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Iris Ikink1, Jan B Engelmann2, Wouter van den Bos3

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Area of Science:

  • Neuroscience
  • Decision Science
  • Behavioral Economics

Background:

  • Intertemporal choices involve immediate versus future consequences.
  • Real-life decisions often feature ambiguity in reward timing.
  • The impact of time-ambiguity on choices and neural mechanisms is largely unknown.

Purpose of the Study:

  • To investigate the influence of time-ambiguity on intertemporal choices.
  • To identify the neural correlates associated with time-ambiguity during decision-making.
  • To differentiate time-ambiguity aversion from delay discounting (impatience).

Main Methods:

  • Developed a novel functional magnetic resonance imaging (fMRI) task with varying levels of time-ambiguity for monetary rewards.
  • Participants chose between sooner-smaller (SS) and later-larger (LL) rewards with exact, low, or high delay ambiguity.
  • Analyzed choice behavior, brain activation (ventromedial prefrontal cortex, intraparietal sulcus, insula, dorsolateral prefrontal cortex), and computational models.

Main Results:

  • Majority of participants exhibited time-ambiguity aversion, preferring exact over ambiguous delays.
  • Decreased activation in the ventromedial prefrontal cortex and increased activation in the intraparietal sulcus were observed during ambiguous trials.
  • Time-ambiguity aversion correlated with increased insula and dorsolateral prefrontal cortex activation during subjective value coding.

Conclusions:

  • Time-ambiguity aversion represents a distinct behavioral and neural phenomenon separate from impatience.
  • Ambiguity influences subjective value through altered time perception or an additive penalty.
  • Understanding time-ambiguity is crucial, as it is ubiquitous and contributes to shortsighted decisions.