Event-Related Potentials in Relation to Risk-Taking: A Systematic Review

Decision-making and performance in the Iowa Gambling Task: recent ERP findings and clinical implications

The Iowa Gambling Task (IGT) is a widely used tool for assessing decision-making in clinical populations. In each trial of the task, participants freely select from different playing card decks that vary in the magnitude and frequency of rewards and punishments. Good decks offer relatively smaller rewards on each trial yielding greater overall winnings while bad decks result in a net loss over time as high penalties negate any rewards earned. Comparing participants' rate of selecting good to bad decks can provide insight into learning in uncertain conditions across time. However, inconsistent patterns of deficits and learning within clinical and control populations are often observed in the task (eg., in depression). Thus, a clearer mechanistic understanding of the IGT is needed to fully understand the decision-making process. The goal of the current review is to synthesize the predominant empirical and theoretical literature of the IGT using event-related potentials (ERPs) derived from electroencephalogram (EEG). The review then explores how modifications of the IGT allow for event-related potentials to be captured at each stage of decision-making. Lastly, the review discusses how the modified version with ERPs can be further applied to directly assess the impact of emotion processing on decision-making, using findings from depression research as an example.

Attachment Security Priming Reduces Risk-Taking and Emotional Responses to Loss

We examined the effects of attachment security priming on economic risky decisions and their neural underpinnings. Participants were exposed to either attachment security primes (N = 28) or control primes (N = 29) and then completed a gambling task while connected to an electroencephalogram system. We anticipated that attachment security priming would affect risky decision-making at both the behavioral and neural levels. Feedback-related negativity (FRN) and P3 components were analyzed. At the behavioral level, participants in the attachment security priming group selected less risky choices than those in the control group. At the neural level, participants exposed to attachment security primes exhibited attenuated FRN but no significant difference in P3 amplitude. The regression analysis showed that small P3 amplitude predicted large risk-taking tendencies in the control priming group, whereas P3 amplitude did not significantly predict risk-taking tendencies in the attachment security priming group. These findings suggest how boosted attachment security affects economic risky decisions: It lowers people's affective reactions to undesirable outcomes and buffers people's underestimation of the outcome salience. Specifically, attachment security seems to attenuate risk-taking by preventing people from down playing the significance of outcomes. Our findings extend existing knowledge by demonstrating attachment security priming ability to reduce risk-taking tendencies beyond naturalistic to economic decisions.

Good luck or bad luck? The influence of social comparison on risk-taking decision and the underlying neural mechanism

The present study aimed to investigate the impact of social comparison on risk-taking behaviors and the neural underpinnings within a competitive context. Participants who thought they were playing against a stranger in a gambling task were actually playing against a programmed computer. Eighty-eight college students were assigned to one of three comparison conditions (downward, upward, and parallel) by varying the probability of gain. Behavioral results showed that disadvantage led to increased risk-taking. Event-related potential data analyses showed, in the parallel comparison condition, a significantly larger Feedback-Related Negativity (FRN) was induced by the self's safe decision than the risky decision and by loss rather than gain. However, in the upward and downward comparison conditions, larger FRN emerged solely in response to the loss of risky rather than safe decisions. On the P3 component, participants in the upward comparison condition showed no significant difference in response to their gain or loss, while the other two conditions did. The highest P3 amplitude, delta/theta power, and aperiodic activity were found in the closely matched condition. Finally, in the downward comparison condition, a stronger delta/theta power was correlated with a less risky decision. Overall, the findings indicate that parity heightens emotional arousal and engages more cognitive resources.

Enhancing cognitive control of our decisions: Making the most of humor during the IGT in females and males

