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Journal ArticleDOI

The Involvement of the Orbitofrontal Cortex in the Experience of Regret

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TLDR
In this article, the authors characterized a subject's choices in terms of their anticipated and actual emotional impact, and found that normal subjects reported emotional responses consistent with counterfactual thinking; they chose to minimize future regret and learned from their emotional experience.
Abstract
Facing the consequence of a decision we made can trigger emotions like satisfaction, relief, or regret, which reflect our assessment of what was gained as compared to what would have been gained by making a different decision. These emotions are mediated by a cognitive process known as counterfactual thinking. By manipulating a simple gambling task, we characterized a subject's choices in terms of their anticipated and actual emotional impact. Normal subjects reported emotional responses consistent with counterfactual thinking; they chose to minimize future regret and learned from their emotional experience. Patients with orbitofrontal cortical lesions, however, did not report regret or anticipate negative consequences of their choices. The orbitofrontal cortex has a fundamental role in mediating the experience of regret.

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Citations
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Meeting of minds: the medial frontal cortex and social cognition.

TL;DR: This work reviews the emerging literature that relates social cognition to the medial frontal cortex and proposes a theoretical model of medial frontal cortical function relevant to different aspects of social cognitive processing.
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The Social Brain: Neural Basis of Social Knowledge

TL;DR: A broad survey of the key abilities, processes, and ways in which to relate these to data from cognitive neuroscience is provided.
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The Experience of Emotion

TL;DR: This chapter outlines an emerging scientific agenda for understanding what experiences of emotion feel like and how they arise, and the role of such experiences in the economy of the mind and behavior.
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Distributed neural representation of expected value.

TL;DR: Findings suggest that mesolimbic brain regions support the computation of EV in an ascending and distributed manner: whereas subcortical regions represent an affective component, cortical regions also represent a probabilistic component, and, furthermore, may integrate the two.
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The somatic marker hypothesis: a critical evaluation

TL;DR: The current article reviews the IGT findings, arguing that their interpretation is undermined by the cognitive penetrability of the reward/punishment schedule, ambiguity surrounding interpretation of the psychophysiological data, and a shortage of causal evidence linking peripheral feedback to IGT performance.
References
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Journal ArticleDOI

Insensitivity to future consequences following damage to human prefrontal cortex

TL;DR: Using a novel task which simulates real-life decision-making in the way it factors uncertainty of premises and outcomes, as well as reward and punishment, it is found that prefrontal patients are oblivious to the future consequences of their actions, and seem to be guided by immediate prospects only.
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Regret Theory: An Alternative Theory of Rational Choice Under Uncertainty

TL;DR: The main body of current economic analysis of choice under uncertainty is built upon a small number of basic axioms, formulated in slightly different ways by von Neumann and Morgenstern (I 947), Savage (1 954), and others.
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Emotion, Decision Making and the Orbitofrontal Cortex

TL;DR: The somatic marker hypothesis provides a systems-level neuroanatomical and cognitive framework for decisionMaking and the influence on it by emotion and the relationship between emotion, decision making and other cognitive functions of the frontal lobe, namely working memory is reviewed.
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Norm theory: Comparing reality to its alternatives

TL;DR: In this article, a theory of norms and normality is presented and applied to some phenomena of emotional responses, social judgment, and conversations about causes, such as emotional response to events that have abnormal causes, the generation of predictions and inferences from observations of behavior and the role of norms in causal questions and answers.
Journal ArticleDOI

Regret in Decision Making under Uncertainty

David E. Bell
- 01 Oct 1982 - 
TL;DR: By explicitly incorporating regret, expected utility theory not only becomes a better descriptive predictor but also may become a more convincing guide for prescribing behavior to decision makers.
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