Aging and the neuroeconomics of decision making: A review

Brown, Stephen; Ridderinkhof, K. Richard

doi:10.3758/cabn.9.4.365

Cited by 49 publications

(59 citation statements)

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“…Risk-taking behavior can be defined as a decision making propensity motivated by gain reward beside the possible opportunity to lose [2][3][4]. Since natural circumstances usually include continuous fluctuations in risk, the ability of making decisions based on the acquisition of action-outcome contingencies is an essential part of adaptive risk behavior [5]. In particular, old age represents a critical period due to substantial neurocognitive changes having an effect on both frontal cortical and subcortical brain areas known to be involved in decision making [6,7].…”

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confidence: 99%

“…Accordingly, imaging approaches suggest that the elderly have difficulties in representing outcome values during predictive processing due to decreased frontostriatal connectivity with age [5,20]. Furthermore, the activity of the dopaminergic system also declines during aging, which results in higher signal-to-noise ratio in the frontostriatal communication pathway [37][38][39].…”

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confidence: 99%

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Age-related characteristics of risky decision-making and progressive expectation formation

Kardos

Kóbor

Takács

et al. 2016

Behavioural Brain Research

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During daily encounters, it is inevitable that people take risks. Investigating the sequential processing of risk hazards involve expectation formation about outcome contingencies. The present study aimed to explore risk behavior and its neural correlates in sequences of decision making, particularly in old age, which represents a critical period regarding risk-taking propensity. The Balloon Analogue Risk Task was used in an electrophysiological setting with young and elderly age groups. During the task each additional pump on a virtual balloon increased the likelihood of a balloon burst but also increased the chance to collect more reward. Event-related potentials associated with rewarding feedback were analyzed based on the forthcoming decisions (whether to continue or to stop) in order to differentiate between states of expectation towards gain or loss. In the young, the reward positivity ERP component increased as a function of reward contingencies with the largest amplitude for rewarding feedback followed by the decision to stop. In the elderly, however, reward positivity did not reflect the effect of reward structure. Behavioral indices of risk-taking propensity suggest that the performance of the young and the elderly were dissociable only with respect to response times: The elderly was characterized by hesitation and more deliberative decision making throughout the experiment. These findings signify that sequential tracking of outcome contingencies has a key role in cost-efficient action planning and progressive expectation formation.Keywords: Aging; Decision making; Feedback-related ERPs; Reward positivity; Risk-taking behavior Whether we are aware of the fact or not, risk-taking behavior occurs more frequently during our everyday actions than generally thought. Besides those simple and common examples like taking only one more drink before driving, a temporary excursion from one's self-regulatory goals, i.e., risking the long-term goals for short-term advantages such as making a cheat in a diet, can be considered as a more complex form of 'gambling' [1]. Risk-taking behavior can be defined as a decision making propensity motivated by gain reward beside the possible opportunity to lose [2][3][4]. Since natural circumstances usually include continuous fluctuations in risk, the ability of making decisions based on the acquisition of action-outcome contingencies is an essential part of adaptive risk behavior [5]. In particular, old age represents a critical period due to substantial neurocognitive changes having an effect on both frontal cortical and subcortical brain areas known to be involved in decision making [6,7]. The question remains, however, whether there is a specific inability of the acquisition of relevant information behind the possibly reduced decision quality of the elderly.From the perspective of self-report questionnaires, elderly are characterized by higher risk-avoidance tendency [8]. However, regarding risk behavior, results show evidence for both normal and altered patterns of ...

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confidence: 99%

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confidence: 99%

Age-related characteristics of risky decision-making and progressive expectation formation

Kardos

Kóbor

Takács

et al. 2016

Behavioural Brain Research

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“…Decision making is a process of evaluating available information to determine the best possible option (Glimcher, 2001;Brown & Ridderinkhof, 2009). The areas of the brain thought to be most associated with decision making are: the striatal reward circuitry, the orbitofrontal cortex (OFC), the medial frontal cortex (MFC), and the insula and the dopamine neurotransmitter system (Brown & Ridderinkhof, 2009).…”