We studied the impact of humor on the Iowa Gambling Task (IGT) decision-making performance and the cognitive control exerted during this task, considering sex as a moderator, and examined whether cognitive control mediated the influence of humor on decision-making. Sixty participants (30 females) performed an extended version of the IGT (500 trials divided into 20 blocks). We randomly assigned them to either an experimental group (Humor Group; Hg; n = 30), where humorous videos were interspersed in the decision-making trials or a control group (Non-Humor Group; NHg; n = 30), where nonhumorous videos were interspersed in the decision-making trials. We recorded participant performance and feedback-related negativity (FRN) and P3b event-related potentials (ERP) during IGT feedback as task monitoring and attention allocation indicators, respectively. We expected that whereas humor would improve IGT decision-making under risk in females during the last blocks (17-20) as well as cognitive control (specifically attention allocation and task monitoring) across the entire IGT, it would impair them in males. Contrary to our expectations, humor improved IGT decision-making under risk for both sexes (specifically at blocks 19 and 20) and attention allocation for most IGT blocks (P3b amplitudes). However, humor impaired IGT decision-making under ambiguity in males during the block six and task monitoring (FRN amplitudes) for most IGT blocks. Attention allocation did not mediate the beneficial effect of humor on decision-making under risk in either sex. Task monitoring decrements fully mediated the humor's detrimental influence on men's decision-making under ambiguity during block six.

Does cognitive control mediate the relationship between peer presence and adolescent risk-taking? An ERP study

Peer presence influences risk-taking behavior, particularly in adolescence. Based on the dual system model, this event-related potential study examined whether and how the presence of a peer displayed a preference for risky behavior would increase adolescents' risk-taking by disrupting their cognitive control processes in either emotional or non-emotional contexts. A sample of 106 adolescents (17-19 years of age) completed two Stoop tasks and a Balloon Analog Risk Task under three peer presence conditions. Results revealed that compared to other conditions, the presence of a risk-averse peer caused adolescents to make safer decisions through improving their conflict monitoring (more negative N200-diff), whereas a risk-preference peer's presence led adolescents to more risky decisions through disrupting their conflict resolution (more positive N450-diff) but they were only observed on the Emotional Stroop task. These findings suggest that different peer presence contexts could increase or decrease adolescents' risk-taking behaviors by influencing their cognitive control under an emotional context rather than in a non-emotional context.

Interpersonal distance affects advisors' responses to feedback on their advice: Evidence from event-related potentials

Advisors typically receive two types of feedback: whether their advice is accepted and benefits the advisee. However, the effect of interpersonal distance on advisors' feedback responses remains unexplored. Therefore, to examine this association, we used an advice-giving task in which participants acted as advisors to either friends or strangers through event-related potentials (ERP). Participants received feedback reflecting whether their advice was accepted or rejected and the advisee's outcome (gains or losses). Participants' electroencephalograms were recorded when receiving feedback. Results revealed that rejections from friends elicited stronger feedback-related negativity (FRN) than acceptances from friends. Furthermore, acceptances from friends triggered larger late positive components (LPCs) than rejections from friends. No such effects were observed when the advisee was a stranger. Moreover, a stronger FRN was observed for losses than gains when strangers accepted the advice; however, this difference was not observed when strangers rejected the advice. In addition, friends' gains elicited a larger P300 than losses, regardless of whether friends accepted the advice; however, for strangers, this P300 difference was observed only when the advice was accepted. When strangers accepted the advice, gains elicited larger LPCs than losses; however, this difference was not observed when strangers rejected the advice. These results revealed that the interpersonal distance between people affected how they responded to feedback on advice. This was demonstrated by the neural responses related to expectations, motivational significance, and emotional arousal. It also suggests that the psychological processes by which interpersonal distance influences feedback processing change over the stages.

Decomposing loss aversion from a single neural signal

People often display stronger aversion to losses than appetite for equivalent gains, a widespread phenomenon known as loss aversion. The prevailing theory attributes loss aversion to a valuation bias that amplifies losses relative to gains. An alternative account attributes loss aversion to a response bias that avoids choices that might result in loss. By modeling the temporal dynamics of scalp electrical activity during decisions to accept or reject gambles within a sequential sampling framework, we decomposed valuation bias and response bias from a single event-related neural signal, the P3. Specifically, we found valuation bias manifested as larger sensitivity of P3 to losses than gains, which was localizable to reward-related brain regions. By contrast, response bias manifested as larger P3 preceding gamble acceptance than rejection and was localizable to motor cortex. Our study reveals the dissociable neural biomarkers of response bias and valuation bias underpinning loss-averse decisions.

