Place your bets: Psychophysiological correlates of decision-making under risk

Cognitive, Affective and Behavioral Neuroscience

Volumn 11, Issue 2, 2011, Pages 144-158

  Studer, Bettina ^a   Clark, Luke ^a  

^a UK   (United Kingdom)

Author keywords

Decision making; Emotion; Personality; Psychophysiology; Risk

Indexed keywords

ADAPTIVE BEHAVIOR; ADULT; AROUSAL; ARTICLE; DECISION MAKING; ELECTRODERMAL RESPONSE; FEMALE; HEART RATE; HIGH RISK BEHAVIOR; HUMAN; IMPULSIVENESS; INDIVIDUALITY; MALE; PATHOLOGICAL GAMBLING; PATHOPHYSIOLOGY; PERSONALITY; PHYSIOLOGY; PSYCHOLOGICAL ASPECT;

ADULT; AROUSAL; DECISION MAKING; FEEDBACK, PSYCHOLOGICAL; FEMALE; GALVANIC SKIN RESPONSE; GAMBLING; HEART RATE; HUMANS; IMPULSIVE BEHAVIOR; INDIVIDUALITY; MALE; PERSONALITY; RISK-TAKING;

EID: 80051614567     PISSN: 15307026     EISSN: None     Source Type: Journal    
DOI: 10.3758/s13415-011-0025-2     Document Type: Article

References (99)

