An argument against dual valuation system competition: cognitive capacities supporting future orientation mediate rather than compete with visceral motivations

Journal of Neuroscience, Psychology, and Economics

Volumn 3, Issue 1, 2010, Pages 1-14

  Monterosso, John R ^a   Luo, Shan ^a  

^a UNIVERSITY OF SOUTHERN CALIFORNIA   (United States)

Author keywords

Delay discounting; Neuroeconomics; Self control; Self signaling

Indexed keywords

ARTICLE; BRAIN CORTEX; BRAIN FUNCTION; COGNITION; CONTINGENT VALUATION; DECISION MAKING; FUNCTIONAL MAGNETIC RESONANCE IMAGING; HUMAN; IMPULSIVENESS; MENTAL CAPACITY; MENTAL PERFORMANCE; MOTIVATION; NEUROIMAGING; ORIENTING RESPONSE; PROCESS MODEL; REWARD; SELECTIVE ATTENTION; SELF CONTROL;

EID: 77953052588     PISSN: 1937321X     EISSN: None     Source Type: Journal    
DOI: 10.1037/a0016827     Document Type: Article

References (65)

1. Ainslie G. Impulsive control in pigeons. Journal of the Experimental Analysis of Behavior 1974, 21:485-489.
2. Ainslie G. Specious reward: A behavioral theory of impulsiveness and impulsive control. Psychological Bulletin 1975, 82:463-496.
3. Ainslie G. Picoeconomics 1992, Cambridge University Press, New York.
4. Ainslie G. Breakdown of will 2001, Cambridge University Press, New York.
5. Ainslie G., Monterosso J. Hyperbolic discounting as a factor in addiction: A critical analysis. Choice, behavioral economics, and addiction 2003, 35-69. Elsevier, Oxford, England. R. Vuchinich, N. Heather (Eds.).
6. Ainslie G., Monterosso J. Will as intertemporal bargaining: Implications for rationality. University of Pennsylvania Law Review 2003, 151:825-862.
7. Ainslie G., Monterosso J. A marketplace in the Brain?. Science 2004, 306:421-423.
8. Aristotle The complete works of Aristotle 1984, Princeton University Press, Princeton.
9. Arrow K. Alternative approaches to the theory of choice in risk-taking situations. Econometrica 1951, 19:404-437.
10. Ballard K., Knutson B. Dissociable neural representations of future reward magnitude and delay during temporal discounting. NeuroImage 2009, 45:143-150.
11. Baumeister R.F., Heatherton T.F. Self-regulation failure: An overview. Psychological Inquiry 1996, 7:1-15.
12. Baumeister R.F., Vohs K., Tice D. The strength model of self-control. Current Directions in Psychological Science 2007, 16:351-355.
13. Bechara A., Damasio A.R., Damasio H. Insensitivity to future consequences following damage to human prefrontal cortex. Cognition 1994, 50:7-15.
14. Bechara A., Damasio H., Tranel D., Damasio A.R. Deciding advantageously before knowing the advantageous strategy. Science 1997, 275:1293-1295.
15. Becker G.S. The economic approach to human behavior 1976, University of Chicago Press, Chicago.
16. Becker G.S., Murphy K.M. A theory of rational addiction. The Journal of Political Economy 1988, 96:675-700.
17. Benabou R., Tirole J. Will-power and personal rules. Journal of Political Economy 2004, 112:848-886.
18. Bodner R., Prelec D. Self-signaling and diagnostic utility in everyday decision making. Psychological of economic decisions (Vol. 1: Rationality and well-being 2003, Oxford University Press, Oxford, England. I. Brocas, J.D. Carrillo (Eds.).
19. Boettiger C., Mitchell J., Tavares V., Robertson M., Joslyn G., D'Esposito M., et al. Immediate reward bias in humans: Fronto-parietal networks and a role for the Catechol-O-Methyltransferase, 158. Val/Val Genotype. The Journal of Neuroscience 2007, 27:14383-14391.
20. Bourdieu P. The forms of capital. Handbook of theory and research for the sociology of education 1986, Greenwood Press, New York. J. Richardson (Ed.).
21. Breiter H.C., Aharon I., Kahneman D., Dale A., Shizgal P. Functional imaging of neural responses to expectancy and experience of monetary gains and losses. Neuron 2001, 30:619-639.
22. Chapman G.B. Temporal discounting and utility for health and money. Journal of Experimental Psychology: Learning, Memory, and Cognition 1996, 22:771-791.
23. Chapman G.B. Preferences for improving and declining sequences of health outcomes. Journal of Behavioral Decision Making 2000, 13:203-218.
24. Damasio A.R. Descartes' error: Emotion, reason, and the human brain 1994, GP Putnam's Sons, New York.
25. Edwards W. Probability-preferences in gambling. The American Journal of Psychology 1953, 66:349-364.
26. Ersner-Hershfield H., Wimmer G.E., Knutson B. Saving for the future self: Neural measures of future self-continuity predict temporal discounting. Social Cognitive and Affective Neuroscience 2008, 4:85-92.
27. Evans J.S.B.T. Dual-processing accounts of reasoning, judgment, and social cognition. Annual Review of Psychology 2008, 59:255-278.
28. Frederick S. Time discounting and time preference: A critical review. Journal of Economic Literature 2002, 40:351-401.
