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Contextual and social influences on valuation and choice

Type of publication Peer-reviewed
Publikationsform Contribution to book (peer-reviewed)
Author Engelmann J.B., Hein G.,
Project Vertrauen verstehen. Grundlagen, Formen und Grenzen des Vertrauens
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Contribution to book (peer-reviewed)

Book Decision Making: Neural and Behavioural Approaches. Progress in Brain Research. 202
Editor , Pammi V.
Publisher Newnes, New South Wales
Page(s) 215 - 237
ISBN 9780444626042
Title of proceedings Decision Making: Neural and Behavioural Approaches. Progress in Brain Research. 202

Abstract

To survive in our complex environment, we have to adapt to changing contexts. Prior research that investigated how contextual changes are processed in the human brain has demonstrated important modulatory influences on multiple cognitive processes underlying decision-making, including perceptual judgments, working memory, as well as cognitive and attentional control. However, in everyday life, the importance of context is even more obvious during economic and social interactions, which often have implicit rule sets that need to be recognized by a decision-maker. Here, we review recent evidence from an increasing number of studies in the fields of Neuroeconomics and Social Neuroscience that investigate the neurobiological basis of contextual effects on valuation and social choice. Contrary to the assumptions of rational choice theory, multiple contextual factors, such as the availability of alternative choice options, shifts in reference point, and social context, have been shown to modulate behavior, as well as signals in task-relevant neural networks. A consistent picture that emerges from neurobiological results is that valuation-related activity in striatum and ventromedial prefrontal cortex is highly context dependent during both social and nonsocial choice. Alternative approaches to model and explain choice behavior, such as comparison-based choice models, as well as implications for future research are discussed
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