The impact of social hierarchies on neural response to feedback evaluations after advice giving

Advisors generally evaluate advisee-relevant feedback after advice giving. The response to these feedback-(1) whether the advice is accepted and (2) whether the advice is optimal-usually involves prestige. Prior literature has found that prestige is the basis by which individuals attain a superior status in the social hierarchy. However, whether advisors are motivated to attain a superior status when engaging in advice giving remains uncharacterized. Using event-related potentials, this study investigates how advisors evaluate feedback after giving advice to superior (vs. inferior) status advisees. A social hierarchy was first established based on two advisees (one was ranked as superior status and another as inferior status) as well as participants' performance in a dot-estimation task in which all participants were ranked as medium status. Participants then engaged in a game in which they were assigned roles as advisors to a superior or inferior status advisee. Afterward, the participants received feedback in two phases. In Phase 1, participants were told whether the advisees accepted the advice provided. In Phase 2, the participants were informed whether the advice they provided was correct. In these two phases, when the advisee was of superior status, participants exhibited stronger feedback-related negativity and P300 difference in response to (1) whether their advice was accepted, and (2) whether their advice was correct. Moreover, the P300 was notably larger when the participants' correct advice led to a gain for a superior-status advisee. In the context of advice giving, advisors are particularly motivated to attain a superior status when the feedback involving social hierarchies, which is reflected in higher sensitivity to feedback associated with superior status advisees at earlier and later stages during feedback evaluations in brains.

Impaired neural response to reward feedback in children with high schizotypal traits: Evidences from an ERP study

Reward processing deficit is a core feature of schizophrenia, however, it remains unclear whether reward processing is impaired in individuals with high schizotypy. In this study, 27 high schizotypal trait and 25 control group children were screened by the Chinese version of the Schizotypal Personality Questionnaire for Children (SPQC). We recorded their brain activity (event-related potentials, ERPs) while they completed a simple gambling task. In the early semi-automatic processing stage, small losses s evoked a more negative feedback-related negativity (FRN) in the high schizotypy group than that in control group, and the large wins evoked a less positive reward positivity (RewP) in the high schizotypy group than that in the control group. In the later cognitive appraisal stage, the Feedback-P3 (Fb-P3) amplitude was smaller in the schizotypy group than in control group. These results provided evidence that the abnormalities of outcome evaluation exist in the schizotypy children. Pending replications and longitudinal studies, the FRN, RewP and the P3 might represent a psychophysiological marker of risk for schizophrenia.

Event-related Potentials Corresponding to Decision-making Under Uncertain Conditions

BACKGROUND

Decision-making is essential to human functioning, and resolving uncertainty is an essential part of decision-making. Impaired decision-making is present in many pathological conditions, and identifying markers of decision-making under uncertainty will provide a measure of clinical impact in future studies of therapeutic intervention for impaired decision-making.

OBJECTIVE

To describe EEG event-related potentials (ERPs) correlating with decision-making under uncertain conditions when compared with certain conditions.

METHOD

We used a novel card-matching task based on the Wisconsin Card Sorting Test to describe the neural correlates of uncertainty, as measured by EEG, in a group of 27 neurotypical individuals. We evaluated 500-ms intervals in the 2 seconds after card presentation to identify ERPs that are associated with maximal uncertainty compared with maximal certainty.

RESULTS

After correcting for multiple comparisons, we identified an ERP in the 500-1000-ms time frame (certain > uncertain, max amplitude 12.73 µV, latency 914 ms) in the left posterior inferior region of the scalp. We also found a P300-like ERP in the left frontal and parietal regions in the 0-500-ms time frame when the individuals received correct versus incorrect feedback (incorrect feedback > correct feedback, max amplitude 1.625 µV, latency 339 ms).

CONCLUSION

We identified an ERP in the 500-1000-ms time frame (certain > uncertain) that may reflect the resolution of uncertainty, as well as a P300-like ERP when feedback is presented (incorrect feedback > correct feedback). These findings can be used in future studies to improve decision-making and resolve uncertainty on the described markers.

The modulation of pain in reward processing is reflected by increased P300 and delta oscillation

Pain elicits the desire for a reward to alleviate the unpleasant sensation. This may be a consequence of facilitated neural activities in the reward circuit. However, the temporal modulation of pain on reward processing remains unclear. We addressed this issue by recording electroencephalogram when participants received win or loss feedback in a simple gambling task. Pain treatment was conducted on 33 participants with topical capsaicin cream and on 33 participants with hand cream as a control. Results showed that pain generally increased the P300 amplitude for both types of feedback but did not affect feedback-related negativity (FRN). A significant interaction effect of treatment (painful, non-painful) and outcome (win, loss) was observed on delta oscillation as pain only enhanced the power of win feedback. In addition, the FRN and theta oscillation responded more to loss feedback, but this effect was unaffected by pain. These findings indicate that pain may enhance secondary value representation and evaluation processes of rewards, but does not influence primary distinction of reward or reward expectation. The temporal unfolding of how pain affects reward-related neural activities highlights the prominent impact of pain on high-level cognitive processes associated with reward.

