Age-related characteristics of risky decision-making and progressive expectation formation

Adaptations of the balloon analog risk task for neuroimaging settings: a systematic review

Introduction

The Balloon Analog Risk Task (BART), a computerized behavioral paradigm, is one of the most common tools used to assess the risk-taking propensity of an individual. Since its initial behavioral version, the BART has been adapted to neuroimaging technique to explore brain networks of risk-taking behavior. However, while there are a variety of paradigms adapted to neuroimaging to date, no consensus has been reached on the best paradigm with the appropriate parameters to study the brain during risk-taking assessed by the BART. In this review of the literature, we aimed to identify the most appropriate BART parameters to adapt the initial paradigm to neuroimaging and increase the reliability of this tool.

Methods

A systematic review focused on the BART versions adapted to neuroimaging was performed in accordance with PRISMA guidelines.

Results

A total of 105 articles with 6,879 subjects identified from the PubMed database met the inclusion criteria. The BART was adapted in four neuroimaging techniques, mostly in functional magnetic resonance imaging or electroencephalography settings.

Discussion

First, to adapt the BART to neuroimaging, a delay was included between each trial, the total number of inflations was reduced between 12 and 30 pumps, and the number of trials was increased between 80 and 100 balloons, enabling us to respect the recording constraints of neuroimaging. Second, explicit feedback about the balloon burst limited the decisions under ambiguity associated with the first trials. Third, employing an outcome index that provides more informative measures than the standard average pump score, along with a model incorporating an exponential monotonic increase in explosion probability and a maximum explosion probability between 50 and 75%, can yield a reliable estimation of risk profile. Additionally, enhancing participant motivation can be achieved by increasing the reward in line with the risk level and implementing payment based on their performance in the BART. Although there is no universal adaptation of the BART to neuroimaging, and depending on the objectives of a study, an adjustment of parameters optimizes its evaluation and clinical utility in assessing risk-taking.

Altered Feedback-Related Negativity in Mild Cognitive Impairment

INTRODUCTION

Feedback-related negativity (FRN) is electrical brain activity related to the function of monitoring behavior and its outcome. FRN is generated by negative feedback input, such as punishment or monetary loss, and its potential is distributed maximally over the frontal-central part of the skull. Our previous study demonstrated that FRN latency was delayed and that the amplitude was increased in patients with mild Alzheimer's disease (AD). As mild cognitive impairment (MCI) is considered to be a prodromal stage of AD, we speculated that FRN would also be altered in MCI, as in AD. The aim of this study is to examine whether MCI patients showed changes in FRN during a gambling task.

METHODS

Thirteen MCI patients and thirteen age-matched healthy elderly individuals participated in a simple gambling task and underwent neuro-psychological assessments. The participants were asked to choose one out of two options and randomly received positive or negative feedback to their response. An EEG was recorded during the task, and FRN was obtained by subtracting the positive feedback-related activity from the negative feedback-related activity.

RESULTS

The reaction time to probe stimuli was comparable in the two groups. The group comparisons revealed that the FRN amplitude was significantly larger for the MCI group than for the healthy elderly (F(1,24) = 6.4, η_p² = 0.22, p = 0.019), but there was no group difference in the FRN latency. The FRN amplitude at the frontocentral electrode positively correlated with the mini-mental state examination score (Spearman's rho_partial = 0.41, p = 0.043). The finding of increased FRN amplitude in MCI was consistent with the previous finding in AD.

CONCLUSION

Our findings indicate that monitoring dysfunction might also be involved in the prodromal stage of dementia.