1. Barrett, L. F., & Lindquist, K. A. (2008). The embodiment of emotion. In G. R. Semin & E. R. Smith (Eds.), Embodied grounding: Social, cognitive, affective, and neuroscientific approaches (pp. 237-264). New York: Cambridge University Press.
2. Bechara, A., Damasio, H., & Damasio, A. R. (2000). Emotion, decision making and the orbitofrontal cortex. Cerebral Cortex, 10, 295-307. (Pubitemid 30159296)
3. Bechara, A., Damasio, H., Damasio, A. R., & Lee, G. P. (1999). Different contributions of the human amygdala and ventromedial prefrontal cortex to decision-making. The Journal of Neuroscience, 19, 5473-5481. (Pubitemid 29300212)
4. Bechara, A., Damasio, H., Tranel, D., & Damasio, A. R. (1997). Deciding advantageously before knowing the advantageous strategy. Science, 275, 1293-1295. doi:10.1126/science.275.5304.1293. (Pubitemid 27114154)
5. Bjork, J. M., Smith, A. R., & Hommer, D. W. (2008). Striatal sensitivity to reward deliveries and omissions in substance dependent patients. Neuroimage, 42, 1609-1621.
6. Blais, A.-R., & Weber, E. U. (2006). A Domain-Specific Risk-Taking (DOSPERT) Scale for adult populations. Judgment and Decision Making, 1, 33-47.
7. Bossaerts, P., & Plott, C. (2004). Basic principles of asset pricing theory: Evidence from large-scale experimental financial markets. Review of Finance, 8, 135-169. doi:10.1023/B:EUFI.0000035190.24818.e5. (Pubitemid 39363747)
8. Bradley, M. M. (2000). Emotion and motivation. In J. T. Cacioppo, L. G. Tassinary, & G. G. Berntson (Eds.), Handbook of psychophysiology (2nd ed., pp. 602-642). New York: Cambridge University Press.
9. Bradley, M. M. (2009). Natural selective attention: Orienting and emotion. Psychophysiology, 46, 1-11. doi:10.1111/j.1469-8986.2008.00702.x.
10. Bradley, M. M., Codispoti, M., Cuthbert, B. N., & Lang, P. J. (2001). Emotion and motivation I: Defensive and appetitive reactions in picture processing. Emotion, 1, 276-298. doi:10.1037/1528-3542.1.3.276.
11. Bradley, M. M., & Lang, P. J. (2007). Emotion and motivation. In J. T. Cacioppo, L. G. Tassinary, & G. G. Berntson (Eds.), Handbook of psychophysiology (3rd ed., pp. 581-607). New York: Cambridge University Press.
12. Brand, M., Labudda, K., & Markowitsch, H. J. (2006). Neuropsychological correlates of decision-making in ambiguous and risky situations. Neural Networks, 19, 1266-1276. (Pubitemid 44466330)
13. Buckholtz, J. W., Treadway, M. T., Cowan, R. L., Woodward, N. D., Li, R., Ansari, M. S., et al. (2010). Dopaminergic network differences in human impulsivity. Science, 329, 532. doi:10.1126/science.1185778.
14. Carter, S., & Pasqualini, M. C. S. (2004). Stronger autonomic response accompanies better learning: A test of Damasio's somatic marker hypothesis. Cognition and Emotion, 18, 901-911. (Pubitemid 39496842)
15. Carver, C. S., & White, T. L. (1994). Behavioral inhibition, behavioral activation, and affective responses to impending reward and punishment: The BIS/BAS Scales. Journal of Personality and Social Psychology, 67, 319-333. doi:10.1037/0022-3514.67.2.319.
16. Clark, L., Lawrence, A. J., Astley-Jones, F., & Gray, N. (2009). Gambling near-misses enhance motivation to gamble and recruit win-related brain circuitry. Neuron, 61, 481-490.
17. Cook, E. W., Hawk, L. W., Davis, T. L., & Stevenson, V. E. (1991). Affective individual differences and startle reflex modulation. Journal of Abnormal Psychology, 100, 5-13.
18. Coricelli, G., Critchley, H. D., Joffily, M., O'Doherty, J. P., Sirigu, A., & Dolan, R. J. (2005). Regret and its avoidance: a neuroimaging study of choice behavior. Nature Neuroscience, 8, 1255-1262. (Pubitemid 43348146)
19. Coricelli, G., Dolan, R. J., & Sirigu, A. (2007). Brain, emotion and decision making: The paradigmatic example of regret. Trends in Cognitive Sciences, 11, 258-265. (Pubitemid 46809557)
20. Craig, A. D. (2009). How do you feel - now? The anterior insula and human awareness. Nature Reviews. Neuroscience, 10, 59-70.
