IDEAS home Printed from https://ideas.repec.org/a/nat/natcom/v13y2022i1d10.1038_s41467-022-32199-y.html
   My bibliography  Save this article

Orbitofrontal cortex contributes to the comparison of values underlying economic choices

Author

Listed:
  • Sébastien Ballesta

    (Washington University in St. Louis
    Laboratoire de Neurosciences Cognitives et Adaptatives (UMR 7364)
    Centre de Primatologie de l’Université de Strasbourg)

  • Weikang Shi

    (Washington University in St. Louis
    Yale University)

  • Camillo Padoa-Schioppa

    (Washington University in St. Louis
    Washington University in St. Louis
    Washington University in St. Louis)

Abstract

Economic choices between goods entail the computation and comparison of subjective values. Previous studies examined neuronal activity in the orbitofrontal cortex (OFC) of monkeys choosing between different types of juices. Three groups of neurons were identified: offer value cells encoding the value of individual offers, chosen juice cells encoding the identity of the chosen juice, and chosen value cells encoding the value of the chosen offer. The encoded variables capture both the input (offer value) and the output (chosen juice, chosen value) of the decision process, suggesting that values are compared within OFC. Recent work demonstrates that choices are causally linked to the activity of offer value cells. Conversely, the hypothesis that OFC contributes to value comparison has not been confirmed. Here we show that weak electrical stimulation of OFC specifically disrupts value comparison without altering offer values. This result implies that neuronal populations in OFC participate in value comparison.

Suggested Citation

  • Sébastien Ballesta & Weikang Shi & Camillo Padoa-Schioppa, 2022. "Orbitofrontal cortex contributes to the comparison of values underlying economic choices," Nature Communications, Nature, vol. 13(1), pages 1-10, December.
    • Handle: RePEc:nat:natcom:v:13:y:2022:i:1:d:10.1038_s41467-022-32199-y
    DOI: 10.1038/s41467-022-32199-y
    as

    Download full text from publisher

    File URL: https://www.nature.com/articles/s41467-022-32199-y
    File Function: Abstract
    Download Restriction: no
    File URL: https://libkey.io/10.1038/s41467-022-32199-y?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Camillo Padoa-Schioppa & John A. Assad, 2006. "Neurons in the orbitofrontal cortex encode economic value," Nature, Nature, vol. 441(7090), pages 223-226, May.
    2. Glimcher, Paul W. & Dorris, Michael C. & Bayer, Hannah M., 2005. "Physiological utility theory and the neuroeconomics of choice," Games and Economic Behavior, Elsevier, vol. 52(2), pages 213-256, August.
    3. Sébastien Ballesta & Weikang Shi & Katherine E. Conen & Camillo Padoa-Schioppa, 2020. "Values encoded in orbitofrontal cortex are causally related to economic choices," Nature, Nature, vol. 588(7838), pages 450-453, December.
    4. Alexandre Pastor-Bernier & Arkadiusz Stasiak & Wolfram Schultz, 2019. "Orbitofrontal signals for two-component choice options comply with indifference curves of Revealed Preference Theory," Nature Communications, Nature, vol. 10(1), pages 1-19, December.
    Full references (including those not matched with items on IDEAS)