Distinct neural dynamics underlying risk and ambiguity during valued-based decision making

Uncertainty can be fractioned into risk and ambiguity psychologically and neurobiologically. However, whether and how risk and ambiguity are dissociated in terms of neural dynamics during value-based decision making remain elusive. The present event-related potential (ERP) study addressed these issues by asking participants to perform a wheel-of-fortune task either during a risky context (Experiment 1; N = 30) where outcome probability was known or during an ambiguous context (Experiment 2; N = 30) where outcome probability was unknown. Results revealed that the cue-P3 was more enhanced for risk versus ambiguity during the anticipatory phase, whereas the RewP was more increased for ambiguity than risk during the consummatory phase. Moreover, the SPN and the fb-P3 components were further modulated by the levels of risk and ambiguity, respectively. These findings demonstrate a neural dissociation between risk and ambiguity, which unfolds from the anticipatory phase to the consummatory phase.

Bid outcome processing in Vickrey auctions: An ERP study

Online retailers often sell products using a socially competitive second-price sealed-bid auction known as a Vickrey auction (VA), an incentivized demand-revealing mechanism used to elicit players' subjective values. The VA presents a situation of risky decision-making, which typically implements value processing and a loss aversion mechanism. Neural outcome processing of VA bids are not known; this study explores this for the first time using EEG. Twenty-eight healthy participants bid on household items against an anonymous, computerized opponent. Bid outcome event-related potentials were predicted to differentiate between three conditions: outbid (no-win), large margin win (bargain), and small margin win (snatch). Individual loss aversion values were evaluated in a separate behavioral experiment offering gains or losses of variable amounts but equal chances against an assured gain. Processing outcomes of VA bids were associated with a feedback-related negativity (FRN) potential with a spatial maximum at the vertex (251-271 ms), where bargain win trials resulted in greater FRN amplitudes than snatch win trials. Additionally, a P300 potential was sensitive to win versus no-win outcomes and to retail price. Individual loss aversion level did not correlate with the strength of FRN or P300. Results show that outcome processing in a VA is associated with FRN that differentiates between relatively advantageous and less advantageous gains, and a P300 that distinguishes between the more and less expensive auction items. Our findings pave the way to an objective exploration of economic decision-making and purchasing behavior involving a widely popular auction.

Scarcity Enhances Outcome Evaluation in the Present: Electroencephalography Evidence

Scarcity goods have generally been perceived as high in value in real-world and empirical studies. However, few studies have investigated this value over time, such as performance in intertemporal decision making. This study’s chief objective was to determine how scarcity evaluation changes temporally. We used the electroencephalogram technique and an outcome evaluation task with the valuation of scarcity and ordinary rewards delivered at different times to explore the effect of scarcity on delay discounting. The feedback-related negativity (FRN) results show that ordinary goods were associated with a more negative amplitude than scarcity goods, and that rewards delivered in the future evoked more negative deflection compared to those delivered immediately. The prominent FRN effect was derived mainly from ordinary trials rather than scarcity trials in the immediate condition and in the future rather than only in the immediate condition. The Frontal Asymmetry Index (FAI) results show that the scarcity condition was associated with greater relative left frontal cortical activity than the ordinary condition when delivered immediately. The frontal asymmetry indicated greater approach motivation. Our electrophysiology data indicate that scarcity goods have a perceived high value, particularly when delivered immediately.

Reward-based decision-making in mesial temporal lobe epilepsy patients with unilateral hippocampal sclerosis pre- and post-surgery

BACKGROUND

Correct functioning of the reward processing system is critical for optimizing decision-making as well as preventing the development of addictions and/or neuropsychiatric symptoms such as depression, apathy, and anhedonia. Consequently, patients with mesial temporal lobe epilepsy due to unilateral hippocampal sclerosis (mTLE-UHS) represent an excellent opportunity to study the brain networks involved in this system.

