Das, M and Roy, D (2018) Distinct neurobehavioral mechanisms for expectancy violation and value updating. The Journal of Neuroscience, 38 (1). pp. 26-28.

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Abstract

Decision making has utmost importance in our daily social lives and has been studied across varied fields, such as psychology, neuroscience, economics, management, and machine learning. One of the fundamental aspects of decision making is that the actions are chosen based on the expected value of their outcome. In most theoretical accounts of decision making, value is assumed to be updated primarily based on the discrepancy between the expected and the actual outcome of the behavior (Dayan and Niv, 2008). However, in the real world, the process of updating is much more flexible. It depends on, among other things, the nature of uncertainty. Uncertainty can refer to risk, which is present when there are multiple possible outcomes whose probability distribution is well defined. Uncertainty can also refer to ambiguity when the probabilities of the possible outcomes are unknown or not estimable (Ellsberg, 1961). The two conditions may have different implications for the process of value updating. For instance, when you do not know whether a coin is fair or not, example of an ambiguous condition, 10 heads in a row would make you suspect that it is not, and it would make sense to predict that the next toss will result in a head. But when tossing a fair coin, the odds of getting a head do not change even after 10 heads in a row, so logically your expectations about the result of the coin should not change. In a recent study, Kobayashi and Hsu (2017) delved further into the neurobehavioral distinction between expectancy violation and value updating using behavioral and neuroimaging techniques.

Item Type:	Article
Subjects:	Neurodegenerative Disorders Neuro-Oncological Disorders Neurocognitive Processes Neuronal Development and Regeneration Informatics and Imaging Genetics and Molecular Biology
Depositing User:	Dr. D.D. Lal
Date Deposited:	10 Aug 2018 06:34
Last Modified:	12 Mar 2020 06:23
URI:	http://nbrc.sciencecentral.in/id/eprint/426

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