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Updated: Feb 27, 2026

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Measuring the Subjective Value of Risky and Ambiguous Options using Experimental Economics and Functional MRI Methods
Published on: September 19, 2012
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Neural Mechanisms Underlying Risk and Ambiguity Attitudes
Neeltje E Blankenstein1, Jiska S Peper1, Eveline A Crone1
1Leiden University.
Journal of Cognitive Neuroscience
|July 8, 2017
Summary
Individual differences in risk-seeking and ambiguity-seeking attitudes are linked to distinct brain activity patterns. These findings suggest separate neural mechanisms underlie how people process risk versus uncertainty in decision-making.
Area of Science:
- Neuroscience
- Decision Science
- Cognitive Psychology
Background:
- Individual decision-making is influenced by attitudes towards risk (known probabilities) and ambiguity (unknown probabilities).
- The neural underpinnings differentiating the processing of risk and ambiguity at an individual level remain incompletely understood.
Purpose of the Study:
- To investigate whether individual differences in risk and ambiguity attitudes are associated with distinct neural correlates.
- To examine neural activity during choice and outcome phases of processing risky and ambiguous gambles.
Main Methods:
- A neuroimaging task was designed where 50 participants chose between a sure gain and either a risky or ambiguous gamble.
- Individual risk and ambiguity attitudes were quantified using a separate task varying gamble parameters.
- Brain activity was analyzed during decision-making and outcome evaluation.
Main Results:
- Neural overlap was observed between risky and ambiguous gamble processing in decision-making networks.
- Risk-seeking attitudes correlated with increased activation in brain valuation regions (OFC).
- Ambiguity-seeking attitudes correlated with temporal cortex activation; ambiguous gamble outcomes enhanced dorsomedial PFC activity.
Conclusions:
- Distinct neural mechanisms underlie individual differences in risk and ambiguity attitudes.
- Risk and ambiguity may influence overt risk-taking behavior through separate neural pathways.
- Enhanced dorsomedial PFC activation after ambiguous gambles may signal general uncertainty coding.
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