Rational choice should be guided solely by the prospects of available options. However, our decis... more Rational choice should be guided solely by the prospects of available options. However, our decisions are often influenced by irrecoverable past costs, even when the current course of action turns out to be unfavorable, reflecting a cognitive bias known as the "sunk-cost effect". In everyday life, many decisions are made under stress or elicit stress themselves. Whether and how stress impacts the sunk-cost effect, however, is not known. Based on evidence suggesting that the sunk-cost effect critically depends on the dorsolateral prefrontal cortex, which in turn is highly sensitive to stress, we hypothesized that stress may reduce the influence of past expenses on current decisions. Participants underwent a psychosocial stress manipulation or control procedure, before we assessed their sunk-cost tendency in a monetary investment task. Overall, participants showed a pronounced sunk-cost effect, particularly for options with low expected value. Acute stress reduced this tendency to invest in risky options with low probability of success following high prior investments. Moreover, the strength of this reduction of the sunk-cost effect was predicted by individual cortisol reactivity. These findings show that acute stress may reduce the impact of past expenses on current choice and that this effect may be mediated by glucocorticoid action.
Adaptive performance in uncertain environments depends on the ability to continuously update inte... more Adaptive performance in uncertain environments depends on the ability to continuously update internal beliefs about environmental states. Recent correlative evidence suggests that a frontoparietal network including the dorsolateral prefrontal cortex (dlPFC) supports belief updating under uncertainty, but whether the dlPFC serves a "causal" role in this process is currently not clear. To elucidate its contribution, we leveraged transcranial direct current stimulation (tDCS) over the right dlPFC, while 91 participants performed an incentivized belief-updating task. Participants also underwent a psychosocial stress or control manipulation to investigate the role of stress, which is known to modulate dlPFC functioning. We observed enhanced monetary value updating after anodal tDCS when it was normatively expected from a Bayesian perspective. A model-based analysis indicates that this effect was driven by belief updating. However, we also observed enhanced non-normative value updating, which might have been driven instead by expectancy violation. Enhanced normative and non-normative value updating ref lected increased vs. decreased Bayesian rationality, respectively. Furthermore, cortisol increases were associated with enhanced positive, but not with negative, value updating. The present study thereby sheds light on the causal role of the right dlPFC in the remarkable human ability to navigate uncertain environments by continuously updating prior knowledge following new evidence.
Human decisions are often inf luenced by emotions. An economically relevant example is the role o... more Human decisions are often inf luenced by emotions. An economically relevant example is the role of fear in generating loss aversion. Previous research implicates the amygdala as a key brain structure in the experience of fear and loss aversion. The neural mechanism behind emotional inf luences on loss aversion is, however, unclear. To address this, we measured brain activation with functional magnetic resonance imaging (fMRI) while participants made decisions about monetary gambles after viewing fearful or neutral faces. We observed that loss aversion following the presentation of neutral faces was mainly predicted by greater deactivations for prospective losses (relative to activations for prospective gains) in several brain regions, including the amygdala. By contrast, increases in loss aversion following the presentation of fearful faces were mainly predicted by greater activations for prospective losses. These findings suggest a fear-induced shift from positive to negative value coding that reflects a context-dependent involvement of distinct valuation processes.
Psychopathy is a serious personality disorder characterized by a range of affective and behaviora... more Psychopathy is a serious personality disorder characterized by a range of affective and behavioral adaptation deficits. Behavioral adaptation and individual as well as social functioning require monitoring of one’s behavior, i.e., performance monitoring. Performance monitoring has been associated with specific neurophysiological processes, for instance, an astoundingly uniform sequence in the human EEG. In this review, I will present evidence for altered and likely deficient performance monitoring processes in psychopathy, which can explain a range of behavioral deficits. Previous research, however, is also characterized by inconsistent findings and possible reasons will be discussed. Among some proposals for advancement of the field, applying a multidimensional and not unitary construct perspective of psychopathy may allow detection of unique or differential effects of psychopathic traits and therefore represents a particularly useful approach for future research. Neural responses related to performance monitoring are well-validated units of measurement, and recent research also highlights their value as targets and tools of intervention.
