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The adaptive value of probability distortion and risk-seeking in macaques' decision-making

Author

Listed:
  • Aurélien Nioche

    (Department of Communications and Networking [Aalto Univ] - School of Electrical Engineering [Aalto Univ] - Aalto University)

  • Nicolas P. Rougier

    (Mnemosyne - Mnemonic Synergy - LaBRI - Laboratoire Bordelais de Recherche en Informatique - UB - Université de Bordeaux - École Nationale Supérieure d'Électronique, Informatique et Radiocommunications de Bordeaux (ENSEIRB) - CNRS - Centre National de la Recherche Scientifique - Inria Bordeaux - Sud-Ouest - Inria - Institut National de Recherche en Informatique et en Automatique - IMN - Institut des Maladies Neurodégénératives [Bordeaux] - UB - Université de Bordeaux - CNRS - Centre National de la Recherche Scientifique)

  • Marc Deffains

    (IMN - Institut des Maladies Neurodégénératives [Bordeaux] - UB - Université de Bordeaux - CNRS - Centre National de la Recherche Scientifique)

  • Sacha Bourgeois-Gironde

    (LEMMA - Laboratoire d'économie mathématique et de microéconomie appliquée - UP2 - Université Panthéon-Assas, IJN - Institut Jean-Nicod - DEC - Département d'Etudes Cognitives - ENS Paris - ENS-PSL - École normale supérieure - Paris - PSL - Université Paris sciences et lettres - EHESS - École des hautes études en sciences sociales - CdF (institution) - Collège de France - CNRS - Centre National de la Recherche Scientifique - Département de Philosophie - ENS Paris - ENS-PSL - École normale supérieure - Paris - PSL - Université Paris sciences et lettres)

  • Sébastien Ballesta

    (UNISTRA - Université de Strasbourg)

  • Thomas Boraud

    (IMN - Institut des Maladies Neurodégénératives [Bordeaux] - UB - Université de Bordeaux - CNRS - Centre National de la Recherche Scientifique)

Abstract

In humans, the attitude toward risk is not neutral and is dissimilar between bets involving gains and bets involving losses. The existence and prevalence of these decision features in non-human primates are unclear. In addition, only a few studies have tried to simulate the evolution of agents based on their attitude toward risk. Therefore, we still ignore to which extent Prospect theory's claims are evolutionary rooted. To shed light on this issue, we collected data in 9 macaques that performed bets involving gains or losses. We confirmed that their overall behaviour is coherent with Prospect theory's claims. In parallel, we used a genetic algorithm to simulate the evolution of a population of agents across several generations. We showed that the algorithm selects progressively agents that exhibit risk-seeking and an inverted S-shape distorted perception of probability. We compared these two results and found that monkeys' attitude toward risk when facing losses only is congruent with the simulation. This result is consistent with the idea that gambling in the loss domain is analogous to deciding in a context of life-threatening challenges where a certain level of risk-seeking behaviours and probability distortions may be adaptive.

Suggested Citation

  • Aurélien Nioche & Nicolas P. Rougier & Marc Deffains & Sacha Bourgeois-Gironde & Sébastien Ballesta & Thomas Boraud, 2021. "The adaptive value of probability distortion and risk-seeking in macaques' decision-making," Post-Print hal-03005035, HAL.
  • Handle: RePEc:hal:journl:hal-03005035
    DOI: 10.1098/rstb.2019.0668
    Note: View the original document on HAL open archive server: https://inria.hal.science/hal-03005035v2
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    References listed on IDEAS

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    1. Tversky, Amos & Kahneman, Daniel, 1992. "Advances in Prospect Theory: Cumulative Representation of Uncertainty," Journal of Risk and Uncertainty, Springer, vol. 5(4), pages 297-323, October.
    2. Charles A. Holt & Susan K. Laury, 2002. "Risk Aversion and Incentive Effects," American Economic Review, American Economic Association, vol. 92(5), pages 1644-1655, December.
    3. Francesca de Petrillo & Melania Paoletti & Francesca Bellagamba & Giorgio Manzi & Fabio Paglieri & Elsa Addessi, 2020. "Contextual factors modulate risk preferences in adult humans," Post-Print hal-02894876, HAL.
    4. Daniel Kahneman & Amos Tversky, 2013. "Prospect Theory: An Analysis of Decision Under Risk," World Scientific Book Chapters, in: Leonard C MacLean & William T Ziemba (ed.), HANDBOOK OF THE FUNDAMENTALS OF FINANCIAL DECISION MAKING Part I, chapter 6, pages 99-127, World Scientific Publishing Co. Pte. Ltd..
    5. Rieger, Marc Oliver, 2014. "Evolutionary stability of prospect theory preferences," Journal of Mathematical Economics, Elsevier, vol. 50(C), pages 1-11.
    6. Campos-Vazquez, Raymundo M. & Cuilty, Emilio, 2014. "The role of emotions on risk aversion: A Prospect Theory experiment," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 50(C), pages 1-9.
    7. Drazen Prelec, 1998. "The Probability Weighting Function," Econometrica, Econometric Society, vol. 66(3), pages 497-528, May.
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    1. Yuri Imaizumi & Agnieszka Tymula & Yasuhiro Tsubo & Masayuki Matsumoto & Hiroshi Yamada, 2022. "A neuronal prospect theory model in the brain reward circuitry," Nature Communications, Nature, vol. 13(1), pages 1-11, December.

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    Keywords

    Genetic algorithm; Cognitive biases; Monkey; Autonomous Cognitive Testing; Experimental economics;
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