Reappraisal and expected value modulate risk taking

Multiple timescales of temporal context in risky choice: Behavioral identification and relationships to physiological arousal

Context-dependence is fundamental to risky monetary decision-making. A growing body of evidence suggests that temporal context, or recent events, alters risk-taking at a minimum of three timescales: immediate (e.g. trial-by-trial), neighborhood (e.g. a group of consecutive trials), and global (e.g. task-level). To examine context effects, we created a novel monetary choice set with intentional temporal structure in which option values shifted between multiple levels of value magnitude ("contexts") several times over the course of the task. This structure allowed us to examine whether effects of each timescale were simultaneously present in risky choice behavior and the potential mechanistic role of arousal, an established correlate of risk-taking, in context-dependency. We found that risk-taking was sensitive to immediate, neighborhood, and global timescales: risk-taking decreased following large (vs. small) outcome amounts, increased following large positive (but not negative) shifts in context, and increased when cumulative earnings exceeded expectations. We quantified arousal with skin conductance responses, which were related to the global timescale, increasing with cumulative earnings, suggesting that physiological arousal captures a task-level assessment of performance. Our results both replicate and extend prior research by demonstrating that risky decision-making is consistently dynamic at multiple timescales and that the role of arousal in risk-taking extends to some, but not all timescales of context-dependence.

The impact of STI test results and face-to-face consultations on subsequent behavior and psychological characteristics

Sexually transmitted infection (STI) testing without face-to-face counselling is increasingly offered at sexual health centers (SHC), and ordering self-sampling tests online is becoming more popular. However, the impact of testing without counselling on behavior is unknown. We examine the impact of STI testing with and without consultation and the combined effect of a positive test result and treatment consultation, on behavioral and psychological characteristics over time. Data from a longitudinal study among heterosexual SHC visitors aged 18-24 years was used. The impact of a test consultation (participants who tested chlamydia negative with vs. without consultation) and treatment consultation/positive test result (participants who tested chlamydia positive vs. negative), was assessed by comparing behavioral and psychological characteristics before testing (baseline), and at three-week and six-month follow-up, using generalized estimating equation models. Changes after testing were similar between participants who tested chlamydia negative with and without test consultation, namely decreased risk perception, shame, number of partners, and increased knowledge. However, participants who tested chlamydia positive reported stronger increases in health goals and intentions towards condom use, and stronger decreases in the number of partners and stigma, compared to participants who tested negative. Furthermore, condom use increased in chlamydia positive, and decreased in chlamydia negative participants. A treatment consultation/positive test result had a risk-reducing impact on behavioral and psychological characteristics, whereas the impact of a test consultation was limited. Since the majority of young heterosexuals test chlamydia negative, alternative interventions (e.g., online) achieving risk-reducing behavior change targeted to individuals who tested negative are needed.

The effect of emotion regulation on risk-taking and decision-related activity in prefrontal cortex

Emotion regulation impacts the expected emotional responses to the outcomes of risky decisions via activation of cognitive control strategies. However, whether the regulation of emotional responses to preceding, incidental stimuli also impacts risk-taking in subsequent decisions is still poorly understood. In this study, we investigated the interplay between the regulation of incidentally induced emotional responses and subsequent choice behavior using a risky decision-making task in two independent samples (behavioral and functional magnetic resonance imaging experiment). We found that overall, emotion regulation was followed by less risky decisions, which was further reflected in an increase in activation in brain regions in dorsolateral and ventrolateral prefrontal cortex and cingulate cortex. These findings suggest that altering incidental emotions using reappraisal strategies impacts on subsequent risk-taking in decision-making.