In many everyday decisions, people exhibit loss aversion-a greater sensitivity to losses relative... more In many everyday decisions, people exhibit loss aversion-a greater sensitivity to losses relative to gains of equal size. Loss aversion is thought to be (at least partly) mediated by emotional-in particular, fear-related-processes. Decision research has shown that even incidental emotions, which are unrelated to the decision at hand, can influence decision making. The effect of incidental fear on loss aversion, however, is thus far unclear. In two studies, we experimentally investigated how incidental fear cues, presented during (Study 1) or before (Study 2) choices to accept or reject mixed gambles over real monetary stakes, influence monetary loss aversion. We find that the presentation of fearful faces, relative to the presentation of neutral faces, increased risk aversion-an effect that could be attributed to increased loss aversion. The size of this effect was moderated by psychopathic personality: Fearless dominance, in particular its interpersonal facet, but not self-centered impulsivity, attenuated the effect of incidental fear cues on loss aversion, consistent with reduced fear reactivity. Together, these results highlight the sensitivity of loss aversion to the affective context.
Social distance (i.e., the degree of closeness to another person) affects the way humans perceive... more Social distance (i.e., the degree of closeness to another person) affects the way humans perceive and respond to fairness during financial negotiations. Feeling close to someone enhances the acceptance of monetary offers. Here, we explored whether this effect also extends to the spatial domain. Specifically, using an iterated version of the Ultimatum Game in a within-subject design, we investigated whether different visual spatial distance-cues result in different rates of acceptance of otherwise identical monetary offers. Study 1 found that participants accepted significantly more offers when they were cued with spatial close-ness than when they were cued with spatial distance. Study 2 replicated this effect using identical procedures but different spatial-distance cues in an independent sample. Importantly , our results could not be explained by feelings of social closeness. Our results demonstrate that mere perceptions of spatial closeness produce analogous–but independent– effects to those of social closeness.
We often make decisions with uncertain consequences. The outcomes of the choices we make are usua... more We often make decisions with uncertain consequences. The outcomes of the choices we make are usually not perfectly predictable but probabilistic, and the probabilities can be known or unknown. Probability judgments, i.e., the assessment of unknown probabilities, can be influenced by evoked emotional states. This suggests that also the weighting of known probabilities in decision making under risk might be influenced by incidental emotions, i.e., emotions unrelated to the judgments and decisions at issue. Probability weighting describes the transformation of probabilities into subjective decision weights for outcomes and is one of the central components of cumulative prospect theory (CPT) that determine risk attitudes. We hypothesized that music-evoked emotions would modulate risk attitudes in the gain domain and in particular probability weighting. Our experiment featured a within-subject design consisting of four conditions in separate sessions. In each condition, the 41 participants listened to a different kind of music—happy, sad, or no music, or sequences of random tones—and performed a repeated pairwise lottery choice task. We found that participants chose the riskier lotteries significantly more often in the “happy” than in the “sad” and “random tones” conditions. Via structural regressions based on CPT, we found that the observed changes in participants' choices can be attributed to changes in the elevation parameter of the probability weighting function: in the “happy” condition, participants showed significantly higher decision weights associated with the larger payoffs than in the “sad” and “random tones” conditions. Moreover, elevation correlated positively with self-reported music-evoked happiness. Thus, our experimental results provide evidence in favor of a causal effect of incidental happiness on risk attitudes that can be explained by changes in probability weighting.
Dual-process models of psychopathy postulate two etiologically relevant processes. Their involvem... more Dual-process models of psychopathy postulate two etiologically relevant processes. Their involvement in feedback processing and its neural correlates has not been investigated so far. Multi-channel EEG was collected while healthy female volunteers performed a time-estimation task and received negative or positive feedback in form of signs or emotional faces. The affective-interpersonal factor Fearless Dominance, but not Self-Centered Impulsivity, was associated with reduced feedback-related negativity (FRN) amplitudes. This neural dissociation extends previous findings on the impact of psychopathy on feedback processing and further highlights the importance of distinguishing psychopathic traits and extending previous (neuroscientific) models of psychopathy.
