CiteULike: klouie's value

Dissociating the Role of the Orbitofrontal Cortex and the Striatum in the Computation of Goal Values and Prediction Errors

Todd Hare — 2008-05-29T14:39:09-00:00

J. Neurosci., Vol. 28, No. 22. (28 May 2008), pp. 5623-5630.

To make sound economic decisions, the brain needs to compute several different value-related signals. These include goal values that measure the predicted reward that results from the outcome generated by each of the actions under consideration, decision values that measure the net value of taking the different actions, and prediction errors that measure deviations from individuals' previous reward expectations. We used functional magnetic resonance imaging and a novel decision-making paradigm to dissociate the neural basis of these three computations. Our results show that they are supported by different neural substrates: goal values are correlated with activity in the medial orbitofrontal cortex, decision values are correlated with activity in the central orbitofrontal cortex, and prediction errors are correlated with activity in the ventral striatum. 10.1523/JNEUROSCI.1309-08.2008

Functional Specialization of the Primate Frontal Cortex during Decision Making

Daeyeol Lee — 2007-08-03T09:16:35-00:00

J. Neurosci., Vol. 27, No. 31. (1 August 2007), pp. 8170-8173.

Economic theories of decision making are based on the principle of utility maximization, and reinforcement-learning theory provides computational algorithms that can be used to estimate the overall reward expected from alternative choices. These formal models not only account for a large range of behavioral observations in human and animal decision makers, but also provide useful tools for investigating the neural basis of decision making. Nevertheless, in reality, decision makers must combine different types of information about the costs and benefits associated with each available option, such as the quality and quantity of expected reward and required work. In this article, we put forward the hypothesis that different subdivisions of the primate frontal cortex may be specialized to focus on different aspects of dynamic decision-making processes. In this hypothesis, the lateral prefrontal cortex is primarily involved in maintaining the state representation necessary to identify optimal actions in a given environment. In contrast, the orbitofrontal cortex and the anterior cingulate cortex might be primarily involved in encoding and updating the utilities associated with different sensory stimuli and alternative actions, respectively. These cortical areas are also likely to contribute to decision making in a social context. 10.1523/JNEUROSCI.1561-07.2007

Neuroeconomics: cardinal utility in the orbitofrontal cortex?

V Stuphorn — 2006-09-12T18:59:31-00:00

Curr Biol, Vol. 16, No. 15. (8 August 2006)

Modern economics no longer uses the concept of cardinal utility, which describes the value of a good independently of a comparison with another good. New electrophysiological recordings in primates performing economic choices suggest a neurological substrate for cardinal utility, a finding that economists should perhaps take note of.