave., Madison, Wisconsin, 53792, USA 1 Department of Psychiatry, University of Wisconsin-Madison, 6001 Research Park Blvd., Madison, Wisconsin, 53719, USA |
AuthorAffiliation_xml | – name: 3 Department of Neurological Surgery, University of Wisconsin-Madison, 600 Highland Ave., Madison, Wisconsin, 53792, USA – name: 2 Neuroscience Training Program, University of Wisconsin-Madison, 1300 University Ave., Madison, Wisconsin, 53706, USA – name: 1 Department of Psychiatry, University of Wisconsin-Madison, 6001 Research Park Blvd., Madison, Wisconsin, 53719, USA |
Author_xml | – sequence: 1 givenname: Maia S. surname: Pujara fullname: Pujara, Maia S. organization: Department of Psychiatry, University of Wisconsin-Madison, 6001 Research Park Boulevard, Madison, WI 53719, USA – sequence: 2 givenname: Richard C. surname: Wolf fullname: Wolf, Richard C. organization: Department of Psychiatry, University of Wisconsin-Madison, 6001 Research Park Boulevard, Madison, WI 53719, USA – sequence: 3 givenname: Mustafa K. surname: Baskaya fullname: Baskaya, Mustafa K. organization: Department of Neurological Surgery, University of Wisconsin-Madison, 600 Highland Avenue, Madison, WI 53792, USA – sequence: 4 givenname: Michael surname: Koenigs fullname: Koenigs, Michael email: mrkoenigs@wisc.edu organization: Department of Psychiatry, University of Wisconsin-Madison, 6001 Research Park Boulevard, Madison, WI 53719, USA |
BackLink | https://www.ncbi.nlm.nih.gov/pubmed/26597003$$D View this record in MEDLINE/PubMed |
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Snippet | One paradigmatic example of “irrational” bias in human economic decision-making—known as the “reflection effect”—is a tendency to prefer sure amounts over... One paradigmatic example of "irrational" bias in human economic decision-making-known as the "reflection effect"-is a tendency to prefer sure amounts over... One paradigmatic example of "irrational" bias in human economic decision-making—known as the “reflection effect”—is a tendency to prefer sure amounts over... |
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SubjectTerms | Aged Brain Injuries - complications Brain Injuries - pathology Brain Injuries - psychology Cognition Disorders - diagnosis Cognition Disorders - etiology Decision Making - physiology Decision-making Female Games, Experimental Humans Lesion Male Middle Aged Neuroeconomics Neuropsychological Tests Prefrontal cortex Prefrontal Cortex - physiopathology Prospective Studies Reaction Time - physiology Risk-Taking Statistics, Nonparametric |
Title | Ventromedial prefrontal cortex damage alters relative risk tolerance for prospective gains and losses |
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