IDEAS home Printed from https://ideas.repec.org/a/eee/joepsy/v31y2010i5p767-776.html
   My bibliography  Save this article

The somatic marker framework as a neurological theory of decision-making: Review, conceptual comparisons, and future neuroeconomics research

Author

Listed:
  • Reimann, Martin
  • Bechara, Antoine

Abstract

A great deal of contemporary decision research in economics, business, psychology, and neuroscience now accepts the idea that emotions play a significant role in decision-making. Almost 20 years ago, insights from studies on brain lesion patients set the cornerstone for this stream of research and led to the formulation of the somatic marker hypothesis. Despite some debate, the somatic marker framework is still providing a unique neuroanatomical and cognitive framework that helps explain the role of emotion in decision-making. In this article, we review the neurological background, core mechanisms, and critiques of the somatic marker theory, put into perspective conceptually related approaches that link emotion to decision-making, and present an outlook for future neuroeconomics research.

Suggested Citation

  • Reimann, Martin & Bechara, Antoine, 2010. "The somatic marker framework as a neurological theory of decision-making: Review, conceptual comparisons, and future neuroeconomics research," Journal of Economic Psychology, Elsevier, vol. 31(5), pages 767-776, October.
    • Handle: RePEc:eee:joepsy:v:31:y:2010:i:5:p:767-776
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S0167-4870(10)00025-5
    Download Restriction: Full text for ScienceDirect subscribers only
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Knutson, Brian & Wimmer, G. Elliott & Kuhnen, Camelia & Winkielman, Piotr, 2008. "Nucleus accumbens activation mediates the influence of reward cues on financial risk-taking," MPRA Paper 8013, University Library of Munich, Germany.
    2. Bechara, Antoine & Damasio, Antonio R., 2005. "The somatic marker hypothesis: A neural theory of economic decision," Games and Economic Behavior, Elsevier, vol. 52(2), pages 336-372, August.
    3. Mathias Pessiglione & Ben Seymour & Guillaume Flandin & Raymond J. Dolan & Chris D. Frith, 2006. "Dopamine-dependent prediction errors underpin reward-seeking behaviour in humans," Nature, Nature, vol. 442(7106), pages 1042-1045, August.
    4. Dr. Peter Kenning & Hilke Plassmann, 2004. "NeuroEconomics," Experimental 0412005, University Library of Munich, Germany.
    5. Camelia Kuhnen & Brian Knutson, 2005. "The Neural Basis of Financial Risk Taking," Experimental 0509001, University Library of Munich, Germany.
    6. Baba Shiv & Antoine Bechara & Irwin Levin & Joseph Alba & James Bettman & Laurette Dube & Alice Isen & Barbara Mellers & Ale Smidts & Susan Grant & A. Mcgraw, 2005. "Decision Neuroscience," Marketing Letters, Springer, vol. 16(3), pages 375-386, December.
    7. Hansen, Flemming, 2005. "Distinguishing between feelings and emotions in understanding communication effects," Journal of Business Research, Elsevier, vol. 58(10), pages 1426-1436, October.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Witt, Ulrich & Binder, Martin, 2013. "Disentangling motivational and experiential aspects of “utility” – A neuroeconomics perspective," Journal of Economic Psychology, Elsevier, vol. 36(C), pages 27-40.
    2. Berčík, Jakub & Horská, Elena & Wang, W.Y. Regina & Chen, Ying-Chun, 2015. "How can food retailing benefit from neuromarketing research: a case of various parameters of store illumination and consumer response," 143rd Joint EAAE/AAEA Seminar, March 25-27, 2015, Naples, Italy 202714, European Association of Agricultural Economists.
    3. Solnais, Céline & Andreu-Perez, Javier & Sánchez-Fernández, Juan & Andréu-Abela, Jaime, 2013. "The contribution of neuroscience to consumer research: A conceptual framework and empirical review," Journal of Economic Psychology, Elsevier, vol. 36(C), pages 68-81.