21. Craig, A. D. (2010). The sentient self. Brain Structure & Function, 214, 563-577. doi:10.1007/s00429-010-0248-y.
22. Craig, A. D., Chen, K., Bandy, D., & Reiman, E. M. (2000). Thermosensory activation of insular cortex. Nature Neuroscience, 3, 184-190. (Pubitemid 30126335)
23. Critchley, H. D. (2005). Neural mechanisms of autonomic, affective, and cognitive integration. The Journal of Comparative Neurology, 493, 154-166. doi:10.1002/cne.20749. (Pubitemid 41636198)
24. Critchley, H. D., Elliott, R., Mathias, C. J., & Dolan, R. J. (2000). Neural activity relating to generation and representation of galvanic skin conductance responses: A functional magnetic resonance imaging study. The Journal of Neuroscience, 20, 3033-3040. (Pubitemid 30220328)
25. Critchley, H. D., Mathias, C. J., & Dolan, R. J. (2001). Neural activity in the human brain relating to uncertainty and arousal during anticipation. Neuron, 29, 537-545. (Pubitemid 32206490)
26. Critchley, H. D., Mathias, C. J., Josephs, O., O'Doherty, J., Zanini, S., Dewar, B. K., et al. (2003). Human cingulate cortex and autonomic control: Converging neuroimaging and clinical evidence. Brain, 126, 2139-2152. doi:10.1093/brain/awg216. (Pubitemid 37432360)
27. Crone, E. A., Bunge, S. A., de Klerk, P., & van der Molen, M. W. (2005). Cardiac concomitants of performance monitoring: Context dependence and individual differences. Cognitive Brain Research, 23, 93-106. (Pubitemid 40417510)
28. Crone, E. A., Somsen, R. J. M., Van Beek, B., & Van der Molena, M. W. (2004). Heart rate and skin conductance analysis of antecendents and consequences of decision making. Psychophysiology, 41, 531-540. (Pubitemid 38879769)
29. Crone, E. A., van der Veen, F. M., van der Molen, M. W., Somsen, R. J. M., van Beek, B., & Jennings, J. R. (2003). Cardiac concomitants of feedback processing. Biological Psychology, 64, 143-156. (Pubitemid 37346142)
30. Damasio, A. R. (1994). Descartes' error: Emotion, reason and the human brain. New York: Grosset/Putamen.
31. Damasio, H., Bechara, A., & Damasio, A. R. (2002). Reply to "Do somatic markers mediate decisions on the gambling task?". Nature Neuroscience, 5, 1104-1104.
32. Damasio, A. R., Everitt, B. J., & Bishop, D. (1996). The somatic marker hypothesis and the possible functions of the prefrontal cortex [and discussion]. Philosophical Transactions of the Royal Society B, 351, 1413-1420. doi:10.1098/rstb.1996.0125. (Pubitemid 127738807)
33. Davis, D., Sundahl, I., & Lesbo, M. (2000). Illusory personal control as a determinant of bet size and type in casino craps games. Journal of Applied Social Psychology, 30, 1224-1242.
34. Dawson, M. E., Schell, A. M., & Filion, D. (2007). The electrodermal system. In J. T. Cacioppo, L. G. Tassinary, & G. G. Berntson (Eds.), Handbook of psychophysiology (3rd ed., p. 165). New York: Cambridge University Press.
35. Dixon, M. J., Harrigan, K. A., Sandhu, R., Collins, K., & Fugelsang, J. A. (2010). Losses disguised as wins in modern multi-line video slot machines. Addiction, 105, 1819-1824. doi:10.1111/j.1360-0443.2010.03050.x.
36. Dolan, R. J. (2002). Emotion, cognition, and behavior. Science, 298, 1191-1194. doi:10.1126/science.1076358. (Pubitemid 35285474)
37. Dunn, B. D., Dalgleish, T., & Lawrence, A. D. (2006). The somatic marker hypothesis: A critical evaluation. Neuroscience and Biobehavioral Reviews, 30, 239-271. (Pubitemid 41821811)
38. Forbush, K. T., Shaw, M., Graeber,M. A., Hovick, L., Meyer, V. J.,Moser, D. J., et al. (2008). Neuropsychological characteristics and personality traits in pathological gambling. CNS Spectrums, 13, 306-315. (Pubitemid 351656252)
39. Fowles, D. C., Christie, M. J., Edelberg, R., Grings, W. W., Lykken, D. T., & Venables, P. H. (1981). Publication recommendations for electrodermal measurements [Editorial material]. Psychophysiology, 18, 232-239. (Pubitemid 11107416)
40. Franken, I. H. A., van Strien, J. W., Nijs, I., & Muris, P. (2008). Impulsivity is associated with behavioral decision-making deficits. Psychiatry Research, 158, 155-163.
