Philosophical transactions of the Royal Society of London. Series B, Biological sciences
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Rational-choice theory tries to explain behaviour on the assumption that individuals optimize. Some forms of irrational behaviour can be explained by assuming that the individual is subject to hedonic, pleasure-seeking mechanisms, such as wishful thinking or adaptive preference formation. In this paper, I draw attention to psychic mechanisms, originating in the individual, which make her worse off. I first consider the ideas of counterwishful thinking and of counteradaptive preference formation and then, drawing heavily on Proust, the self-poisoning of the mind that occurs through the operation of amour-propre.
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Philos. Trans. R. Soc. Lond., B, Biol. Sci. · Jan 2010
Herding, social influence and economic decision-making: socio-psychological and neuroscientific analyses.
Typically, modern economics has steered away from the analysis of sociological and psychological factors and has focused on narrow behavioural assumptions in which expectations are formed on the basis of mathematical algorithms. Blending together ideas from the social and behavioural sciences, this paper argues that the behavioural approach adopted in most economic analysis, in its neglect of sociological and psychological forces and its simplistically dichotomous categorization of behaviour as either rational or not rational, is too narrow and stark. Behaviour may reflect an interaction of cognitive and emotional factors and this can be captured more effectively using an approach that focuses on the interplay of different decision-making systems. In understanding the mechanisms affecting economic and financial decision-making, an interdisciplinary approach is needed which incorporates ideas from a range of disciplines including sociology, economic psychology, evolutionary biology and neuroeconomics.
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Philos. Trans. R. Soc. Lond., B, Biol. Sci. · Mar 2009
Conflicts of interest and the evolution of decision sharing.
Social animals regularly face consensus decisions whereby they choose, collectively, between mutually exclusive actions. Such decisions often involve conflicts of interest between group members with respect to preferred action. Conflicts could, in principle, be resolved, either by sharing decisions between members ('shared decisions') or by one 'dominant' member making decisions on behalf of the whole group ('unshared decisions'). ⋯ Selection favours unshared over shared decisions when conflicts are high relative to grouping benefits, and vice versa. These results differ from those of group decision models relating to activity timings. We attribute this to fundamental differences between collective decisions about modalities that are disjunct (here, space) or continuous (here, time) with respect to costs/benefits.
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Philos. Trans. R. Soc. Lond., B, Biol. Sci. · Feb 2009
ReviewImproving the performance of the amblyopic visual system.
Experience-dependent plasticity is closely linked with the development of sensory function; however, there is also growing evidence for plasticity in the adult visual system. This review re-examines the notion of a sensitive period for the treatment of amblyopia in the light of recent experimental and clinical evidence for neural plasticity. One recently proposed method for improving the effectiveness and efficiency of treatment that has received considerable attention is 'perceptual learning'. ⋯ The results suggest that perceptual learning may be effective in improving a range of visual performance and, importantly, the improvements may transfer to visual acuity. Recent studies have sought to explore the limits and time course of perceptual learning as an adjunct to occlusion and to investigate the neural mechanisms underlying the visual improvement. These findings, along with the results of new clinical trials, suggest that it might be time to reconsider our notions about neural plasticity in amblyopia.
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Philos. Trans. R. Soc. Lond., B, Biol. Sci. · Dec 2008
Explicit neural signals reflecting reward uncertainty.
The acknowledged importance of uncertainty in economic decision making has stimulated the search for neural signals that could influence learning and inform decision mechanisms. Current views distinguish two forms of uncertainty, namely risk and ambiguity, depending on whether the probability distributions of outcomes are known or unknown. Behavioural neurophysiological studies on dopamine neurons revealed a risk signal, which covaried with the standard deviation or variance of the magnitude of juice rewards and occurred separately from reward value coding. ⋯ The orbitofrontal risk signal covaried with individual risk attitudes, possibly explaining individual differences in risk perception and risky decision making. Ambiguous gambles with incomplete probabilistic information induced stronger brain signals than risky gambles in OFC and amygdala, suggesting that the brain's reward system signals the partial lack of information. The brain can use the uncertainty signals to assess the uncertainty of rewards, influence learning, modulate the value of uncertain rewards and make appropriate behavioural choices between only partly known options.