Chapter 14: Decision Making Pt. I Flashcards
Why are Parkinson’s patients more likely to have gambling addictions?
parkinson has systematic degeneration of dopamine synthesizing neurons. parkinsons patients get dopamine agonists during treatment in high levels which are related to reward based learning. uncontrollable compulsions.
What is expected value? Is this a normative or a prospect theory?
The average value in a particular currency of the potential outcome of a decision as weighed by the relative probabilities of these outcome. Calculated by multiplying the probability of each possible outcome by its associated reward. Normative theory = choose the option with the highest expected value. You roll a die and get paid $1 for each spot (e.g., $6 if you roll a 6). How much would you pay for this opportunity? $2? $3? $4 $5. Expected value decisions change as the stakes increase. Prospect theory?
What is expected utility? What is evidence for and against expected-utility theories?
the personal value placed on the potential outcome of a decision as derived from the combination of the value and probability of its potential outcomes. The psychological as opposed to economic value assigned to an outcome. The difference between $0 and $1000 has a greater utility than the difference between $100,000 and $101,000. Expected-Utility theories assume that we are rational—that decisions won’t change in different context. Kill or save 300 people 400 people out of 600
What are framing effects and what are range effects?
Framing effects: The way a question is posed (or ‘framed’) will bias our decisions. Range Effects: When people are faced with a trade-off between time and money, they are more likely to pay a cost in time to save money when the stakes are low…even though the cost-benefit ratio is identical in the two conditions.
Describe three heuristics.
Heuristics are ‘rules of thumb’ that are used when deciding under time constraints. Representativeness heuristic involves decisions based solely on what best matches an expectation. The availability heuristic involves judgments based on how easily decision options can be brought to mind. The anchoring heuristicis the tendency to bias the perceived value of an option based on its initial starting point.
What is bounded rationality?
the idea that biological limitations on cognitive processing prevent people from making decisions or from reasoning in a fully functional manner
What is the endowment effect?
a bias in decision making in which people will pay less to buy something then they would accept to sell the same thing if they already possessed it.
What is the framing effect? What brain areas are related to this effect?
The way a question is posed (or ‘framed’) will bias our decisions. DMPFC is active when people make decisions that run counter to the framing effect. Executive functions overriding a “natural” response?
How do prospect theories and expected-utility theories differ?
prospect theory attempts to predict what people will chose not like expected utility which describes what they should choose?
What is game theory?
Most decisions involve other people…who have different perspectives and information. Referred to as game theory because most concepts can be expressed as simple games. The goal is always to maximize one’s reward. Games can be cooperative or competitive in nature.
How is the Nash equilibrium related to the prisoner’s dilemma?
two or more players in which each player is assumed to know the equilibrium strategies of the other players, and no player has anything to gain by changing only his or her own strategy. In the prisoners delemia if you change your strategy you could lose
Cooperation in the prisoner’s dilemma is related to increased activity in the ventral striatum. What are two possible interpretations of this relationship?
Is cooperation inherently rewarding? Or, does cooperation predict likely future rewards?
What is the ultimatum game? What is hyperscanning? What brain is activated when someone receives an unfair offer?
A rational player would accept any offer. But, people tend not to accept bad offers. Proposers tend to offer fair offers out of fear of this potential rejection. hyper scanning: Hyperscanning Most decisions are made in response to other people, you partner invested 20 how much do you want to return. Unfair offers activate the insula (as does disgust)
What is the trust game? What hormone is related to trusting? What brain area becomes activated in trust situations? How does this activity change over a series of interactions?
Trust game is give people money its tripled but not necessarily they’ll give it back. Oxytocin for trusting. The caudate nucleus is involved with trusting someone. Early rounds -> caudate activates in responseto the actions of the opponent. Later rounds -> caudate activates earlier in the trial…signaling an intention to trust the opponent.
What dopamine systems are related to decision-making?
Mesocortical pathway projects from the VTA to the cortex (especially medial frontal lobes). Mesolimbic pathway projects from the ventral tegmental (VTA) area to the nucleus accumbens, amygdala, and hippocampus
