Work

Neural Random Utility

Year: 2012

Type: article

Abstract: We assess whether a cardinal model can be used to relate neural observables to stochastic choice behaviour. We develop a general empirical framework for relating any neural observable to choice prediction, and propose a means of bench-marking their predictive power. In a previous study, measurements of neural activity were made while subjects considered consumer goods. Here, we find that neural activity predicts choice behaviour, with the degree of stochasticity in choice related to the cardinality of the measurement. However, we also find that current methods have a significant degree of measurement error, severely limiting their inferential and predictive performance.

Source: Journal of Neuroscience Psychology and Economics

DOI: 10.1037/npe0000101

Authors: Ryan Webb, Ifat Levy, Stephanie C. Lazzaro, Robb B. Rutledge, Paul W. Glimcher

Language: English

Topic: Decision-Making and Behavioral Economics

Subfield: General Decision Sciences

Field: Decision Sciences

Domain: Social Sciences

Open Access status: hybrid

Funder: National Institute on Drug Abuse

Award: G5746896001

OpenAlex ID: W3125302410

FWCI: 0.675

Cites: 99

Cited by: 31

Related to: 10