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Investigating Pain-Related Avoidance Behavior using a Robotic Arm-Reaching Paradigm
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Loss Aversion Correlates With the Propensity to Deploy Model-Based Control.

Alec Solway1, Terry Lohrenz1, P Read Montague1,2,3

  • 1Virginia Tech Carilion Research Institute, Roanoke, VA, United States.

Frontiers in Neuroscience
|September 27, 2019
PubMed
Summary
This summary is machine-generated.

Loss aversion, how much individuals weigh losses over gains, showed a positive relationship with model-based control in decision-making. This finding contrasts with previous research on habit versus planning systems.

Keywords:
loss aversionmodel-basedneuroeconomicsplanningreinforcement learningsubjective utility

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Area of Science:

  • Cognitive Neuroscience
  • Behavioral Economics
  • Computational Psychiatry

Background:

  • Decision-making involves habit (stimulus-response) and planning (model-based) systems.
  • Loss aversion, weighing losses more than gains, is typically reduced by considering future outcomes.
  • Model-based control is hypothesized to enable this foresight.

Purpose of the Study:

  • To investigate the relationship between loss aversion and model-based control.
  • To examine the link between decision systems and risk aversion.

Main Methods:

  • Utilized a dataset of 117 participants completing two distinct tasks.
  • Employed four computational models to analyze choice data.
  • Measured loss aversion and model-based control.

Main Results:

  • Found a positive relationship between loss aversion and model-based control, contrary to expectations.
  • Did not find a significant relationship between decision systems and risk aversion.

Conclusions:

  • Model-based control may be positively associated with loss aversion.
  • The interplay between decision systems, loss aversion, and risk aversion requires further investigation.