Neural correlates of near-misses effect in gambling

The present study investigated the cognitive and neural mechanisms underlying the gambling near-miss effect by measuring event-related-potentials. Using a simple gambling task, we measured behavioral response and electrophysiological activity of gambling outcomes. Self-rating results showed that when compared to full-miss outcome, near-miss outcome were rated as less pleasant, but yielded higher motivation to play. Whereas the feedback-related negativity (FRN) amplitude did not reflect the motivation rating differences between near-miss and full-miss, the P300 amplitude mirrored the motivation rating differences between near-miss and full-miss, with larger amplitudes for near-miss outcomes. Dipole source analysis of the difference wave (near-miss minus full-miss) indicated that two generators of the P300, localized in the putamen and orbitofrontal cortex, might be involved in motivational evaluation and regret, respectively. Our findings indicated that the near-miss effect stems from sources: higher levels of motivation and the presence of regret, caused by counterfactual thinking.