    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. Leo Chi U Seak & Simone Ferrari-Toniolo & Ritesh Jain & Kirby Nielsen & Wolfram Schultz, 2023. "Systematic comparison of risky choices in humans and monkeys," Working Papers 202316, University of Liverpool, Department of Economics.
    2. Wenyi Zhang & Yang Xie & Tianming Yang, 2022. "Reward salience but not spatial attention dominates the value representation in the orbitofrontal cortex," Nature Communications, Nature, vol. 13(1), pages 1-12, December.
    3. Brocas, Isabelle & Carrillo, Juan D., 2012. "From perception to action: An economic model of brain processes," Games and Economic Behavior, Elsevier, vol. 75(1), pages 81-103.
    4. Linda Q. Yu & Jason Dana & Joseph W. Kable, 2022. "Individuals with ventromedial frontal damage display unstable but transitive preferences during decision making," Nature Communications, Nature, vol. 13(1), pages 1-10, December.
    5. Nir Moneta & Mona M. Garvert & Hauke R. Heekeren & Nicolas W. Schuck, 2023. "Task state representations in vmPFC mediate relevant and irrelevant value signals and their behavioral influence," Nature Communications, Nature, vol. 14(1), pages 1-21, December.
    6. B. Douglas Bernheim, 2009. "On the Potential of Neuroeconomics: A Critical (but Hopeful) Appraisal," American Economic Journal: Microeconomics, American Economic Association, vol. 1(2), pages 1-41, August.
    7. Daniel Serra, 2021. "Decision-making: from neuroscience to neuroeconomics—an overview," Theory and Decision, Springer, vol. 91(1), pages 1-80, July.
    8. Carlos Alós-Ferrer & Maximilian Mihm, 2021. "Updating stochastic choice," ECON - Working Papers 381, Department of Economics - University of Zurich.
    9. Brocas, Isabelle, 2012. "Information processing and decision-making: Evidence from the brain sciences and implications for economics," Journal of Economic Behavior & Organization, Elsevier, vol. 83(3), pages 292-310.
    10. Francesco GUALA, 2017. "Preferences: Neither Behavioural nor Mental," Departmental Working Papers 2017-05, Department of Economics, Management and Quantitative Methods at Università degli Studi di Milano.
    11. Ariel Rubinstein, 2005. "Discussion of 'BEHAVIORAL ECONOMICS'," Levine's Bibliography 784828000000000539, UCLA Department of Economics.
    12. Alcocer, Christian Diego & Jeitschko, Thomas D. & Shupp, Robert, 2020. "Naive and sophisticated mixing: Experimental evidence," Journal of Economic Behavior & Organization, Elsevier, vol. 170(C), pages 157-173.
    13. Daniel Serra, 2019. "La neuroéconomie en question : débats et controverses," CEE-M Working Papers halshs-02160911, CEE-M, Universtiy of Montpellier, CNRS, INRA, Montpellier SupAgro.
    14. 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.
    15. Nick Netzer, 2009. "Evolution of Time Preferences and Attitudes toward Risk," American Economic Review, American Economic Association, vol. 99(3), pages 937-955, June.
    16. Laurette Dubé & Antoine Bechara & Ulf Böckenholt & Asim Ansari & Alain Dagher & Mark Daniel & Wayne DeSarbo & Lesley Fellows & Ross Hammond & Terry Huang & Scott Huettel & Yan Kestens & Bärbel Knäuper, 2009. "Towards a brain-to-society systems model of individual choice," Marketing Letters, Springer, vol. 20(1), pages 105-106, March.
    17. Alvino, Letizia & Constantinides, Efthymios & Franco, Massimo, 2018. "Towards a better understanding of consumer behavior : Marginal utility as a parameter in neuromarketing research," Other publications TiSEM b3e61951-9032-4cb4-b075-1, Tilburg University, School of Economics and Management.
    18. Lin Zhang & Beibei Sun & Fei Shu & Ying Huang, 2022. "Comparing paper level classifications across different methods and systems: an investigation of Nature publications," Scientometrics, Springer;Akadémiai Kiadó, vol. 127(12), pages 7633-7651, December.
    19. Letizia Alvino & Efthymios Constantinides & Massimo Franco, 2018. "Towards a Better Understanding of Consumer Behavior: Marginal Utility as a Parameter in Neuromarketing Research," International Journal of Marketing Studies, Canadian Center of Science and Education, vol. 10(1), pages 90-106, March.
    20. Jan B Engelmann & C Monica Capra & Charles Noussair & Gregory S Berns, 2009. "Expert Financial Advice Neurobiologically “Offloads” Financial Decision-Making under Risk," PLOS ONE, Public Library of Science, vol. 4(3), pages 1-14, March.

    More about this item

    Statistics

    Access and download statistics

    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:nat:natcom:v:13:y:2022:i:1:d:10.1038_s41467-022-32199-y. 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: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.nature.com .

    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.