41. Gianaros, P. J., Van der Veen, F. M., & Jennings, J. R. (2004). Regional cerebral blood flow correlates with heart period and high-frequency heart period variability during working-memory tasks: Implications for the cortical and subcortical regulation of cardiac autonomic activity. Psychophysiology, 41, 521-530. doi:10.1111/1469-8986.2004.00179.x. (Pubitemid 38879768)
42. Goudriaan, A. E., Oosterlaan, J., de Beurs, E., & Van den Brink, W. (2004). Pathological gambling: A comprehensive review of biobehavioral findings. Neuroscience and Biobehavioral Reviews, 28, 123-141. (Pubitemid 38692361)
43. Graham, F. K.,&Clifton, R.K. (1966). Heart-rate change as a component of the orienting response. Psychological Bulletin, 65, 305-320.
44. Guillaume, S., Jollant, F., Jaussent, I., Lawrence, N., Malafosse, A., & Courtet, P. (2009). Somatic markers and explicit knowledge are both involved in decision-making. Neuropsychologia, 47, 2120-2124.
45. Hahn, T., Dresler, T., Ehlis, A.-C., Plichta, M. M., Heinzel, S., Polak, T., et al. (2009). Neural response to reward anticipation is modulated by Gray's impulsivity. Neuroimage, 46, 1148-1153.
46. Hajcak, G., McDonald, N., & Simons, R. F. (2004). Error-related psychophysiology and negative affect. Brain and Cognition, 56, 189-197. (Pubitemid 39423881)
47. Henslin, J. M. (1967). Craps and magic. The American Journal of Sociology, 73, 316-330. doi:10.1086/224479.
48. Hodes, R. L., Cook, E. W., III, & Lang, P. J. (1985). Individual differences in autonomic response: conditioned association or conditioned fear? Psychophysiology, 22, 545-560. (Pubitemid 15015446)
49. Holt, C. A., & Laury, S. K. (2002). Risk aversion and incentive effects. The American Economic Review, 92, 1644-1655.
50. Huettel, S. A., Song, A. W., & McCarthy, G. (2005). Decisions under uncertainty: Probabilistic context influences activation of prefrontal and parietal cortices. The Journal of Neuroscience, 25, 3304-3311. doi:10.1523/jneurosci.5070-04.2005. (Pubitemid 40471339)
51. Huettel, S. A., Stowe, C. J., Gordon, E. M., Warner, B. T., & Platt, M. L. (2006). Neural signatures of economic preferences for risk and ambiguity. Neuron, 49, 765-775. (Pubitemid 43290135)
52. Kenning, P.,&Plassmann, H. (2005). NeuroEconomics: An overview from an economic perspective. Brain Research Bulletin, 67, 343-354. (Pubitemid 41416749)
53. Kim, S. W., & Grant, J. E. (2001). Personality dimensions in pathological gambling disorder and obsessive-compulsive disorder. Psychiatry Research, 104, 205-212. (Pubitemid 33135501)
54. Lacey, J. I. (1967). Somatic response patterning and stress: Some revisions of activation theory. In M. H. Appley & R. Trumbull (Eds.), Psychological stress: Issues in research (pp. 14-38). New York: Appleton-Century-Crofts.
55. Ladouceur, R., & Mayrand, M. (1987). The level of involvement and the timing of betting in roulette. Journal of Psychology: Interdisciplinary and Applied, 121, 169-176.
56. Lang, P. J. (1995). The emotion probe: Studies of motivation and attention. The American Psychologist, 50, 372-385. doi:10.1037/0003-066x.50.5. 372.
57. Lang, P. J., Bradley, M. M., & Cuthbert, M. M. (1997). Motivated attention: Affect, activation and action. In P. J. Lang, R. F. Simons, & M. T. Balaban (Eds.), Attention and orienting: Sensory and motivational processes (pp. 97-136). Mahwah: Erlbaum.
58. Lang, P. J., & Davis, M. (2006). Emotion, motivation, and the brain: Reflex foundations in animal and human research. Progress in Brain Research, 156, 3-29. (Pubitemid 44466038)
59. Langer, E. J. (1975). The illusion of control. Journal of Personality and Social Psychology, 32, 311-328. doi:10.1037/0022-3514.32.2.311.
60. Lawrence, A., Luty, J., Bogdan, N., Sahakian, B., & Clark, L. (2009). Impulsivity and response inhibition in alcohol dependence and problem gambling. Psychopharmacology, 207, 163-172.