OBJECTIVE

The aim of the current study was to evaluate decision-making and the electrophysiological correlates of feedback processing in a sample of mTLE-UHS patients, compared to healthy controls. In addition, we assessed the impact of mesial temporal lobe surgical resection on these processes, as well as general, neuropsychological functioning.

METHOD

17 mTLE-UHS patients and 17 matched healthy controls completed: [1] a computerized version of the Game of Dice Task, [2] a Standard Iowa Gambling Task, and [3] a modified ERP version of a probabilistic gambling task coupled with multichannel electroencephalography. Neuropsychological scores were also obtained both pre- and post-surgery.

RESULTS

Behavioral analyses showed a pattern of increased risk for the mTLE-UHS group in decision-making under ambiguity compared to the control group. A decrease in the amplitude of the Feedback Related Negativity (FRN), a weaker effect of valence on delta power, and a general reduction of delta and theta power in the mTLE-UHS group, as compared to the control group, were also found. The beta-gamma activity associated with the delivery of positive reward was similar in both groups. Behavioral performance and electrophysiological measures did not worsen post-surgery.

CONCLUSIONS

Patients with mTLE-UHS showed impairments in decision-making under ambiguity, particularly when they had to make decisions based on the outcomes of their choices, but not in decision-making under risk. No group differences were observed in decision-making when feedbacks were random. These results might be explained by the abnormal feedback processing seen in the EEG activity of patients with mTLE-UHS, and by concomitant impairments in working memory, and memory. These impairments may be linked to the disruption of mesial temporal lobe networks. Finally, feedback processing and decision-making under ambiguity were already affected in mTLE-UHS patients pre-surgery and did not show evidence of clear worsening post-surgery.

Uncovering the effects of bilingual language control on rational decisions: An ERP study

A growing body of research suggests that the language in which bilinguals make decisions affects the rationality of such decisions. Furthermore, bilinguals constantly confront cross-language interference that requires complex language control processes to resolve this competition. However, the relationship between language control and decision-making is unclear. In the current study, we analyze electrophysiological and behavior data elicited from two groups of Chinese-English bilinguals. One group was trained in intensive language switching and then completed the Iowa Gambling Task (IGT) and the other group completed the two tasks in the reverse order. We found that bilinguals who first received language switching training significantly scored higher on the IGT, with the score positively correlating with L1 and L2 switch costs. More importantly, training with language switching first led to an N2 component for L1 switching costs that negatively correlated with both loss feedback-related negativity and the P3 component. These effects did not emerge among the group of bilinguals who performed the IGT first. Taken together, the findings suggest that bilinguals are assisted in making rational decisions by language control on feedback evaluation.

State-independent and -dependent behavioral and neuroelectrophysiological characteristics during dynamic decision-making in patients with current and remitted depression

BACKGROUND

It is unclear whether the altered decision-making (DM) observed in patients with major depressive disorder (MDD) is neurophysiological and whether it improves with remission of depressive symptoms. The aim of this study was to identify developmental patterns of DM behavior, related cognitive characteristics, and electrophysiological abnormalities in patients with MDD across clinical stages.

METHODS

A sample of 48 first-episode MDD patients (FD group), 41 remitted MDD patients (RD group), and 43 healthy controls (HCs) completed psychometric assessments and performed the balloon analogue risk task (BART) while event-related potentials (ERPs) were recorded.

RESULTS

The RD group had lower depressiveness, self-blame, rumination, and catastrophizing tendencies, and higher mental resilience scores than the FD group, but retained significant differences from HCs. MDD patients showed a more conservative DM strategy than HCs, with no significant difference between the FD and RD groups. Compared to the FD group, the RD group had a smaller FRN for negative feedback and a trend toward a smaller P3 for positive feedback. Compared with HCs, the RD group had a smaller P3 during the positive feedback phase. FRN amplitude correlated positively with depression level and negatively with mental resilience.

LIMITATIONS

Because a comparative cross-section design was employed, longitudinal studies are needed to make causal inferences.

CONCLUSION

MDD patients presented a stable risk-avoidance bias in actively depressed and remission periods, consistent with a state-independent impairment pattern. Significantly reduced FRN amplitudes during remission indicated a state-dependent impairment pattern, and FRN amplitudes correlated with depression level. An abnormal feedback P3 component may be a state-independent characteristic that may become more pronounced with MDD progression.

