M06 - Decision Making Flashcards
What processes are needed for decision making
- goal-directed behavior
- reward learning & memory
- executive control
- inference establishes causal links
- often in a social context
What are the two discipline based models in decision-making?
- economic models
- psychological models
What type of choice do you have in an economic model?
Rational choice but choice bias
What is the type of choice in a psychological model?
Choices are context-dependent (social, cultural, moral)
What are economic decisions?
- sophisticated rational beliefs
- stale preferences
- maximizes own payoff
- disregards other peoples well-being
What is the disadvantage of economic decisions?
Prone to biases
What disciplines make up neuroeconomics?
- psychology
- economics
- neuroscience
What decisions are made in neuroeconomics?
- value-based decision making
Is social value accounted like non-social value?
Are the underlying circuits similar?
Which brain chemicals are involved?
What are the core concepts in decision making?
- expected value
- risk & ambiguity
What is a risk?
Known variance of a distribution (you know all the possible outcomes of the distribution)
What is ambiguity?
Unknown variance (outcomes) (we don’t know the entire distribution)
What is risk aversion?
Prefer a lower, certain reward over a risky higher (on average) reward
What is risk seeking?
You need to be paid more than the expected outcomes to not take the gamble
What is the purpose of rewards?
To reinforce behavior
What brain region is largely destroyed in Parkinson’s disease?
Up to 60% of Substantia Nigra
What are the reasons of destroyed SNr in Parkinson’s?
- trauma, tumors
- encephalitis lethargica
- MTPT (frozen addicts)
What happens to dopamine in Parkinson’s patients?
Up to 80% of dopamine is lost because brain desperately tried to compensate (reducing degradation, increasing receptors)
What is the role of dopamine in learning?
- plays a large role in reinforcement learning
- acts as a teaching signal
- learning from (un)expected outcomes
Where does dopamine act as a teaching signal?
- Reward Prediction Error
- Rescorla-Wagner learning rule
- Basis of associative learning
What is the Rescorla-Wagner learning rule and prediction error?
→ mathematical rule used to describe and predict classical conditioning
→ basic idea: learning occurs when there is a discrepancy or prediction error between what is expected and what actually happens
→ rule suggests that learning occurs when actual outcome differs from what was predicted based on the existing associations
What is Neuroeconomics for?
concepts and methods of neuroscience could help resolve issues in economic and social sciences
What is an expected value?
The magnitude of an offer * its probability