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 inNeuropsychologia Vol. 79; no. Pt A; pp. 70 - 75
Main Authors Pujara, Maia S., Wolf, Richard C., Baskaya, Mustafa K., Koenigs, Michael
Format Journal Article
LanguageEnglish
Published England Elsevier Ltd 01.12.2015
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ISSN0028-3932
1873-3514
1873-3514
DOI10.1016/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.
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
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Keywords Decision-making
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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
URI https://dx.doi.org/10.1016/j.neuropsychologia.2015.10.026
https://www.ncbi.nlm.nih.gov/pubmed/26597003
https://www.proquest.com/docview/1750013379
https://pubmed.ncbi.nlm.nih.gov/PMC4679627
Volume 79
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