Related Experiment Video
Updated: May 30, 2025

Measuring the Subjective Value of Risky and Ambiguous Options using Experimental Economics and Functional MRI Methods
Published on: September 19, 2012
Dissociable effects of perceived control on reward-related neural dynamics under risk and ambiguity
Shiting Chen1, Menglin Wu2, Jianbiao Zhao1
1Department of Psychology, Guangzhou University, Guangzhou, China; Center for Reward and Social Cognition, School of Education, Guangzhou University, Guangzhou, China.
Abstract:
Perceived control plays a crucial role in risk-taking behavior, but its neural effect on reward dynamics in risky and ambiguous decision making remains unclear. Here, we addressed this issue by measuring participants' (N = 40) EEG activity while they were performing a wheel-of-fortune task. Participants either made choices themselves (a high control condition) or followed the computer's choice (a low control condition) under risky or ambiguous decision contexts. Behavioral and rating data showed a stronger control effect in the risky compared to the ambiguous decision context. In parallel, we found an effect of perceived control on choice evaluation (indexed by the cue-P3) in the risky but not ambiguous context. However, the control effect was more pronounced during feedback anticipation (indexed by the stimulus-preceding negativity) and outcome appraisal (indexed by delta oscillation) in the ambiguous context compared to the risky context. Together, our findings suggest that experiencing control alters reward dynamics in uncertain decision making, with dissociable effects between risk and ambiguity.
Related Concept Videos
Factors Affecting Perception
An illustrative example of a perceptual set is the scenario where an airline pilot told...
Timing and Consequences on Behavior
Humans, however, can respond to delayed reinforcers. We often make decisions between immediate small rewards and delayed larger rewards. This ability to delay gratification is a significant...
Self-Discrepancy Theory
Fundamental Attribution Error
Rotter's Locus of Control
Individuals with an internal locus of control believe that their personal efforts and decisions directly affect their...