Effects of mental fatigue on risk preference and feedback processing in risk decision-making

Mental fatigue is a common phenomenon in modern people, especially after a long period of mental work. Individuals frequently have to make critical decisions when in a mentally fatigued state. As an important and complex cognitive function, risk decision-making might be influenced by mental fatigue, which is consequent with increased distraction and poor information processing. However, how mental fatigue shapes individuals’ decision-making remains relatively unclear. The purpose of this study was to examine the effect of mental fatigue on risk decision-making performance and risk-preference in a simple gambling task, using both behavioral methods and event-related potential techniques. Forty young adults were divided into a mental fatigue group and a no-fatigue group and participated in the experiments. Results showed that individuals with mental fatigue tended to be more risk-averse than those without fatigue when facing risk options. The P300 amplitudes were smaller and FRN amplitudes were larger in the mental fatigue group than in the no-fatigue group. These findings provide insight into a relationship between mental fatigue and risk decision-making, from the perspective of the neurological mechanism.

The Impact of the Scale of Third-Party Logistics Guaranteeing Firms on Bank Credit Willingness in Supply Chain Finance: An ERP Study

Supply chain financing guaranteed by third-party logistics (3PL) firms is an effective way to solve the financing difficulties of small and medium-sized enterprises (SMEs). Studies have explored factors that affect the willingness of supply chain financial credit providers under guarantee of 3PL firms (e.g., the scale of financing enterprises and credit). However, whether the scale of 3PL firms will affect the bank’s credit decision has not been studied, as well as the neural processing of credit decisions. To clarify these issues, this study extracted behavioral and event-related potentials (ERPs) data when participants performed a selection task of judging whether to grant credit to guaranteed financing-seeking enterprises according to the large or small scale of the 3PL guaranteeing firms. The behavioral results showed that under the condition of a large-scale 3PL guaranteeing firm, the willingness to provide credit to SMEs was higher than that under the condition of a small-scale 3PL guaranteeing firm. This finding indicates there was credit scale discrimination against 3PL guaranteeing firms in supply chain finance. The ERP results showed that compared with the condition of a large-scale 3PL guaranteeing firm, a greater N2 amplitude was induced under the condition of a small-scale 3PL guaranteeing firm, which indicated that credit decision makers experienced greater perceived risk and more decision-making conflict. In contrast, a larger LPP amplitude was detected under the condition of a large-scale 3PL guaranteeing firm (as opposed to a small-scale firm), which indicated that large-scale 3PL guaranteeing firms received more positive comments and more positive emotions from credit decision makers than small-scale 3PL guaranteeing firms. Based on these results, this study reveals the cognition process of credit decision makers regarding the impact of the 3PL guaranteeing firm scale on the willingness to provide credit in supply chain finance and explains the theory of credit scale discrimination from the perspective of decision neuroscience.

Using event-related potentials to study food-related cognition: An overview of methods and perspectives for future research

Electroencephalography (EEG), and the measure of event-related potentials (ERPs) in particular, are useful methods to study the cognitive and cerebral mechanisms underlying the perception and processing of food cues. Further research on these aspects is necessary to better understand how cognitive functioning may influence food choices in different populations (e.g. obese individuals, individuals with eating disorders). To help researchers in designing future studies, this article provides an overview of the methods used in the current literature on ERPs and food-related cognition. Several methodological aspects are explored to outline interesting perspectives for future research, including discussions on the main experimental tasks used, the cognitive functions assessed (e.g. inhibitory control, attentional processing), the characteristics of the participants recruited (e.g. weight status, eating behaviors), and the stimuli selected (e.g. food pictures, odors). The issues generated by some of these methodological choices are discussed, and a few guidelines are provided.

Hypersensitivity to negative feedback during dynamic risky-decision making in major depressive disorder: An event-related potential study

BACKGROUND

Patients with major depressive disorder (MDD) exhibit a diminished ability to think or concentrate, indecisiveness, and altered sensitivity to reward and punishment. These impairments can influence complex risk-related decision-making in dynamic environments. The neurophysiological mechanisms mediating MDD effects on decision-making behavior are not well understood.

METHODS

Patients with MDD (N=50) and healthy controls (HC, N=40) were enrolled. They completed a series of psychometric tests. Event-related potentials (ERPs) were recorded during the performance of a well-validated modified version of Balloon Analogue Risk Task (BART).