Rational choice should be guided solely by the prospects of available options. However, our decis... more Rational choice should be guided solely by the prospects of available options. However, our decisions are often influenced by irrecoverable past costs, even when the current course of action turns out to be unfavorable, reflecting a cognitive bias known as the "sunk-cost effect". In everyday life, many decisions are made under stress or elicit stress themselves. Whether and how stress impacts the sunk-cost effect, however, is not known. Based on evidence suggesting that the sunk-cost effect critically depends on the dorsolateral prefrontal cortex, which in turn is highly sensitive to stress, we hypothesized that stress may reduce the influence of past expenses on current decisions. Participants underwent a psychosocial stress manipulation or control procedure, before we assessed their sunk-cost tendency in a monetary investment task. Overall, participants showed a pronounced sunk-cost effect, particularly for options with low expected value. Acute stress reduced this tendency to invest in risky options with low probability of success following high prior investments. Moreover, the strength of this reduction of the sunk-cost effect was predicted by individual cortisol reactivity. These findings show that acute stress may reduce the impact of past expenses on current choice and that this effect may be mediated by glucocorticoid action.
Adaptive performance in uncertain environments depends on the ability to continuously update inte... more Adaptive performance in uncertain environments depends on the ability to continuously update internal beliefs about environmental states. Recent correlative evidence suggests that a frontoparietal network including the dorsolateral prefrontal cortex (dlPFC) supports belief updating under uncertainty, but whether the dlPFC serves a "causal" role in this process is currently not clear. To elucidate its contribution, we leveraged transcranial direct current stimulation (tDCS) over the right dlPFC, while 91 participants performed an incentivized belief-updating task. Participants also underwent a psychosocial stress or control manipulation to investigate the role of stress, which is known to modulate dlPFC functioning. We observed enhanced monetary value updating after anodal tDCS when it was normatively expected from a Bayesian perspective. A model-based analysis indicates that this effect was driven by belief updating. However, we also observed enhanced non-normative value updating, which might have been driven instead by expectancy violation. Enhanced normative and non-normative value updating ref lected increased vs. decreased Bayesian rationality, respectively. Furthermore, cortisol increases were associated with enhanced positive, but not with negative, value updating. The present study thereby sheds light on the causal role of the right dlPFC in the remarkable human ability to navigate uncertain environments by continuously updating prior knowledge following new evidence.
Human decisions are often inf luenced by emotions. An economically relevant example is the role o... more Human decisions are often inf luenced by emotions. An economically relevant example is the role of fear in generating loss aversion. Previous research implicates the amygdala as a key brain structure in the experience of fear and loss aversion. The neural mechanism behind emotional inf luences on loss aversion is, however, unclear. To address this, we measured brain activation with functional magnetic resonance imaging (fMRI) while participants made decisions about monetary gambles after viewing fearful or neutral faces. We observed that loss aversion following the presentation of neutral faces was mainly predicted by greater deactivations for prospective losses (relative to activations for prospective gains) in several brain regions, including the amygdala. By contrast, increases in loss aversion following the presentation of fearful faces were mainly predicted by greater activations for prospective losses. These findings suggest a fear-induced shift from positive to negative value coding that reflects a context-dependent involvement of distinct valuation processes.
Psychopathy is a serious personality disorder characterized by a range of affective and behaviora... more Psychopathy is a serious personality disorder characterized by a range of affective and behavioral adaptation deficits. Behavioral adaptation and individual as well as social functioning require monitoring of one’s behavior, i.e., performance monitoring. Performance monitoring has been associated with specific neurophysiological processes, for instance, an astoundingly uniform sequence in the human EEG. In this review, I will present evidence for altered and likely deficient performance monitoring processes in psychopathy, which can explain a range of behavioral deficits. Previous research, however, is also characterized by inconsistent findings and possible reasons will be discussed. Among some proposals for advancement of the field, applying a multidimensional and not unitary construct perspective of psychopathy may allow detection of unique or differential effects of psychopathic traits and therefore represents a particularly useful approach for future research. Neural responses related to performance monitoring are well-validated units of measurement, and recent research also highlights their value as targets and tools of intervention.