Section: Decision Making and Reward Mechanismsmentioning

confidence: 99%

“…The areas of the brain thought to be most associated with decision making are: the striatal reward circuitry, the orbitofrontal cortex (OFC), the medial frontal cortex (MFC), and the insula and the dopamine neurotransmitter system (Brown & Ridderinkhof, 2009). The striatal reward circuitry, as the name implies, is strongly related to reward mechanisms with the ventral striatum associated with reward magnitude while the dorsal striatum represents the reward probability (Brown & Ridderinkhof, 2009). The OFC and striatal dopamine system are well recognized as being involved in reward magnitude and both systems are thought to be important contributors to reward-based decision making (Brown & Ridderinkhof, 2009;Cromwell & Schultz, 2003).…”

Section: Decision Making and Reward Mechanismsmentioning

confidence: 99%

“…The striatal reward circuitry, as the name implies, is strongly related to reward mechanisms with the ventral striatum associated with reward magnitude while the dorsal striatum represents the reward probability (Brown & Ridderinkhof, 2009). The OFC and striatal dopamine system are well recognized as being involved in reward magnitude and both systems are thought to be important contributors to reward-based decision making (Brown & Ridderinkhof, 2009;Cromwell & Schultz, 2003). Additionally, a variety of different brain circuits are thought to be associated with "emotional modulation of decision making" these areas include: the OFC, the anterior cingulate cortex (ACC), the amygdala, and the insula (Brown & Ridderinkhof, 2009).…”

Section: Decision Making and Reward Mechanismsmentioning

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Consumer Evaluation of Low Sodium Mozzarella Cheese and Development of a Novel Method for Evaluating Emotions

Collinsworth¹

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Consumer Evaluation of Low Sodium Mozzarella Cheese and Development of a Novel Method for Evaluating Emotions Lauren Alyse CollinsworthMozzarella cheese is currently the highest consumed cheese in the United States.The popularity of mozzarella cheese is typically attributed to the high consumption rates of pizza cheese and string cheese; both of which are low moisture part skim (LMPS) mozzarella cheese. A single serving of LMPS mozzarella cheese contains approximately 8% of the daily value (DV) for sodium, a mineral which is currently consumed in excess among most Americans. On average, one in three Americans has hypertension. This condition is strongly associated with excessive sodium intake, and it is a leading risk factor for cardiovascular disease and stroke in the United States. Considering the popularity of LMPS mozzarella cheese, its sodium content, and the alarmingly high rates of hypertension among the American population, mozzarella cheese appears to be a product worth pursuing for sodium reduction. Salt (NaCl) provides several key benefits to cheese including: flavor enhancement, preservation, moisture control, and syneresis; thus reducing its concentration in cheese can result in multiple quality concerns.Previous research has investigated the effects of lower sodium in a variety of cheeses including: cheddar, feta, and imitation cheese. Typical methods for reducing sodium content in cheese include reduction of NaCl alone to a level which is still acceptable or partial substitution of NaCl with salt replacers including KCl. For assessing the consumer acceptability of low sodium cheeses, researchers have typically employed v the use of traditional hedonic, preference, and ranking questions; however, consumer scientists have recently suggested the benefits of asking consumers questions which go beyond typical acceptability questions. Purchase intent and decision making have been associated with consumer emotions, and perhaps by better understanding consumer emotions toward nutritional alternative foods, including low sodium mozzarella cheese, a more successful low sodium cheese can be developed.The current study implemented a series of tests to progressively understand the role NaCl plays in mozzarella cheese and consumer opinion of low sodium cheese. A series of traditional sensory tests, including triangle, duo-trio, and hedonic tests, were performed to determine a sensory transparent antimicrobial and a consumer acceptable salt replacer. Based upon this sequence of tests, a single antimicrobial (SEA-i F75) and concentration (0.275%) were selected in addition to the most consistently preferred salt replacer in a low sodium mozzarella cheese system; however, the most preferred salt replacer was dependent upon the type of mozzarella cheese (direct acid or bacteria cultured).In order to address the potentially limited information from traditional sensory testing, a novel method for evaluating emotions was developed. The IMET (Image Measurement of Emotion and Texture) method utilized consumer pr...

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Client Psychology

Sharpe

2018

Client Psychology

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Aging and the neuroeconomics of decision making: A review

Cited by 49 publications

References 116 publications

Age-related characteristics of risky decision-making and progressive expectation formation

Age-related characteristics of risky decision-making and progressive expectation formation

Consumer Evaluation of Low Sodium Mozzarella Cheese and Development of a Novel Method for Evaluating Emotions

Client Psychology

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