TB4 Lecture 4; Decision making and the brain

The main objectives in this lecture are;

  • Expected value v.s expected utility
  • Reward and the brain
  • Temporal discounting
  • Social decision making
  • Heuristics in decision making
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  • Created by: mint75
  • Created on: 25-05-15 17:59

1. In a study where a reward was either what was expected or more/less than expected, what was found?

  • When reward was more than expected, there was less DP activation and vice versa in the pFC
  • When reward was more than expected, there was less DP activation and vice versa in the ventral tegmental area
  • When reward was more than expected, there was more DP activation and vice versa in the ventral tegmental area
  • When reward was more than expected, there was more DP activation and vice versa in the pFC
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Other questions in this quiz

2. What are the two distinct neural processes in McClure et als (2004) dual-system model

  • 1) Fast, automatic and context dependent; an emotion based decision 2) slower, controlled and evidence based; a deliberation decision
  • 1) Slower, automatic and context dependent; an emotion based decision 2) Faster, controlled and evidence based; a deliberation decision
  • 1) Fast, automatic and context dependent; a deliberation based decision 2) slower, controlled and evidence based; an emotion based decision

3. Which areas seem to be implicated in immediate smaller-sooner (SS) rewards?

  • DLpFC, LOBFC, VStr
  • Posterior cingulate (PCC), mPFC, VStr
  • Putamen, mPFC, VStr
  • DLpFC, LOBFC

4. What is the status quo bias?

  • Preference for current state of affairs
  • Presentation of another option that is inferior in all respects has shown to influence preference

5. What two concepts were added to expected utility by prospect theory?

  • Reference dependence (making decisions in terms of anticipated gains/loss compared to current state), probability weighting (probability is perceived highly subjectively, underestimating the chance of high prob. events)
  • Reference dependence (probability is perceived highly subjectively, underestimating the chance of high prob. events), probability weighting (making decisions in terms of anticipated gains/loss compared to current state)
  • Over/underestimation (of high and low probability events) and loss aversion
  • Loss aversion and diminishing marginal effect

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