In many everyday decisions, people exhibit loss aversion-a greater sensitivity to losses relative... more In many everyday decisions, people exhibit loss aversion-a greater sensitivity to losses relative to gains of equal size. Loss aversion is thought to be (at least partly) mediated by emotional-in particular, fear-related-processes. Decision research has shown that even incidental emotions, which are unrelated to the decision at hand, can influence decision making. The effect of incidental fear on loss aversion, however, is thus far unclear. In two studies, we experimentally investigated how incidental fear cues, presented during (Study 1) or before (Study 2) choices to accept or reject mixed gambles over real monetary stakes, influence monetary loss aversion. We find that the presentation of fearful faces, relative to the presentation of neutral faces, increased risk aversion-an effect that could be attributed to increased loss aversion. The size of this effect was moderated by psychopathic personality: Fearless dominance, in particular its interpersonal facet, but not self-centered impulsivity, attenuated the effect of incidental fear cues on loss aversion, consistent with reduced fear reactivity. Together, these results highlight the sensitivity of loss aversion to the affective context.
Social distance (i.e., the degree of closeness to another person) affects the way humans perceive... more Social distance (i.e., the degree of closeness to another person) affects the way humans perceive and respond to fairness during financial negotiations. Feeling close to someone enhances the acceptance of monetary offers. Here, we explored whether this effect also extends to the spatial domain. Specifically, using an iterated version of the Ultimatum Game in a within-subject design, we investigated whether different visual spatial distance-cues result in different rates of acceptance of otherwise identical monetary offers. Study 1 found that participants accepted significantly more offers when they were cued with spatial close-ness than when they were cued with spatial distance. Study 2 replicated this effect using identical procedures but different spatial-distance cues in an independent sample. Importantly , our results could not be explained by feelings of social closeness. Our results demonstrate that mere perceptions of spatial closeness produce analogous–but independent– effects to those of social closeness.
We often make decisions with uncertain consequences. The outcomes of the choices we make are usua... more We often make decisions with uncertain consequences. The outcomes of the choices we make are usually not perfectly predictable but probabilistic, and the probabilities can be known or unknown. Probability judgments, i.e., the assessment of unknown probabilities, can be influenced by evoked emotional states. This suggests that also the weighting of known probabilities in decision making under risk might be influenced by incidental emotions, i.e., emotions unrelated to the judgments and decisions at issue. Probability weighting describes the transformation of probabilities into subjective decision weights for outcomes and is one of the central components of cumulative prospect theory (CPT) that determine risk attitudes. We hypothesized that music-evoked emotions would modulate risk attitudes in the gain domain and in particular probability weighting. Our experiment featured a within-subject design consisting of four conditions in separate sessions. In each condition, the 41 participants listened to a different kind of music—happy, sad, or no music, or sequences of random tones—and performed a repeated pairwise lottery choice task. We found that participants chose the riskier lotteries significantly more often in the “happy” than in the “sad” and “random tones” conditions. Via structural regressions based on CPT, we found that the observed changes in participants' choices can be attributed to changes in the elevation parameter of the probability weighting function: in the “happy” condition, participants showed significantly higher decision weights associated with the larger payoffs than in the “sad” and “random tones” conditions. Moreover, elevation correlated positively with self-reported music-evoked happiness. Thus, our experimental results provide evidence in favor of a causal effect of incidental happiness on risk attitudes that can be explained by changes in probability weighting.
Dual-process models of psychopathy postulate two etiologically relevant processes. Their involvem... more Dual-process models of psychopathy postulate two etiologically relevant processes. Their involvement in feedback processing and its neural correlates has not been investigated so far. Multi-channel EEG was collected while healthy female volunteers performed a time-estimation task and received negative or positive feedback in form of signs or emotional faces. The affective-interpersonal factor Fearless Dominance, but not Self-Centered Impulsivity, was associated with reduced feedback-related negativity (FRN) amplitudes. This neural dissociation extends previous findings on the impact of psychopathy on feedback processing and further highlights the importance of distinguishing psychopathic traits and extending previous (neuroscientific) models of psychopathy.
Uploads