Deterministic and probabilistic regularities underlying risky choices are acquired in a changing decision context

Predictions supporting risky decisions could become unreliable when outcome probabilities temporarily change, making adaptation more challenging. Therefore, this study investigated whether sensitivity to the temporal structure in outcome probabilities can develop and remain persistent in a changing decision environment. In a variant of the Balloon Analogue Risk Task with 90 balloons, outcomes (rewards or balloon bursts) were predictable in the task's first and final 30 balloons and unpredictable in the middle 30 balloons. The temporal regularity underlying the predictable outcomes differed across three experimental conditions. In the deterministic condition, a repeating three-element sequence dictated the maximum number of pumps before a balloon burst. In the probabilistic condition, a single probabilistic regularity ensured that burst probability increased as a function of pumps. In the hybrid condition, a repeating sequence of three different probabilistic regularities increased burst probabilities. In every condition, the regularity was absent in the middle 30 balloons. Participants were not informed about the presence or absence of the regularity. Sensitivity to both the deterministic and hybrid regularities emerged and influenced risk taking. Unpredictable outcomes of the middle phase did not deteriorate this sensitivity. In conclusion, humans can adapt their risky choices in a changing decision environment by exploiting the statistical structure that controls how the environment changes.

Males with low risk-taking propensity overestimate risk under acute psychological stress

Arousing research has investigated stressed individuals' decision biases, but whether and how stress and individual traits interact to impact the underlying decision-making process is unknown. Here, we aim to explore the effect of acute stress on the interaction between the objective level of risk and subjective risk preference (i.e. risk-taking propensity). Eighty-three healthy males participated in the study. We adopted the Trier Social Stress Test (TSST) to induce acute psychological stress and categorized participants into the high or low risk-taking propensity (HRP/LRP) group according to their traits in daily life. The Balloon Analogue Risk Task (BART) was applied to measure their feedback processing in a risky decision task, while behavioral indexes and EEG signals were recorded. The results showed that stressful participants pumped fewer times than the controls, especially for the LRP under stress, indicating that they were more willing to avoid taking risks. Compared with the stressed HRP group, the stressed LRP showed higher salivary cortisol responses and a more positive FRN following positive feedback in higher risk levels. It implies that acute psychological stress leads the LRP to overestimate the risk probability and become more cautious in the sequential processing of risk. These findings highlight the role of the feedback process and individual traits in risky decision-making under stress.

An ERP investigation of children and adolescents' sensitivity to wins and losses during a peer observation manipulation

The purpose of this ERP P3 study was to test a peer observation manipulation (being observed by a peer versus being alone) on neural markers of attention to reward (win-feedback) and punishment (loss-feedback) during the Balloon Analogue Risk Task. Participants (126 children, 53 % male, 8–10 years; 196 early adolescents, 50 % male, 11–13 years; and 121 mid-adolescents, 52 % male, 14–16 years) were assessed by age group and pubertal status. Individual differences in how participants felt about being observed by a peer, and self-report personality factors, also were examined. Findings indicated that early and mid-adolescents (and individuals in mid-puberty and late-puberty) were sensitive to peer observation as both groups showed larger neural responses to loss-feedback in the peer condition than in the alone condition. Conversely, children (and individuals in pre- and early-puberty) were unaffected by peer observation. In addition, there clearly were individual differences in how rewarding versus anxiety-provoking participants found the peer experience. Early adolescents and mid-adolescents (and individuals in mid- and late-puberty) who reported feeling more anxious about the peer observation elicited larger neural responses to loss-feedback, and individuals in mid- and late-puberty in particular reported higher worry and lower sensation-seeking scores than those who reported a positive experience.

Towards a Functional Neuromarker of Impulsivity: Feedback-Related Brain Potential during Risky Decision-Making Associated with Self-Reported Impulsivity in a Non-Clinical Sample

Risk-taking is part of the multidimensional nature of impulsivity, consisting of an active engagement in behaviors or choices with potentially undesirable results, with probability as the cost for an expected reward. In order to understand the neurophysiological activity during risky behavior and its relationship with other dimensions of impulsivity, we have acquired event-related-potential (ERP) data and self-reported impulsivity scores from 17 non-clinical volunteers. They underwent high-resolution electroencephalography (HR-EEG) combined with an adapted version of the Balloon Analogue Risk Task (BART), and completed the Barratt Impulsiveness Scale (BIS-10) and the Urgency, Premeditation, Perseverance, Sensation Seeking, Impulsive Behavior Scale (UPPS). The ERP components were sensitive to valence (FRN, P300) and risk/reward magnitude (SPN, RewP). Our main finding evidenced a positive correlation between the amplitude of the P300 component following positive feedback and both the global UPPS score and the (lack of) perseverance UPPS subscale, significant for several adjacent electrodes. This finding might suggest an adaptive form of impulsive behavior, which could be associated to the reduction on the difference of the P300 amplitude following negative and positive feedback. However, further investigation with both larger clinical and non-clinical samples is required.

