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Neuronal origins of reduced accuracy and biases in economic choices under sequential offers

Economic choices are characterized by a variety of biases. Understanding their origins is a long-term goal for neuroeconomics, but progress on this front has been limited. Here, we examined choice biases observed when two goods are offered sequentially. In the experiments, rhesus monkeys chose betwe...

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Detalles Bibliográficos
Autores principales: Shi, Weikang, Ballesta, Sebastien, Padoa-Schioppa, Camillo
Formato: Online Artículo Texto
Lenguaje:English
Publicado: eLife Sciences Publications, Ltd 2022
Materias:
Acceso en línea:https://www.ncbi.nlm.nih.gov/pmc/articles/PMC9045815/
https://www.ncbi.nlm.nih.gov/pubmed/35416775
http://dx.doi.org/10.7554/eLife.75910
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author Shi, Weikang
Ballesta, Sebastien
Padoa-Schioppa, Camillo
author_facet Shi, Weikang
Ballesta, Sebastien
Padoa-Schioppa, Camillo
author_sort Shi, Weikang
collection PubMed
description Economic choices are characterized by a variety of biases. Understanding their origins is a long-term goal for neuroeconomics, but progress on this front has been limited. Here, we examined choice biases observed when two goods are offered sequentially. In the experiments, rhesus monkeys chose between different juices offered simultaneously or in sequence. Choices under sequential offers were less accurate (higher variability). They were also biased in favor of the second offer (order bias) and in favor of the preferred juice (preference bias). Analysis of neuronal activity recorded in the orbitofrontal cortex revealed that these phenomena emerged at different computational stages. Lower choice accuracy reflected weaker offer value signals (valuation stage), the order bias emerged during value comparison (decision stage), and the preference bias emerged late in the trial (post-comparison). By neuronal measures, each phenomenon reduced the value obtained on average in each trial and was thus costly to the monkey.
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spelling pubmed-90458152022-04-28 Neuronal origins of reduced accuracy and biases in economic choices under sequential offers Shi, Weikang Ballesta, Sebastien Padoa-Schioppa, Camillo eLife Neuroscience Economic choices are characterized by a variety of biases. Understanding their origins is a long-term goal for neuroeconomics, but progress on this front has been limited. Here, we examined choice biases observed when two goods are offered sequentially. In the experiments, rhesus monkeys chose between different juices offered simultaneously or in sequence. Choices under sequential offers were less accurate (higher variability). They were also biased in favor of the second offer (order bias) and in favor of the preferred juice (preference bias). Analysis of neuronal activity recorded in the orbitofrontal cortex revealed that these phenomena emerged at different computational stages. Lower choice accuracy reflected weaker offer value signals (valuation stage), the order bias emerged during value comparison (decision stage), and the preference bias emerged late in the trial (post-comparison). By neuronal measures, each phenomenon reduced the value obtained on average in each trial and was thus costly to the monkey. eLife Sciences Publications, Ltd 2022-04-13 /pmc/articles/PMC9045815/ /pubmed/35416775 http://dx.doi.org/10.7554/eLife.75910 Text en © 2022, Shi et al https://creativecommons.org/licenses/by/4.0/This article is distributed under the terms of the Creative Commons Attribution License (https://creativecommons.org/licenses/by/4.0/) , which permits unrestricted use and redistribution provided that the original author and source are credited.
spellingShingle Neuroscience
Shi, Weikang
Ballesta, Sebastien
Padoa-Schioppa, Camillo
Neuronal origins of reduced accuracy and biases in economic choices under sequential offers
title Neuronal origins of reduced accuracy and biases in economic choices under sequential offers
title_full Neuronal origins of reduced accuracy and biases in economic choices under sequential offers
title_fullStr Neuronal origins of reduced accuracy and biases in economic choices under sequential offers
title_full_unstemmed Neuronal origins of reduced accuracy and biases in economic choices under sequential offers
title_short Neuronal origins of reduced accuracy and biases in economic choices under sequential offers
title_sort neuronal origins of reduced accuracy and biases in economic choices under sequential offers
topic Neuroscience
url https://www.ncbi.nlm.nih.gov/pmc/articles/PMC9045815/
https://www.ncbi.nlm.nih.gov/pubmed/35416775
http://dx.doi.org/10.7554/eLife.75910
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