Reason, emotion and decision-making: risk and reward computation with feeling
- Creators
- Quartz, Steven R.
Abstract
Many models of judgment and decision-making posit distinct cognitive and emotional contributions to decision-making under uncertainty. Cognitive processes typically involve exact computations according to a cost-benefit calculus, whereas emotional processes typically involve approximate, heuristic processes that deliver rapid evaluations without mental effort. However, it remains largely unknown what specific parameters of uncertain decision the brain encodes, the extent to which these parameters correspond to various decision-making frameworks, and their correspondence to emotional and rational processes. Here, I review research suggesting that emotional processes encode in a precise quantitative manner the basic parameters of financial decision theory, indicating a reorientation of emotional and cognitive contributions to risky choice.
Additional Information
© 2009 Elsevier Ltd. Available online 8 April 2009. I would like to thank James Woodward and the anonymous reviewers for their insightful feedback on earlier versions of the manuscript. I am indebted to Kerstin Preuschoff and Peter Bossaerts for collaborations resulting in findings regarding risk and reward representation. The author's work is partially funded by the Gordon and Betty Moore Foundation.Additional details
- Eprint ID
- 15708
- DOI
- 10.1016/j.tics.2009.02.003
- Resolver ID
- CaltechAUTHORS:20090910-075350586
- Gordon and Betty Moore Foundation
- Created
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2009-09-10Created from EPrint's datestamp field
- Updated
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2021-11-08Created from EPrint's last_modified field