Adaptation to recent outcomes attenuates the lasting effect of initial experience on risky decisions

Both primarily and recently encountered information have been shown to influence experience-based risky decision making. The primacy effect predicts that initial experience will influence later choices even if outcome probabilities change and reward is ultimately more or less sparse than primarily experienced. However, it has not been investigated whether extended initial experience would induce a more profound primacy effect upon risky choices than brief experience. Therefore, the present study tested in two experiments whether young adults adjusted their risk-taking behavior in the Balloon Analogue Risk Task after an unsignaled and unexpected change point. The change point separated early "good luck" or "bad luck" trials from subsequent ones. While mostly positive (more reward) or mostly negative (no reward) events characterized the early trials, subsequent trials were unbiased. In Experiment 1, the change point occurred after one-sixth or one-third of the trials (brief vs. extended experience) without intermittence, whereas in Experiment 2, it occurred between separate task phases. In Experiment 1, if negative events characterized the early trials, after the change point, risk-taking behavior increased as compared with the early trials. Conversely, if positive events characterized the early trials, risk-taking behavior decreased after the change point. Although the adjustment of risk-taking behavior occurred due to integrating recent experiences, the impact of initial experience was simultaneously observed. The length of initial experience did not reliably influence the adjustment of behavior. In Experiment 2, participants became more prone to take risks as the task progressed, indicating that the impact of initial experience could be overcome. Altogether, we suggest that initial beliefs about outcome probabilities can be updated by recent experiences to adapt to the continuously changing decision environment.

Age-related differences in decision-making process in the context of healthy aging

During aging cognitive functions change differently from others. Unlike most of the body systems, there is no clear decline pattern in cognitive processes. One of the most significant cognitive processes is decision-making, which defines social interactions, economical relationships, and risky behavior. Among factors influence decisionmaking process, individual lifelong experience is considered to be an important one. Obviously, older adults have more life experience, than the younger groups. However, the former often do not tend to rational choices and beneficial strategies. In this case it is important to assess how aging processes in brain contribute into searching for the most beneficial option during decision-making. On the basis of today’s studies about risky behavior, judgement of fairness, financial games, and modern neuroimaging data this review will observe and discuss age-related differences in decision-making. Thus, a correct cognitive profile of older adult in decision-making context can be determined.

Event-related potentials in response to feedback following risk-taking in the hot version of the Columbia Card Task

Given the importance of risk-taking in individuals' personal and professional life, several behavioral tasks for measuring the construct have been developed. Recently, a new task was introduced, the Columbia Card Task (CCT). This task measures participants' risk levels and establishes how sensitive participants are to gains, losses, and probabilities when taking risk. So far, the CCT has been examined in behavioral studies and in combination with several (neuro)biological techniques. However, no electroencephalography (EEG) research has been done on the task. The present study fills this gap and helps to validate this relatively new experimental task. To this end, n = 126 students were asked to complete self-reports (reward responsiveness, impulsiveness, and sensation-seeking) and to perform the CCT (and other risk tasks) in an EEG setup. The results show that feedback appraisal after risky decision-making in the CCT was accompanied by a feedback-related negativity (FRN) and a P300, which were stronger in response to negative than positive feedback. Correlations between the FRN and P300 difference wave on the one hand and risk-related self-reports and behavior on the other were nonsignificant and small, but were mostly in the expected direction. This pattern did not change after excluding participants with psychiatric/neurological disorders and outliers. Excluding participants with reversed (positive > negative) difference waves strengthened FRN correlations. The impact such individuals can have on the data should be taken into account in future studies. Regarding the CCT in particular, future studies should also address its oddball structure and its masking of true values (censoring).

