Neuronal origins of reduced accuracy and biases in economic choices under sequential offers

  1. Weikang Shi
  2. Sebastien Ballesta
  3. Camillo Padoa-Schioppa  Is a corresponding author
  1. Washington University in St. Louis, United States

Abstract

Economic choices are characterized by a variety of biases. Understanding their origins is a long-term goal for neuroeconomics, but progress on this front has been limited. Here we examined choice biases observed when two goods are offered sequentially. In the experiments, rhesus monkeys chose between different juices offered simultaneously or in sequence. Choices under sequential offers were less accurate (higher variability). They were also biased in favor of the second offer (order bias) and in favor of the preferred juice (preference bias). Analysis of neuronal activity recorded in the orbitofrontal cortex revealed that these phenomena emerged at different computational stages. Lower choice accuracy reflected weaker offer value signals (valuation stage), the order bias emerged during value comparison (decision stage), and the preference bias emerged late in the trial (post-comparison). By neuronal measures, each phenomenon reduced the value obtained on average in each trial and was thus costly to the monkey.

Data availability

Neuronal data and analysis scripts are deposited in GitHub: https://github.com/PadoaSchioppaLab/2022_eLife_choicebias

The following data sets were generated

Article and author information

Author details

  1. Weikang Shi

    Department of Neuroscience, Washington University in St. Louis, Saint Louis, United States
    Competing interests
    The authors declare that no competing interests exist.
    ORCID icon "This ORCID iD identifies the author of this article:" 0000-0002-4068-1168
  2. Sebastien Ballesta

    Department of Neuroscience, Washington University in St. Louis, Saint Louis, United States
    Competing interests
    The authors declare that no competing interests exist.
  3. Camillo Padoa-Schioppa

    Department of Neuroscience, Washington University in St. Louis, Saint Louis, United States
    For correspondence
    camillo@wustl.edu
    Competing interests
    The authors declare that no competing interests exist.
    ORCID icon "This ORCID iD identifies the author of this article:" 0000-0002-7519-8790

Funding

National Institute of Mental Health (R01-MH104494)

  • Camillo Padoa-Schioppa

McDonnell Center for Systems Neuroscience (CCSN Fellowship)

  • Weikang Shi

The funders had no role in study design, data collection and interpretation, or the decision to submit the work for publication.

Reviewing Editor

  1. Erin L Rich, Icahn School of Medicine at Mount Sinai, United States

Ethics

Animal experimentation: All the experimental procedures adhered to the NIH Guide for the Care and Use of Laboratory Animals and were approved by the Institutional Animal Care and Use Committee (IACUC) at Washington University (protocol number 190931).

Version history

  1. Preprint posted: November 8, 2021 (view preprint)
  2. Received: November 28, 2021
  3. Accepted: April 8, 2022
  4. Accepted Manuscript published: April 13, 2022 (version 1)
  5. Version of Record published: April 27, 2022 (version 2)

Copyright

© 2022, Shi et al.

This article is distributed under the terms of the Creative Commons Attribution License permitting unrestricted use and redistribution provided that the original author and source are credited.

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  1. Weikang Shi
  2. Sebastien Ballesta
  3. Camillo Padoa-Schioppa
(2022)
Neuronal origins of reduced accuracy and biases in economic choices under sequential offers
eLife 11:e75910.
https://doi.org/10.7554/eLife.75910

Share this article

https://doi.org/10.7554/eLife.75910

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