A framework for studying the neurobiology of value-based decision making
TLDR
A framework to investigate different aspects of the neurobiology of decision making is proposed to bring together recent findings in the field, highlight some of the most important outstanding problems, define a common lexicon that bridges the different disciplines that inform neuroeconomics, and point the way to future applications.Abstract:
Neuroeconomics is the study of the neurobiological and computational basis of value-based decision making. Its goal is to provide a biologically based account of human behaviour that can be applied in both the natural and the social sciences. This Review proposes a framework to investigate different aspects of the neurobiology of decision making. The framework allows us to bring together recent findings in the field, highlight some of the most important outstanding problems, define a common lexicon that bridges the different disciplines that inform neuroeconomics, and point the way to future applications.read more
Citations
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References
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Prospect theory: an analysis of decision under risk
Daniel Kahneman,Amos Tversky +1 more
TL;DR: In this paper, the authors present a critique of expected utility theory as a descriptive model of decision making under risk, and develop an alternative model, called prospect theory, in which value is assigned to gains and losses rather than to final assets and in which probabilities are replaced by decision weights.
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Prospect theory: analysis of decision under risk
Daniel Kahneman,Amos Tversky +1 more
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Advances in prospect theory: cumulative representation of uncertainty
Amos Tversky,Daniel Kahneman +1 more
TL;DR: Cumulative prospect theory as discussed by the authors applies to uncertain as well as to risky prospects with any number of outcomes, and it allows different weighting functions for gains and for losses, and two principles, diminishing sensitivity and loss aversion, are invoked to explain the characteristic curvature of the value function and the weighting function.
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An integrative theory of prefrontal cortex function
Earl K. Miller,Jonathan D. Cohen +1 more
TL;DR: It is proposed that cognitive control stems from the active maintenance of patterns of activity in the prefrontal cortex that represent goals and the means to achieve them, which provide bias signals to other brain structures whose net effect is to guide the flow of activity along neural pathways that establish the proper mappings between inputs, internal states, and outputs needed to perform a given task.
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