Comparison of functional near-infrared spectroscopy and electrodermal activity in assessing objective versus subjective risk during risky financial decisions

Holper, Lisa; Wolf, Martin; Tobler, Philippe N.

doi:10.1016/j.neuroimage.2013.09.047

Cited by 49 publications

(45 citation statements)

References 57 publications

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“…Concerning the hotly debated topic of whether loss aversion is a byproduct of a single system or results from the interaction of multiple systems in the brain, the results of our experiment add further evidence in support of the latter hypothesis, at least in the DLPFC. Our findings also support the reliability of neuroimaging results across different research groups (Cazzell et al, 2012; Bembich et al, 2014; Holper et al, 2014; Lin et al, 2014). …”

Section: Discussionsupporting

confidence: 84%

Activation of the DLPFC Reveals an Asymmetric Effect in Risky Decision Making: Evidence from a tDCS Study

et al. 2017

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The phenomenon of loss aversion (the tendency for losses to have a greater impact than comparable gains) has long been observed in daily life. Neurocognitive studies and brain imaging studies have shed light on the correlation between the phenomenon of loss aversion and the brain region of the prefrontal cortex. Recent brain stimulation studies using bilateral transcranial magnetic stimulation or transcranial direct current stimulation (tDCS) have obtained various results showing the causal relationship between brain regions and decision making. With the goal of studying whether unilateral stimulation can change participants’ risky decision making in the frames of gains and losses, we applied different polarities of tDCS over the regions of the right or left prefrontal cortex. We also designed a risk measurement table (Multiple Price List) to reflect the participants’ attitudes toward risky decision making via the crossover point including the frames of gains and losses. The results of our experiment indicated that the participants tended to be more risk averse in the gain frame after receiving left anodal tDCS and more risk seeking in the loss frame after receiving right cathodal tDCS, which was consistent with the hypothesis that the process of risky decision making was correlated with the interaction of multiple systems in the brain. Our conclusion revealed an asymmetric effect of right/left DLPFC when the participants faced gains and losses, which partially provided the neural evidence and a feasible paradigm to help better understand risky decision making and loss aversion. The current study can not only expand the traditional understanding of the behavioral preferences of humans in economics but also accommodate empirical observations of behavioral economists on the preferences of humans.

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Section: Discussionsupporting

confidence: 84%

Activation of the DLPFC Reveals an Asymmetric Effect in Risky Decision Making: Evidence from a tDCS Study

et al. 2017

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“…Compatibility with other methods: fNIRS compatibility with other measurements such as EDA is very high (see, for example, Holper et al, 2014). Especially for field experiments with complex stimuli, this possibility could be valuable—for instance, by combining fNIRS with eye-tracking data.…”

Section: Decision On the Suitability Of Fnirs Methodology For Studyinmentioning

confidence: 99%

“…Very recently, Holper et al (2014) presented the first study using wireless and mobile fNIRS machinery with a research question relevant to economics (see Table 2). The researchers tested the activity of the lateral prefrontal cortex during risky decision making, using a simultaneous comparison of the mobile fNIRS system and an EDA device ( N = 20) in a computer experiment.…”

Section: Literature Review Of Nirs Studiesmentioning

confidence: 99%

“…This element of integrating eye-tracking has potential usefulness in neurophysiological field experiments using a portable fNIRS device. Furthermore, comparing fNIRS activation and electrodermal arousal reactions (as additional controls) could be useful for measuring not only eye-tracking but also (“EDA”; e.g., Greenwald et al, 1989) simultaneously with fNIRS (Holper et al, 2014). Prior studies have revealed that specific activations in prefrontal areas have an effect on EDA (Tranel, 2000; Critchley, 2002; Figner and Murphy, 2010; Holper et al, 2014).…”

Section: Insight Into a Potential Field Experiments Set-upmentioning

confidence: 99%

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Near-infrared spectroscopy (NIRS) as a new tool for neuroeconomic research

Kopton¹,

Kenning²

2014

Front. Hum. Neurosci.

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Over the last decade, the application of neuroscience to economic research has gained in importance and the number of neuroeconomic studies has grown extensively. The most common method for these investigations is fMRI. However, fMRI has limitations (particularly concerning situational factors) that should be countered with other methods. This review elaborates on the use of functional Near-Infrared Spectroscopy (fNIRS) as a new and promising tool for investigating economic decision making both in field experiments and outside the laboratory. We describe results of studies investigating the reliability of prototype NIRS studies, as well as detailing experiments using conventional and stationary fNIRS devices to analyze this potential. This review article shows that further research using mobile fNIRS for studies on economic decision making outside the laboratory could be a fruitful avenue helping to develop the potential of a new method for field experiments outside the laboratory.

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“…Different parts of the brain 'light up' under magnetic resonance imaging studies when risk-averse individuals are compared with risk-seeking individuals, at least in research undertaken to study risk behaviour in the context of financial decisions. [13] It has long been known that there are at least six major determinants that influence the way in which objective risk is subjectively interpreted. [3] These include (i) the way in which risk figures are presented; (ii) the anticipation of the risk odds prior to receiving information on objective risk; (iii) the nature of the outcome if the risk eventuates, potentially causing hurt or harm; (iv) individual personality; (v) prior runs of good or bad luck; and (vi) time factors which determine whether a gamble has to be accepted with immediacy or can be deferred.…”

Section: Absolute Riskmentioning

confidence: 99%

Interpreting genetic risks

Pearn

2016

S Afr Med J

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Comparison of functional near-infrared spectroscopy and electrodermal activity in assessing objective versus subjective risk during risky financial decisions

Cited by 49 publications

References 57 publications

Activation of the DLPFC Reveals an Asymmetric Effect in Risky Decision Making: Evidence from a tDCS Study

Activation of the DLPFC Reveals an Asymmetric Effect in Risky Decision Making: Evidence from a tDCS Study

Near-infrared spectroscopy (NIRS) as a new tool for neuroeconomic research

Interpreting genetic risks

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