Economic approaches to decision making assume that people attach values to prospective goods and act to maximize their obtained value. Neuroeconomics strives to observe these values directly in the brain. A widely used valuation term in formal learning and decision-making models is the reward prediction error: the value of an outcome relative to its expected value. An influential theory (Holroyd & Coles, 2002) claims that an electrophysiological component, feedback related negativity (FRN), codes a reward prediction error in the human brain. Such a component should be sensitive to both the prior likelihood of reward and its magnitude on receipt. A number of studies have found the FRN to be insensitive to reward magnitude, thus questioning the Holroyd and Coles account. However, because of marked inconsistencies in how the FRN is measured, a meaningful synthesis of this evidence is highly problematic. We conducted a meta-analysis of the FRN's response to both reward magnitude and likelihood using a novel method in which published effect sizes were disregarded in favor of direct measurement of the published waveforms themselves, with these waveforms then averaged to produce "great grand averages." Under this standardized measure, the meta-analysis revealed strong effects of magnitude and likelihood on the FRN, consistent with it encoding a reward prediction error. In addition, it revealed strong main effects of reward magnitude and likelihood across much of the waveform, indicating sensitivity to unsigned prediction errors or "salience." The great grand average technique is proposed as a general method for meta-analysis of event-related potential (ERP).

/pdf/a-neural-reward-prediction-error-revealed-by-a-meta-analysis-2le6j6zx77.pdf

A neural reward prediction error revealed by a meta-analysis of ERPs using great grand averages.

In order to control behavior in an adaptive manner the brain has to learn how some situations and actions predict positive or negative outcomes. During the last decade cognitive neuroscientists have shown that the brain is able to evaluate and learn from outcomes within a few hundred milliseconds of their occurrence. This research has been primarily focused on the feedback-related negativity (FRN) and the P3, two event-related potential (ERP) components that are elicited by outcomes. The FRN is a frontally distributed negative-polarity ERP component that typically reaches its maximal amplitude 250 ms after outcome presentation and tends to be larger for negative than for positive outcomes. The FRN has been associated with activity in the anterior cingulate cortex. The P3 (~300-600 ms) is a parietally distributed positive-polarity ERP component that tends to be larger for large magnitude than for small magnitude outcomes. The neural sources of the P3 are probably distributed over different regions of the cortex. This paper examines the theories that have been proposed to explain the functional role of these two ERP components during outcome processing. Special attention is paid to extant literature addressing how these ERP components are modulated by outcome valence (negative vs. positive), outcome magnitude (large vs. small), outcome probability (unlikely vs. likely) and behavioral adjustment. The literature offers few generalizable conclusions, but is beset with a number of inconsistencies across studies. This paper discusses the potential reasons for these inconsistencies and points out some challenges that will shape the field over the next decade.

/pdf/event-related-potential-studies-of-outcome-processing-and-3u7jkzgc8v.pdf

Event-related potential studies of outcome processing and feedback-guided learning.

It is well established that neural imaging technology can predict preferences for consumer products. However, the applicability of this method to consumer marketing research remains uncertain, partly because of the expense required. In this article, the authors demonstrate that neural measurements made with a relatively low-cost and widely available measurement method—electroencephalography (EEG)—can predict future choices of consumer products. In the experiment, participants viewed individual consumer products in isolation, without making any actual choices, while their neural activity was measured with EEG. At the end of the experiment, participants were offered choices between pairs of the same products. The authors find that neural activity measured from a midfrontal electrode displays an increase in the N200 component and a weaker theta band power that correlates with a more preferred product. Using recent techniques for relating neural measurements to choice prediction, they demonstrate that these m...

Using EEG to Predict Consumers' Future Choices

The influence of anhedonia on feedback negativity in major depressive disorder

The research domain criteria framework: The case for anterior cingulate cortex

Emerging, and old, dilemmas for food security in Latin America

Las decisiones humanas suelen implicar costos y beneficios distribuidos en el tiempo. Este articulo revisa el estado actual de la investigacion con neuroimagen acerca de la manera en que el cerebro produce decisiones intertemporales. Se propone que mientras resulta poco probable que la neurociencia sea el terreno adecuado para decidir entre los modelos formales propuestos por la economia conductual, los recientes avances en el estudio del cerebro ofrecen la posibilidad de enriquecer dichos modelos incorporando nuevos conocimientos respecto a como el cerebro representa magnitudes, atribuye valor, regula conductas orientadas a metas y genera pensamiento prospectivo.

/pdf/preferencia-temporal-en-el-cerebro-una-revision-critica-de-1z4yeeiza7.pdf

Preferencia temporal en el cerebro: Una revisión crítica de las contribuciones de la neuroeconomía al estudio de la elección intertemporal

Studies using Event-Related Potentials have shown the existence of a component called Feedback Error-Related Negativity (fERN). This component has been characterized as a negative deflection which responds differentially to profits and losses in terms of expected and unexpected outcomes. Thus, while some studies have defined the idea of "expected outcome" as the probability to win vs. to lose, others have defined it as the expected size of rewards. How these alternative interpretations of "expected outcome" affect the fERN's research, and the effects of their interaction under a specific model of "expected value" has not been properly assessed. This work contextualizes the general study of neural mechanisms involved in decisionmaking processes, putting the fERN studies in context; besides, it reviews the two main approaches to its research; and finally, it explores the possibilities to further expand the fERN studies, in the context of the transdisciplinary rising field of neuroeconomics.

/pdf/potenciales-cerebrales-relacionados-a-feedback-en-el-estudio-4c8kpjcvgz.pdf

Potenciales cerebrales relacionados a feedback en el estudio del aprendizaje y la toma de decisiones económicas

Potenciales cerebrales relacionados a feedback en el estudio del aprendizaje y la toma de decisiones económicas Brain Potentials Related to Feedback on the Study of Learning and Economic Decision Making

Este articulo revisa aportes recientes en el campo de las ciencias cognitivas en relacion al diseno del habitat construido. Primeramente se describen los principales paradigmas teoricos que han animado el debate sobre cognicion y conducta humanas durante las ultimas decadas, para luego examinar las posibles aplicaciones de estas teorias en la arquitectura y el urbanismo, particularmente en torno a la capacidad de orientarnos y movernos en el medio construido.

/pdf/movilidad-en-el-medio-construido-una-mirada-desde-la-368ovp2tly.pdf

Movilidad en el medio construido. Una mirada desde la cognición espacial

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