RESULTS

BART behavior data were similar across the two groups except the MDD patients showed more stability of risk aversion. Neurophysiologically, BART losses generated larger P3 amplitudes than wins, and MDD patients had larger feedback-related negativity (FRN) components than HCs in response to negative feedback (losses). Greater FRN amplitudes in response to losses correlated with higher levels of depressiveness, psychological pain, and anhedonia. A longer FRN latency in MDD patients was associated with more severe suicidal ideation.

LIMITATIONS

The findings are based on cross-sectional data, which are not powerful enough to make causal inferences.

CONCLUSION

MDD patients exhibit enhanced FRNs in the frontocentral region after receiving negative feedback in a risky decision-making task. FRN magnitude is associated with depressive symptom severity. Punishment hypersensitivity may contribute to the maintenance of depressive symptoms in MDD patients, and FRN may be a useful index of such hypersensitivity.

Investigating the consistency of ERPs across threatening situations among children and adolescents

Threat sensitivity is thought to be a precursor for anxiety. Yet it remains unknown whether individuals have consistently high neural activation to different threatening situations. The current study (N = 161, M_age = 11.26, SD = 1.79) used three ERPs from different threat-related events: 1) the P3 to receiving negative feedback; 2) the ERN to making mistakes; 3) the N170 to viewing angry faces. Participants also completed self-report measures of threat sensitivity, impulsivity, and demographics. In a follow-up analysis, we also investigated whether the results replicate when using the difference score for each ERP. Youth with higher self-reported sensitivity to threats and lower self-reported impulsivity had consistently higher neural activation to threatening situations. Males also had consistently higher neural activation to threats compared with females. When using the difference score, we found that youth with higher self-reported threat sensitivity had consistently higher neural activation to threats than nonthreats. Although it is common for youth to have high neural activation during at least one threatening situation (e.g., making mistakes), only ~12% of youth have consistently high neural activation across a variety of different threats. Thus, detecting youth who are sensitive to a variety of different threats may be an important avenue to investigate to identify youth most at risk for the development of anxiety.

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.

Context-based interpersonal relationship modulates social comparison between outcomes: an event-related potential study

Social comparison is a common behavior that largely determines people's experience of decision outcome. Previous research has showed that interpersonal relationship plays a pivotal role in social comparison. In the current study, we investigated whether the manipulation of context-based relationship would affect participants' comparison of self-outcome and other-outcome. Participants first finished a trust game with likeable (dislikeable) partner and then they were involved in a gambling task and observed the outcomes for themselves and for partners. According to self-reports, participants were more satisfied with likeable partner's gains than losses only when they received gains, but they were always more satisfied with dislikeable player's losses compared to gains. Event-related potentials including the feedback-related negativity (FRN), P3 and late positive component (LPC) were sensitive to context-based relationship. Specifically, the prediction error signal (indexed by the FRN) was largest when participants received losses but dislikeable player received gains. Meanwhile, the P3 indicates that participants had stronger motivation to outperform dislikeable player. Finally, the LPC was larger when participants received the same outcomes with dislikeable players. In general, our results support the key point of the self-evaluation maintenance model that personal closeness modulates subjective sensitivity when drawing a comparison of one's outcomes with other's outcomes.

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.

Less Expectation, Less Pain: Low Wealth Alleviates Sense of Unfairness

Objective wealth plays an important role in social interaction and economic decision making. Previous studies indicate that objective wealth of others may influence the way we participate in resources allocation. However, the effect of objective wealth on responses to fairness-related resource distribution is far from clear, as are the underlying neural processes. To address this issue, we dynamically manipulated proposers' objective wealth and analyzed participants' behavior as responders in a modified Ultimatum Game, during which event-related potentials were recorded. Behavioral results showed that participants were prone to reject unfair proposals although that rejection would reduce their own benefit. Importantly, participants were more likely to accept unfair offers from proposers with low objective wealth than from proposers with high objective wealth, with a drastic increase in acceptance rates of unfair offers from 32.79 to 50.59%. Further electrophysiological results showed that there was significantly enhanced feedback-related negativity amplitude toward proposers with high (relative to low) objective wealth for unfair offers. Furthermore, the late frontal negativity amplitude was larger for all the conditions which are not high-fair, which might be the only option that did not elicit any ambiguity. These findings suggest a strong role of proposers' objective wealth in modulating responders' behavioral and neural responses to fairness.

