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Orbitofrontal Cortex: A Neural Circuit for Economic Decisions.

Camillo Padoa-Schioppa1, Katherine E Conen2

  • 1Department of Neuroscience, Washington University in St. Louis, St. Louis, MO 63110, USA; Department of Economics, Washington University in St. Louis, St. Louis, MO 63110, USA; Department of Biomedical Engineering, Washington University in St. Louis, St. Louis, MO 63110, USA.

Neuron
|November 18, 2017
PubMed
Summary
This summary is machine-generated.

Neuroeconomics reveals subjective values are neurally encoded. This review suggests the orbitofrontal cortex (OFC) neural circuits generate goal-based economic decisions by comparing these values.

Keywords:
attentional drift-diffusion modeldecision neurosciencedistributed-consensus modeleconomic choicegoal-directed behaviorgood-based modelneuroeconomicsprefrontal cortexsubjective valuevalue-based decision

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Area of Science:

  • Neuroeconomics
  • Decision Neuroscience
  • Cognitive Neuroscience

Background:

  • Economic choice involves computing and comparing subjective values.
  • Neuroeconomics has established neuronal representation of subjective values.
  • A key question is how the brain compares values to make decisions.

Purpose of the Study:

  • To review evidence suggesting the orbitofrontal cortex (OFC) generates value-based economic decisions.
  • To explore the neural mechanisms underlying value comparison and decision-making.
  • To contrast the OFC-centric model with alternative theories.

Main Methods:

  • Review of experimental and theoretical results from neuroeconomics and related fields.
  • Analysis of evidence from OFC lesions, neuronal recordings, and computational modeling.
  • Comparison of the proposed OFC model with other leading decision-making models.

Main Results:

  • Goal-directed behavior is impaired by OFC lesions.
  • Distinct neuronal populations in the OFC encode decision inputs and outputs.
  • Activity in OFC neurons correlates with choice variability and is computationally sufficient for decisions.
  • Value signals in the OFC influence various mental functions.

Conclusions:

  • The orbitofrontal cortex (OFC) hosts a neural circuit crucial for value-based economic decision-making.
  • Evidence supports the OFC's role in comparing subjective values and generating choices.
  • Further research is needed to fully elucidate the neural mechanisms of economic decisions.