61. Lee, D. (2006). Neural basis of quasi-rational decision making. Current Opinion in Neurobiology, 16, 191-198.
62. Liao, P.-C., Uher, R., Lawrence, N., Treasure, J., Schmidt, U., Campbell, I. C., et al. (2009). An examination of decision making in bulimia nervosa. Journal of Clinical and Experimental Neuropsychology, 31, 455-461.
63. Lichtenstein, S., & Slovic, P. (1971). Reversals of preference between bids and choices in gambling decisions. Journal of Experimental Psychology, 89, 46-55.
64. Loewenstein, G. F., Weber, E. U., Hsee, C. K., & Welch, N. (2001). Risk as feelings. Psychological Bulletin, 127, 267-286. (Pubitemid 33696171)
65. Miu, A. C., Heilman, R. M., & Houser, D. (2008). Anxiety impairs decision-making: Psychophysiological evidence from an Iowa Gambling Task. Biological Psychology, 77, 353-358.
66. Moors, A. (2009). Theories of emotion causation: A review. Cognition and Emotion, 23, 625-662.
67. Niedenthal, P. M. (2007). Embodying emotion. Science, 316, 1002-1005. doi:10.1126/science.1136930. (Pubitemid 46799482)
68. Niedenthal, P. M., Barsalou, L. W., Winkielman, P., Krauth-Gruber, S., & Ric, F. O. (2005). Embodiment in attitudes, social perception, and emotion. Personality and Social Psychology Review, 9, 184-211. (Pubitemid 41356682)
69. Nordin, C., & Nylander, P.-O. (2007). Temperament and character in pathological gambling. Journal of Gambling Studies, 23, 113-120.
70. O'Doherty, J., Dayan, P., Schultz, J., Deichmann, R., Friston, K., & Dolan, R. J. (2004). Dissociable roles of ventral and dorsal striatum in instrumental conditioning. Science, 304, 452-454. doi:10.1126/science.1094285. (Pubitemid 38495943)
71. Ohira, H., Ichikawa, N., Nomura, M., Isowa, T., Kimura, K., Kanayama, N., et al. (2010). Brain and autonomic association accompanying stochastic decision-making. Neuroimage, 49, 1024-1037.
72. Osumi, T., & Ohira, H. (2009). Cardiac responses predict decisions: An investigation of the relation between orienting response and decisions in the ultimatum game. International Journal of Psychophysiology, 74, 74-79.
73. Patton, J. H., Stanford, M. S., & Barratt, E. S. (1995). Factor structure of the Barratt impulsiveness scale. Journal of Clinical Psychology, 51, 768-774. (Pubitemid 26021724)
74. Platt, M. L., & Huettel, S. A. (2008). Risky business: the neuroeconomics of decision making under uncertainty. Nature Neuroscience, 11, 398-403. (Pubitemid 351441878)
75. Preuschoff, K., Bossaerts, P., & Quartz, S. R. (2006). Neural differentiation of expected reward and risk in human subcortical structures. Neuron, 51, 381-390. (Pubitemid 44160540)
76. Preuschoff, K., Quartz, S. R., & Bossaerts, P. (2008). Human insula activation reflects risk prediction errors as well as risk. The Journal of Neuroscience, 28, 2745-2752. doi:10.1523/jneurosci.4286-07.2008. (Pubitemid 351398874)
77. Rao, H., Korczykowski, M., Pluta, J., Hoang, A., & Detre, J. A. (2008). Neural correlates of voluntary and involuntary risk taking in the human brain: An fMRI study of the balloon analog risk task (BART). Neuroimage, 42, 902-910.
78. Slovic, P., Finucane, M. L., Peters, E., & MacGregor, D. G. (2007). The affect heuristic. European Journal of Operational Research, 177, 1333-1352. (Pubitemid 44709428)
79. Slovic, P., & Lichtenstein, S. (1968). Relative importance of probabilities and payoffs in risk taking. Journal of Experimental Psychology, 78, 1-18.
80. Slutske, W. S., Caspi, A., Moffitt, T. E., & Poulton, R. (2005). Personality and problem gambling: A prospective study of a birth cohort of young adults. Archives of General Psychiatry, 62, 769-775. doi:10.1001/archpsyc.62.7. 769. (Pubitemid 41002759)
81. Smith, B. W., Mitchell, D. G. V., Hardin, M. G., Jazbec, S., Fridberg, D., Blair, R. J. R., et al. (2009). Neural substrates of reward magnitude, probability, and risk during a wheel of fortune decision-making task. Neuroimage, 44, 600-609.
82. Somsen, R. J. M., Van derMolen,M. W., Jennings, J. R., & van Beek, B. (2000). Wisconsin card sorting in adolescents: Analysis of performance, response times and heart rate. Acta Psychologica, 104, 227-257.
