Related Experiment Video
Updated: Dec 26, 2025
08:24
The Joint Effect of Social Comparison and Social Distance on Evaluation of Intertemporal Choice Outcomes in Event-related Potential Studies
Published on: August 25, 2023
1.0K
A neuronal theory of sequential economic choice
Benjamin Y Hayden1, Rubén Moreno-Bote2,3,4
1Department of Neuroscience and Center for Magnetic Resonance Research, University of Minnesota, Minneapolis, MN, USA.
Brain and Neuroscience Advances
|March 14, 2020
Summary
New research proposes a framework for neural economic choice, where value is assessed against rejection and decisions are made when an option
Area of Science:
- Neuroscience
- Cognitive Science
- Decision Science
Background:
- Economic choice research has traditionally focused on comparing options.
- Previous models did not fully explain the dynamic neural processes underlying value-based decision-making.
Purpose of the Study:
- To introduce a novel framework for the neural underpinnings of economic choice.
- To elucidate how the brain evaluates options and makes decisions dynamically.
Main Methods:
- The study reviews and synthesizes findings from recent neuroscientific research on economic choice.
- It proposes a theoretical model based on attentional focus and relative value assessment.
Main Results:
- Neural evaluation is limited to the attended option, judged against all alternatives.
- Value is computed relative to rejection, and choices are made when an option's value crosses a threshold.
- Neural processing for comparison occurs dynamically and in parallel across multiple brain levels.
Conclusions:
- This framework offers a new perspective on how the brain computes value and makes choices.
- It resolves issues related to linking neural activity to options, comparisons, actions, and outcomes.
- The model highlights the dynamic and attention-driven nature of neural economic choice.
More Related Videos
07:05Operant Protocols for Assessing the Cost-benefit Analysis During Reinforced Decision Making by Rodents
Published on: September 10, 2018
6.4K
07:42An Automated T-maze Based Apparatus and Protocol for Analyzing Delay- and Effort-based Decision Making in Free Moving Rodents
Published on: August 2, 2018
14.3K
Related Concept Videos
01:37Reason and Intuition
7.3K
The human brain processes information for decision-making using one of two routes: an intuitive system and a rational system (Epstein, 1994; popularized by Kahneman, 2011 as System 1 and System 2, respectively). The intuitive system is quick, impulsive, and operates with minimal effort, relying on emotions or habits to provide cues for what to do next, while the rational system is logical, analytical, deliberate, and methodical. Research in neuropsychology suggests that the...
7.3K
01:26Social Exchange Theory
285
As formulated by John Thibaut and Harold Kelley, Social Exchange Theory explains human relationships as economic-like exchanges that maximize rewards and minimize costs. This theory suggests that individuals engage in relationships to gain benefits and reduce burdens, similar to economic transactions. It has been widely applied to various types of relationships, including romantic, professional, and social interactions.Rewards and Costs in RelationshipsRelationship rewards include emotional...
285
02:06Social Exchange Theory
39.4K
We have discussed why we form relationships, what attracts us to others, and different types of love. But what determines whether we are satisfied with and stay in a relationship? One theory that provides an explanation is social exchange theory. According to social exchange theory, we act as naïve economists in keeping a tally of the ratio of costs and benefits of forming and maintaining a relationship with others (Rusbult & Van Lange, 2003).
39.4K
01:09Decision Making: P-value Method
6.7K
The process of hypothesis testing based on the P-value method includes calculating the P- value using the sample data and interpreting it.
First, a specific claim about the population parameter is proposed. The claim is based on the research question and is stated in a simple form. Further, an opposing statement to the claim is also stated. These statements can act as null and alternative hypotheses: a null hypothesis would be a neutral statement while the alternative hypothesis can...
First, a specific claim about the population parameter is proposed. The claim is based on the research question and is stated in a simple form. Further, an opposing statement to the claim is also stated. These statements can act as null and alternative hypotheses: a null hypothesis would be a neutral statement while the alternative hypothesis can...
6.7K
01:14Decision Making: Traditional Method
5.0K
The process of hypothesis testing based on the traditional method includes calculating the critical value, testing the value of the test statistic using the sample data, and interpreting these values.
First, a specific claim about the population parameter is decided based on the research question and is stated in a simple form. Further, an opposing statement to this claim is also stated. These statements can act as null and alternative hypotheses, out of which a null hypothesis would be a...
First, a specific claim about the population parameter is decided based on the research question and is stated in a simple form. Further, an opposing statement to this claim is also stated. These statements can act as null and alternative hypotheses, out of which a null hypothesis would be a...
5.0K
01:25Neural Circuits
2.5K
Neural circuits and neuronal pools are two of the main structures found in the nervous system. Neural circuits are networks of neurons that work together to carry out a specific task or process. They consist of interconnected neurons and glial cells, which provide structural and metabolic support.
Neuronal pools are collections of nerve cells with similar functions and interact through chemical and electrical signals. These pools include both interneurons (the central neural circuit nodes that...
Neuronal pools are collections of nerve cells with similar functions and interact through chemical and electrical signals. These pools include both interneurons (the central neural circuit nodes that...
2.5K