    4. Martin Reimann & Raquel Castaño & Judith Zaichkowsky & Antoine Bechara, 2012. "Novel versus familiar brands: An analysis of neurophysiology, response latency, and choice," Marketing Letters, Springer, vol. 23(3), pages 745-759, September.
    5. Lucarelli, Caterina & Uberti, Pierpaolo & Brighetti, Gianni & Maggi, Mario, 2015. "Risky choices and emotion-based learning," Journal of Economic Psychology, Elsevier, vol. 49(C), pages 59-73.
    6. Nenita B. Nagarit, DBA & Susana C. Bautista, EdD & Ferdinand C. Somido, PhD & Pedrito Jose V. Bermudo, PhD & Antonio D.Yango, PhD & Leomar S. Galicia, PhD, 2018. "Transforming Online Negative Blogs in the Use of Credit Cards in Electronics Transactions into Constructive Action: Basis of Creating Business Spend Analyzer Model," Journal of Business & Management (COES&RJ-JBM), , vol. 6(1), pages 66-83, January.
    7. Daniel Serra, 2021. "Decision-making: from neuroscience to neuroeconomics—an overview," Theory and Decision, Springer, vol. 91(1), pages 1-80, July.
    8. Herrmann-Pillath Carsten, 2014. "Naturalizing Institutions: Evolutionary Principles and Application on the Case of Money," Journal of Economics and Statistics (Jahrbuecher fuer Nationaloekonomie und Statistik), De Gruyter, vol. 234(2-3), pages 388-421, April.
    9. Jiachen Nan, 2021. "The General Financial Education in China: Evidence From Ratio of Undergraduate Financial Education Majors in Universities," Technium Social Sciences Journal, Technium Science, vol. 24(1), pages 302-316, October.
    10. Daniel Serra, 2019. "Neuroeconomics and modern neuroscience," CEE-M Working Papers halshs-02160907, CEE-M, Universtiy of Montpellier, CNRS, INRA, Montpellier SupAgro.
    11. Gian Seloni & Sri Kusrohmaniah & Galang Lufityanto, 2023. "The perils of acting rashly: Risk-taking propensity impeding emotion-based learning in entrepreneurs [Les dangers de l’audace: La propension à prendre des risques entrave l’apprentissage basé sur l," Journal of International Entrepreneurship, Springer, vol. 21(1), pages 89-110, March.
    12. Sebastian Lehmann & Martin Reimann, 2012. "The influence of time and money on product evaluations - a neurophysiological analysis," FEMM Working Papers 120011, Otto-von-Guericke University Magdeburg, Faculty of Economics and Management.
    13. repec:thr:techub:10024:y:2021:i:1:p:302-316 is not listed on IDEAS
    14. Ladeira, Wagner Junior & Dalmoro, Marlon & de Oliveira Santini, Fernando & Ruffatto, Juliane & Zanoni, Roberto, 2021. "More bodily motor action, less visual attention: How supermarket stimuli and consumer-related factors influence gaze behavior," Journal of Retailing and Consumer Services, Elsevier, vol. 59(C).
    15. Ahmed H. Alsharif & Nor Zafir Md Salleh & Rohaizat Baharun & Alharthi Rami Hashem E & Aida Azlina Mansor & Javed Ali & Alhamzah F. Abbas, 2021. "Neuroimaging Techniques in Advertising Research: Main Applications, Development, and Brain Regions and Processes," Sustainability, MDPI, vol. 13(11), pages 1-25, June.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Daniel Serra, 2021. "Decision-making: from neuroscience to neuroeconomics—an overview," Theory and Decision, Springer, vol. 91(1), pages 1-80, July.
    2. Brice Corgnet & Camille Cornand & Nobuyuki Hanaki, 2020. "Negative Tail Events, Emotions & Risk Taking," Working Papers 2016, Groupe d'Analyse et de Théorie Economique Lyon St-Étienne (GATE Lyon St-Étienne), Université de Lyon.
    3. Daniel Serra, 2019. "Neuroeconomics and modern neuroscience," CEE-M Working Papers halshs-02160907, CEE-M, Universtiy of Montpellier, CNRS, INRA, Montpellier SupAgro.
