Author:
Panidi Ksenia,Vorobiova Alicia Nunez,Feurra Matteo,Klucharev Vasily
Abstract
AbstractIn this study, we provide causal evidence that the dorsolateral prefrontal cortex (DLPFC) supports the computation of subjective value in choices under risk via its involvement in probability weighting. Following offline continuous theta-burst transcranial magnetic stimulation (cTBS) of the DLPFC subjects (N = 30, mean age 23.6, 56% females) completed a computerized task consisting of 96 binary lottery choice questions presented in random order. Using the hierarchical Bayesian modeling approach, we then estimated the structural parameters of risk preferences (the degree of risk aversion and the curvature of the probability weighting function) and analyzed the obtained posterior distributions to determine the effect of stimulation on model parameters. On a behavioral level, temporary downregulation of the left DLPFC excitability through cTBS decreased the likelihood of choosing an option with higher expected reward while the probability of choosing a riskier lottery did not significantly change. Modeling the stimulation effects on risk preference parameters showed anecdotal evidence as assessed by Bayes factors that probability weighting parameter increased after the left DLPFC TMS compared to sham.
Funder
Government of the Russian Federation
Basic Research Program at the National Research University Higher School of Economics
Publisher
Springer Science and Business Media LLC
Reference87 articles.
1. von Neumann, J. & Morgenstern, O. Theory of Games and Economic Behavior—John Von Neumann, Oskar Morgenstern - Google Books (Princeton University Press, 1947).
2. Quiggin, J. A theory of anticipated utility. J. Econ. Behav. Organ. https://doi.org/10.1016/0167-2681(82)90008-7 (1982).
3. Tversky, A. & Kahneman, D. Advances in prospect theory: Cumulative representation of uncertainty. J. Risk Uncertain. https://doi.org/10.1007/BF00122574 (1992).
4. Allais, M. L. Comportement de l’Homme Rationnel devant le Risque: Critique des Postulats et Axiomes de l’Ecole Americaine. Econometrica 21, 503 (1953).
5. Starmer, C. Developments in non-expected utility theory: The hunt for a descriptive theory of choice under risk. J. Econ. Lit. https://doi.org/10.1257/jel.38.2.332 (2000).
Cited by
3 articles.
订阅此论文施引文献
订阅此论文施引文献,注册后可以免费订阅5篇论文的施引文献,订阅后可以查看论文全部施引文献