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Updated: Jun 22, 2026

Measuring the Subjective Value of Risky and Ambiguous Options using Experimental Economics and Functional MRI Methods
Published on: September 19, 2012
Risky business: disambiguating ambiguity-related responses in the brain
Martin O'Neill1, Shunsuke Kobayashi
1Department of Physiology, Development and Neuroscience, University of Cambridge, Cambridge, CB2 3DY, United Kingdom. mo203@cam.ac.uk
Abstract:
Previous functional MRI studies reported neural correlates of risk and ambiguity based on behavioral economic theories. A recent study controlled for uncertainty by adding noise to information of an impending aversive event and demonstrated brain areas that did not track the degree of uncertainty: the activation peaked when the degraded information could be restored by cognitive efforts. In this review, we discuss how the variables defined in economics and cognitive psychology frameworks can be dissociated.
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