    4. George I. Christopoulos & Xiao-Xiao Liu & Ying-yi Hong, 2017. "Toward an Understanding of Dynamic Moral Decision Making: Model-Free and Model-Based Learning," Journal of Business Ethics, Springer, vol. 144(4), pages 699-715, September.
    5. Kuhnen, Camelia M. & Knutson, Brian, 2011. "The Influence of Affect on Beliefs, Preferences, and Financial Decisions," Journal of Financial and Quantitative Analysis, Cambridge University Press, vol. 46(3), pages 605-626, June.
    6. Brice Corgnet & Camille Cornand & Nobuyuki Hanaki, 2020. "Tail events, emotions and risk taking," Working Papers halshs-02613344, HAL.
    7. Cary Frydman & Nicholas Barberis & Colin Camerer & Peter Bossaerts & Antonio Rangel, 2012. "Using Neural Data to Test a Theory of Investor Behavior: An Application to Realization Utility," NBER Working Papers 18562, National Bureau of Economic Research, Inc.
    8. Guiso, Luigi & Sapienza, Paola & Zingales, Luigi, 2018. "Time varying risk aversion," Journal of Financial Economics, Elsevier, vol. 128(3), pages 403-421.
    9. Rubén Ortuño & José M. Sánchez & Diego Álvarez & Miguel López & Fernando León, 2020. "Neurometrics applied to banknote and security features design," Occasional Papers 2008, Banco de España.
    10. Sophie Massin, 2011. "La notion d'addiction en économie : La théorie du choix rationnel à l'épreuve," Revue d'économie politique, Dalloz, vol. 121(5), pages 713-750.
    11. Anum Khan & Muhammad Shujaat Mubarik, 2022. "Measuring the role of neurotransmitters in investment decision: A proposed constructs," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 27(1), pages 258-274, January.
    12. Hytönen, Kaisa & Baltussen, Guido & van den Assem, Martijn J. & Klucharev, Vasily & Sanfey, Alan G. & Smidts, Ale, 2014. "Path dependence in risky choice: Affective and deliberative processes in brain and behavior," Journal of Economic Behavior & Organization, Elsevier, vol. 107(PB), pages 566-581.
    13. Bach, Norbert & Sterner, Madlen, 2011. "Implikationen neuroökonomischer Erkenntnisse für das Employer Branding [Implications of neuroeconomic findings for Employer Branding]," Ilmenauer Schriften zur Betriebswirtschaftslehre, Technische Universität Ilmenau, Institut für Betriebswirtschaftslehre, volume 5, number 52011.
    14. Berrada, Tony & Detemple, Jérôme & Rindisbacher, Marcel, 2018. "Asset pricing with beliefs-dependent risk aversion and learning," Journal of Financial Economics, Elsevier, vol. 128(3), pages 504-534.
    15. Annabel B Losecaat Vermeer & Alan G Sanfey, 2015. "The Effect of Positive and Negative Feedback on Risk-Taking across Different Contexts," PLOS ONE, Public Library of Science, vol. 10(9), pages 1-13, September.
    16. Necker, Sarah & Ziegelmeyer, Michael, 2016. "Household risk taking after the financial crisis," The Quarterly Review of Economics and Finance, Elsevier, vol. 59(C), pages 141-160.
    17. Mihai Țichindelean & Monica Teodora Țichindelean & Iuliana Cetină & Gheorghe Orzan, 2021. "A Comparative Eye Tracking Study of Usability—Towards Sustainable Web Design," Sustainability, MDPI, vol. 13(18), pages 1-31, September.
    18. Ming Lui & Ming Hsu, 2018. "Viewing sexual images is associated with reduced physiological arousal response to gambling loss," PLOS ONE, Public Library of Science, vol. 13(4), pages 1-14, April.
    19. John A Clithero & Dharol Tankersley & Scott A Huettel, 2008. "Foundations of Neuroeconomics: From Philosophy to Practice," PLOS Biology, Public Library of Science, vol. 6(11), pages 1-6, November.
    20. Jonas Fooken & Markus Schaffner, 2013. "The role of psychological and physiological factors in decision making under risk and in a dilemma," QuBE Working Papers 010, QUT Business School.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:joepsy:v:31:y:2010:i:5:p:767-776. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: http://www.elsevier.com/locate/joep .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.