The order of information processing alters economic gain-loss framing effects

Adaptive decision making requires analysis of available information during the process of choice. In many decisions that information is presented visually - which means that variations in visual properties (e.g., salience, complexity) can potentially influence the process of choice. In the current study, we demonstrate that variation in the left-right positioning of risky and safe decision options can influence the canonical gain-loss framing effect. Two experiments were conducted using an economic framing task in which participants chose between gambles and certain outcomes. The first experiment demonstrated that the magnitude of the gain-loss framing effect was greater when the certain option signaling the current frame was presented on the left side of the visual display. Eye-tracking data during task performance showed a left-gaze bias for initial fixations, suggesting that the option presented on the left side was processed first. Combination of eye-tracking and choice data revealed that there was a significant effect of direction of first gaze (i.e. left vs. right) as well as an interaction between gaze direction and identity of the first fixated information (i.e. certain vs. gamble) regardless of frame. A second experiment presented the gamble and certain options in a random order, with a temporal delay between their presentations. We found that the magnitude of gain-loss framing was larger when the certain option was presented first, regardless of left and right positioning, only in individuals with lower risk-taking tendencies. The effect of presentation order on framing was not present in high risk-takers. These results suggest that the sequence of visual information processing as well as their left-right positioning can bias choices by changing the impact of the presented information during risky decision making.

Follow the heart or the head? The interactive influence model of emotion and cognition

The experience of emotion has a powerful influence on daily-life decision making. Following Plato's description of emotion and reason as two horses pulling us in opposite directions, modern dual-system models of decision making endorse the antagonism between reason and emotion. Decision making is perceived as the competition between an emotion system that is automatic but prone to error and a reason system that is slow but rational. The reason system (in "the head") reins in our impulses (from "the heart") and overrides our snap judgments. However, from Darwin's evolutionary perspective, emotion is adaptive, guiding us to make sound decisions in uncertainty. Here, drawing findings from behavioral economics and neuroeconomics, we provide a new model, labeled "The interactive influence model of emotion and cognition," to elaborate the relationship of emotion and reason in decision making. Specifically, in our model, we identify factors that determine when emotions override reason and delineate the type of contexts in which emotions help or hurt decision making. We then illustrate how cognition modulates emotion and how they cooperate to affect decision making.

Age-related changes in reappraisal of appetitive cravings during adolescence

The ability to regulate temptation and manage appetitive cravings is an important aspect of healthy adolescent development, but the neural systems underlying this process are understudied. In the present study, 60 healthy females evenly distributed from 10 to 23years of age used reappraisal to regulate the desire to consume personally-craved and not craved unhealthy foods. Reappraisal elicited activity in common self-regulation regions including the dorsal and ventral lateral prefrontal cortex (specifically superior and inferior frontal gyri), dorsal anterior cingulate cortex, and inferior parietal lobule. Viewing personally-craved foods (versus not craved foods) elicited activity in regions including the ventral striatum, as well as more rostral and ventral anterior cingulate cortex extending into the orbitofrontal cortex. Age positively correlated with regulation-related activity in the right inferior frontal gyrus, and negatively correlated with reactivity-related activity in the right superior and dorsolateral prefrontal cortices. Age-adjusted BMI negatively correlated with regulation-related activity in the predominantly left lateralized frontal and parietal regions. These results suggest that the age-related changes seen in the reappraisal of negative emotion may not be as pronounced in the reappraisal of food craving. Therefore, reappraisal of food craving in particular may be an effective way to teach teenagers to manage cravings for other temptations encountered in adolescence, including alcohol, drugs, and unhealthy food.

Fear, excitement, and financial risk-taking

Can fear trigger risk-taking? In this paper, we assess whether fear can be reinterpreted as a state of excitement as a result of contextual cues and promote, rather than discourage, risk-taking. In a laboratory experiment, the participants' emotional states were induced (fear vs. control), followed by a purportedly unrelated financial task. The task was framed as either a stock market investment or an exciting casino game. Our results showed that incidental fear (vs. control) induced risk-averse behaviour when the task was framed as a stock investment decision. However, fear encouraged risk-taking when the very same task was framed as an exciting casino game. The impact of fear on risk-taking was partially mediated by the excitement felt during the financial task.