According to these researchers, decision-makers are assumed to be completely rational. Traditionally, researchers in the social science field, especially economists, have held the view that individual decision-making is the pursuit of utility maximization and regarded the principles of logic, probability theory, and game theory as axioms of judgment and decision-making. Thus, this mini-review article aims to propose an integrated framework for introducing ecological rationality and embodied emotion into the field of neuroeconomics by virtue of insights from the SMH. In this case, the SMH could act as a bridge to translate the ecological rationality and the embodied emotion into emerging neuroeconomics. On the other hand, behavioral decision-making has spawned many new interdisciplines, including neuroeconomics. The embodied emotion furthermore emphasizes that emotions are embodied in the body and the brain. Unlike the traditional maximizing rationality and bounded satisficing rationality, the ecological rationality stresses that emotions should be brought to the decision-making process. Despite some debate, the SMH has provided not only a neurobiological framework for understanding emotion and decision-making but also a good empirical support for ecological rationality and embodied emotion. Journal of Neuroscience, 31: 7527-7532.The somatic marker hypothesis (SMH) has been utilized to demonstrate the role of emotion and somatic state in decision-making under uncertainty over the past two decades. Ventromedial frontal lobe damage disrupts value maximization in humans. Psychological Review, 120: 395-410.Ĭamille, N., Griffiths, C. Rational temporal predictions can underlie apparent failures to delay gratification. Behavioral and Brain Sciences, 36: 661-679. An opportunity cost model of subjective effort and task performance. Brain activity in valuation regions while thinking about the future predicts individual discount rates. The valuation system: A coordinate-based meta-analysis of BOLD fMRI experiments examining neural correlates of subjective value. Striatum is necessary for stimulus-value but not action-value learning in humans. Vo, K., Rutledge, R., Chatterjee, A., and Kable, J. Clinical Psychological Science, 2: 767-782. Decision-making impairment in mental illness: a meta-analysis. Functionally dissociable influences on learning rate in a dynamic environment. BOLD subjective value signals exhibit robust range adaptation. Medial prefrontal cortical activity reflects dynamic reassessment of subjective value during voluntary persistence. Current Opinion in Behavioral Sciences, 5: 100-107. Neural markers of individual differences in decision making. No effect of commercial cognitive training on brain activity, choice behavior or cognitive performance. K.*, Falcone, M., McConnell, M.*, Bernardo, L., Parthasarathi, T.*, Cooper, N.*, Ashare, R., Audrain-McGovern, J., Hornik, R., Diefenback, P., Lee, F., and Lerman, C. (2018) Diminished cortical thickness is associated with impulsive choice in adolescence. A., Garcia de La Garza, A., Rosen, A., Ruparel, K., Sharma, A., Shinohara, R. H., Sotiras, A., Kaczkurkin, A., Moore, T. (2018) Amygdala functional and structural connectivity predicts individual risk tolerance. (in press) A bias-variance trade-off governs individual differences in on-line learning in an unpredictable environment.
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