Neural Activity Reveals Preferences without Choices
Abstract
We investigate the feasibility of inferring the choices people would make (if given the opportunity) based on their neural responses to the pertinent prospects when they are not engaged in actual decision making. The ability to make such inferences is of potential value when choice data are unavailable, or limited in ways that render standard methods of estimating choice mappings problematic. We formulate prediction models relating choices to "nonchoice" neural responses, and use them to predict out-of-sample choices for new items and for new groups of individuals. The predictions are sufficiently accurate to establish the feasibility of our approach.
Additional Information
© 2014 American Economic Association. Alec Smith thanks Todd Hare and Ian Krajbich for many helpful discussions. Camerer and Rangel thankfully acknowledge financial support from the National Science Foundation (Grant SES-0850840), while Camerer is greatly appreciative of financial support from the Lipper Family Foundation and the Betty and Gordon Moore Foundation.Attached Files
Published - mic.6.2.1.pdf
Supplemental Material - 2012-0113_app.pdf
Supplemental Material - 2012-0113_data.zip
Files
Additional details
- PMCID
- PMC4339868
- Eprint ID
- 46094
- Resolver ID
- CaltechAUTHORS:20140605-094755605
- NSF
- SES-0850840
- Lipper Family Foundation
- Gordon and Betty Moore Foundation
- Created
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2014-06-06Created from EPrint's datestamp field
- Updated
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2021-11-10Created from EPrint's last_modified field