83. Somsen, R. J. M., Van der Molen, M. W., & Orlebeke, J. F. (1983). Phasic heart rate changes in reaction time, shock avoidance, and unavoidable shock tasks: Are hypothetical generalizations about different S1-S2 tasks justified? Psychophysiology, 20, 88-94. (Pubitemid 13224570)
84. Starcke, K., Tuschen-Caffier, B., Markowitsch, H.-J., & Brand, M. (2009). Skin conductance responses during decisions in ambiguous and risky situations in obsessive-compulsive disorder. Cognitive Neuropsychiatry, 14, 199-216.
85. Sweitzer, M. M., Allen, P. A., & Kaut, K. P. (2008). Relation of individual differences in impulsivity to nonclinical emotional decision making. Journal of the International Neuropsychological Society, 14, 878-882. doi:10.1017/S1355617708080934.
86. Tchanturia, K., Liao, P.-C., Uher, R., Lawrence, N., Treasure, J., & Campbell, I. C. (2007). An investigation of decision making in anorexia nervosa using the Iowa Gambling Task and skin conductance measurements. Journal of the International Neuropsychological Society, 13, 635-641. doi:10.1017/ S1355617707070798. (Pubitemid 350017936)
87. Thayer, J. F., & Lane, R. D. (2009). Claude Bernard and the heartbrain connection: Further elaboration of a model of neurovisceral integration. Neuroscience and Biobehavioral Reviews, 33, 81-88.
88. Tobler, P. N., Christopoulos, G. I., O'Doherty, J. P., Dolan, R. J., & Schultz, W. (2009). Risk-dependent reward value signal in human prefrontal cortex. Proceedings of the National Academy of Sciences, 106, 7185-7190. doi:10.1073/pnas.0809599106.
89. Tomb, I., Hauser, M., Deldin, P., & Caramazza, A. (2002). Do somatic markers mediate decisions on the gambling task? Nature Neuroscience, 5, 1103-1104. (Pubitemid 35247160)
90. Tricomi, E. M., Delgado, M. R., & Fiez, J. A. (2004). Modulation of caudate activity by action contingency. Neuron, 41, 281-292. (Pubitemid 38125188)
91. Van der Veen, F. M., Van der Molen, M. W., Crone, E. A., & Jennings, J. R. (2004). Phasic heart rate responses to performance feedback in a time production task: effects of information versus valence. Biological Psychology, 65, 147-161. (Pubitemid 38050149)
92. Verdejo-García, A., Lawrence, A. J., & Clark, L. (2008). Impulsivity as a vulnerability marker for substance-use disorders: Review of findings from high-risk research, problem gamblers and genetic association studies. Neuroscience and Biobehavioral Reviews, 32, 777-810.
93. Vitaro, F., Arseneault, L., & Tremblay, R. E. (1999). Impulsivity predicts problem gambling in low SES adolescent males. Addiction, 94, 565-575. doi:10.1046/j.1360-0443.1999.94456511.x. (Pubitemid 29179127)
94. Vorhold, V. (2008). The neuronal substrate of risky choice. Annals of the New York Academy of Sciences, 1128, 41-52.
95. Walton, M. E., Croxson, P. L., Behrens, T. E. J., Kennerley, S. W., & Rushworth, M. F. S. (2007). Adaptive decision making and value in the anterior cingulate cortex. Neuroimage, 36(Suppl. 2), T142-T154. (Pubitemid 46702736)
96. Wilkes, B. L., Gonsalvez, C. J.,& Blaszczynski, A. (2010). Capturing SCL and HR changes to win and loss events during gambling on electronic machines. International Journal of Psychophysiology, 78, 265-272.
97. Xue, G., Lu, Z., Levin, I. P., Weller, J. A., Li, X., & Bechara, A. (2009). Functional dissociations of risk and reward processing in the medial prefrontal cortex. Cerebral Cortex, 19, 1019-1027. doi:10.1093/cercor/bhn147.
98. Zink, C. F., Pagnoni, G., Martin-Skurski, M. E., Chappelow, J. C., & Berns, G. S. (2004). Human striatal responses to monetary reward depend on saliency. Neuron, 42, 509-517. (Pubitemid 38610148)
99. Zuckerman, M., Eysenck, S. B., & Eysenck, H. J. (1978). Sensation seeking in England and America: Cross-cultural, age, and sex comparisons. Journal of Consulting and Clinical Psychology, 46, 139-149. doi:10.1037/0022- 006x.46.1.139. (Pubitemid 8298851)