29. Friedman M. Windfalls, the " horizon," and related concepts in the permanent-income hypothesis. Measurement in economics 1963, Stanford University Press, Stanford, CA.
30. Friedman M. Essays in positive economics 1971, University of Chicago Press, Chicago.
31. Goldstein R.Z., Volkow N.D. Drug addiction and its underlying neurobiological basis: Neuroimaging evidence for the involvement of the frontal cortex. American Journal of Psychiatry 2002, 159:1642-1652.
32. Green L., Myerson J. A discounting framework for choice with delayed and probabilistic rewards. Psychological Bulletin 2004, 130:769-792.
33. Hare, T., Camerer, C., & Rangel, A. (in press). Self-control in decision-making involves modulation of the vmPFC valuation system. Science.
34. Hariri A., Brown S., Williamson D., Flory J., Wit H., Manuck S. Preference for immediate over delayed rewards is associated with magnitude of ventral striatal activity. The journal of Neuroscience 2006, 26:13213-13217.
35. Jevons W. A theory of political economy 1871, Macmillan and Co, London.
36. Kable J., Glimcher P. The neural correlates of subjective value during intertemporal choice. Nature Neuroscience 2007, 10:1625-1633.
37. Kahneman D., Tvesky A. Prospect theory: An analysis of decision under Risk. Econometrica 1979, 47:263-291.
38. Laibson D.I. Golden eggs and hyperbolic discounting. Quarterly Journal of Economics 1997, 112:443-477.
39. Lamy M. For juice or money. The Journal of Neuroscience 2007, 27:12121-12122.
40. Loewenstein G. Frames of mind in intertemporal choice. Management Science 1988, 34:200-214.
41. Loewenstein G. Out of control: Visceral influences on behavior. Organizational Behavior and Human Decision Processes 1996, 65:272-292.
42. Loewenstein G., Prelec D. Anomalies in intertemporal choice: Evidence and an interpretation. The Quarterly Journal of Economics 1992, 107:573-597.
43. McClure S., Ericson K., Laibson D., Loewenstein G., Cohen J. Time discounting for primary rewards [Behavioral/Systems/Cognitive]. Journal of Neuroscience 2007, 27:5796-5804.
44. McClure S., Laibson D., Loewenstein G., Cohen J. Separate neural systems value immediate and delayed monetary rewards. Science 2004, 306:503-507.
45. Metcalfe J., Mischel W. A hot/cool-system analysis of delay of gratification: Dynamics of willpower. Psychological Review 1999, 106:3-19.
46. Montague P.R., Berns G.S. Neural economics and the biological substrates of valuation. Neuron 2002, 36:265-284.
47. Monterosso J., Ainslie G. Beyond discounting: Possible experimental models of impulse control. Psychopharmacology 1999, 146:339-347.
48. Monterosso J., Ainslie G., Xu J., Cordova X., Domier C., London E. Frontoparietal cortical activity of methamphetamine-dependent and comparison subjects performing a parametric delay-discounting task. Human Brain Mapping 2007, 28:383-393.
49. Nevin J.A., Grace R.C. Behavioral momentum and the law of effect. Behavioral and Brain Sciences 2000, 23:73-130.
50. Rachlin H. Self-control: Beyond commitment. Behavioral and Brain Sciences 1995, 18:109-159.
51. Rachlin H. The science of self-control 2000, Harvard University Press, Cambridge, MA.
52. Restak R. The brain 1984, Bantam Books, New York.
53. Roelofsma P.H.M.P., Read D. Intransitive intertemporal choice. Journal of Behavioral Decision Making 2000, 13:161-177.
54. Ross D. Economic theory and cognitive science: Microexplanation 2005, MIT Press, Cambridge, MA.
55. Ross, D. (in press). Economic models of pathological gambling in " What is addiction." Cambridge, MA: MIT Press.
56. Schelling T. Economics or the art of self-management. American Economic Review 1978, 68:290-294.
57. Schelling T. The intimate contest for self-command. Public Interest 1980, 60:94-118.
58. Schelling T. Self-command in practice, in policy, and in a theory of rational choice. American Economic Review 1984, 74:1-11.
59. Shamosh N., DeYoung C., Green A., Reis D., Johnson M., Conway A., et al. Individual differences in delay discounting. Psychological Science 2008, 19:904-911.
60. Shefrin H.M., Thaler R. Mental accounting, saving and self-control. Choice over time 1992, 287-329. Russell Sage Foundation, New York. J. Elster, G. Loewenstein (Eds.).
61. Simon H. Motivational and emotional controls of cognition. Psychological Review 1967, 74:29-39.
62. Strotz R. Myopia and inconsistency in dynamic utility maximization. Review of Economic Studies 1956, 23:165-180.
63. Thaler R. Toward a positive theory of consume choice. Journal of Economic Behavior and Organization 1980, 1:39-60.
64. William J. The principles of psychology 1890, H. Holt and Company, New York.
65. Wittmann M., Leland D., Paulus M. Time and decision making: Differential contribution of the posterior insular cortex and the striatum during a delay discounting task. Experimental Brain Research 2007, 179:643-653.