Redefining the relationship between effort and reward: Choice-execution model of effort-based decisions

Neuroscientific studies reliably demonstrate that rewards play a crucial role in guiding our choices when confronted with different effortful actions we could make. At the same time, psychological and economic research shows that effort we exert is not reliably predicted by the rewards we end up receiving. Why the mismatch between the two lines of evidence? Inspired by neuroscientific literature, we argue that value-based models of decision-making expose the complexity of the relationship between effort and reward, which changes between two crucial stages of the effort-based decision making process: Choice (i.e. action selection) and Execution (i.e. action execution involving actual effort exertion). To test this assumption, in the present study we set up two experiments (E1: N = 72, E2: N = 87), using a typical neuroscientific effort-based decision-making task. The findings of these experiments reveal that when making prospective choices, rewards do guide the level of effort people are prepared to exert, consistent with typical findings from Neuroscience. At a later stage, during execution of effortful actions, performance is determined by the actual amount of effort that needs to be exerted, consistent with psychological and behavioral economic research. We use the model we tested and the findings we generated to highlight critical new insights into effort-reward relationship, bringing different literatures together in the context of questions regarding what effort its, and the role that values play.