Predicting risk decisions in a modified Balloon Analogue Risk Task: Conventional and single-trial ERP analyses

Event-related potential (ERP) has the potential to reveal the temporal neurophysiological dynamics of risk decision-making, but this potential has not been fully explored in previous studies. When predicting risk decision with ERPs, most studies focus on between-trial analysis that reflects feedback learning, while within-trial analysis that could directly link option assessment with behavioral output has been largely ignored. Suitable task design is crucial for applying within-trial prediction. In this study, we used a modified version of the classic Balloon Analogue Risk Task (BART). In each trial of the task, participants made multiple rounds of decisions between a risky option (pump up the balloon) and a safe option (cash out). Behavioral results show that as the level of economic risk increased, participants were less willing to make a risky decision and also needed a longer response time to do so. In general, the ERP results showed distinct characteristics compared with previous findings based on between-trial prediction, particularly about the role of the P1 component. Specifically, both the P1 (amplitude and latency) and P3 (amplitude) components evoked by current outcomes predicted subsequent decisions. We suggest that these findings indicate the importance of selective attention (indexed by the P1) and motivational functions (indexed by the P3), which may help clarify the cognitive mechanism of risk decision-making. The theoretical significance of these findings is discussed.

A gateway to consumers' minds: Achievements, caveats, and prospects of electroencephalography-based prediction in neuromarketing

In the last decade, the field of consumer neuroscience, or neuromarketing, has been flourishing, with numerous publications, academic programs, initiatives, and companies. The demand for objective neural measures to quantify consumers' preferences and predict responses to marketing campaigns is ever on the rise, particularly due to the limitations of traditional marketing techniques, such as questionnaires, focus groups, and interviews. However, research has yet to converge on a unified methodology or conclusive results that can be applied in the industry. In this review, we present the potential of electroencephalography (EEG)-based preference prediction. We summarize previous EEG research and propose features which have shown promise in capturing the consumers' evaluation process, including components acquired from an event-related potential design, inter-subject correlations, hemispheric asymmetry, and various spectral band powers. Next, we review the latest findings on attempts to predict preferences based on various features of the EEG signal. Finally, we conclude with several recommended guidelines for prediction. Chiefly, we stress the need to demonstrate that neural measures contribute to preference prediction beyond what traditional measures already provide. Second, prediction studies in neuromarketing should adopt the standard practices and methodology used in data science and prediction modeling that is common in other fields such as computer science and engineering. This article is categorized under: Economics > Interactive Decision-Making Economics > Individual Decision-Making Psychology > Prediction Neuroscience > Cognition.

Motivational Influences on Performance Monitoring and Cognitive Control Across the Adult Lifespan

Cognitive control refers to the ability to regulate cognitive processing according to the tasks at hand, especially when these are demanding. It includes maintaining and updating relevant information in working memory, inhibiting irrelevant information, and flexibly switching between tasks. Performance monitoring denotes the processing of feedback from the environment and the detection of errors or other unexpected events and signals when cognitive control needs to be exerted. These two aspects of behavioral adaptation critically rely on the integrity of the frontal lobes, which are known to show pronounced age-related performance decrements. By contrast, there is evidence that processing of rewards remains relatively intact across the adult lifespan. Hence, motivation may play an important role in modulating or even counteracting age-related changes in cognitive control functions. To answer this question, neuroscientific data can be particularly useful to uncover potential underlying mechanisms beyond behavioral outcome. The aims of this article are twofold: First, to review and systematize the extant literature on how motivational incentives can modulate performance monitoring and cognitive control in young and older adults. Second, to demonstrate that important pieces of empirical data are currently missing for the evaluation of this central question, specifically in old age. Hence, we would like to stimulate further research uncovering potential mechanisms underlying motivation-cognition interactions in young and in particular in older adults and investigating whether or not those can help to ameliorate age-related impairments.