The Impact of Social Crowding on Consumers' Online Mobile Shopping: Evidence from Behavior and ERPs

Purpose

Social crowding refers to the extent of social presence and proximity to others. A large number of studies have explored the effect of social crowding on consumers' feelings and behaviours in real shopping scenes, whereas few studies have examined the potential marketing effect of social crowding on online mobile consumption behaviour despite mobile commerce's increasing popularity in recent years. The current intends to explore the effect of social crowding on online mobile purchase and its underlying neural basis.

Methods

The current study employed a questionnaire survey and an implicit panic buying experiment, in which the participants were asked to press the button as soon as possible to buy the showed product. A 2-level social crowding (low vs high) × 2-level feedback of panic buying (success vs fail) design was employed to test the negative impact of social crowding on consumers' online mobile purchase intention by using electroencephalogram (EEG) recordings.

Results

Behaviorally, participants showed higher purchase intention in low social crowding environment compared with the high crowding condition. The event-related potentials (ERPs) results indicated that consumers had a higher affective/motivational evaluation (reflected in a smaller feedback-related negativity (FRN) amplitude) regarding the successful rather than the failing feedback in the low social crowding condition. However, this difference was not detected in the high social crowding condition. Meanwhile, more attentional resources (reflected in a greater P300 amplitude) were directed toward processing the feedback outcomes in the low rather than the high social crowding condition.

Conclusion

The current study provided neurophysiological response that social crowding negatively influences consumers' online purchase intention. Some implications for theory and practice were also discussed.

FRN and P3 during the Iowa gambling task: The importance of gender

Previous research has shown gender-related psychobiological differences in risky and competitive strategies that affect win and loss outcomes. In addition, some studies have found differences in the decision-making process, with women taking longer to reach the same performance as men. However, the underlying neural mechanisms remain unclear. The present study aimed to investigate gender differences in behavioral performance and neural correlates during a decision-making task, the Iowa Gambling Task (IGT). Forty healthy young adults (23 men and 17 women) performed the IGT while the feedback-related negativity (FRN) and P3 were recorded as neural correlates of feedback processing. No gender differences were observed in the behavioral performance on the IGT after 100 and 150 trials, or in the P3 component. In women, but not in men, the FRN component showed a greater amplitude for losses than for wins. There were no significant gender-related differences in behavioral performance, and men and women revealed a similar learning process on the IGT. At the neural level, no direct differences between men and women were observed in the feedback processing stage for the FRN or P3. However, our results indicate that women showed greater sensitivity to losses than to wins during the decision-making task, as reflected in the FRN component.

Social distance modulates the process of uncertain decision-making: evidence from event-related potentials

Purpose

Social distance affects risk perception in uncertain decision-making, but how this effect works and the mechanism of how social distance influences the early processing stages of uncertain decision-making are still unclear. This investigation aimed to explore how social distance influences risk-taking during uncertain decision-making using the Iowa Gambling Task with recording of event-related potentials.

Methods

A total of 57 healthy subjects (36 female) participated in the modified single-choice Iowa Gambling Task when they gambled based on three quantified social distances (self, friend, and stranger). The social distance between participant and beneficiary was quantified on a scale of 0–100 points, with 0 representing self, 5 representing a close friend, and 100 representing a stranger.

Results

Three stages of uncertain decision-making were analyzed. Behavioral results showed that social distance worked interactively with choice frame, and high social distance made people choose a more advantageous deck and a less disadvantageous deck than low social distance. The P300 in the choice-evaluation stage, which reflects stimulus discrimination, directly proved this result by showing that gambling for a stranger caused higher P300 when evaluating an advantageous deck and lower P300 when evaluating a disadvantageous deck than for others. Decision preceding negativity in the response-selection stage represents the anticipation of risky choices: this was larger with high social distance when choosing a disadvantageous deck. Feedback-related negativity and feedback-related P300 had motivational significance, showing smaller amplitudes when gambling for a stranger than for oneself.

Conclusion

These results provide evidence that social distance works interactively with choice frames of uncertain decision-making. People at high social distance are more risk-taking in an advantageous frame and more risk-avoid ant in a disadvantageous frame.

Neural Dynamics Underlying the Evaluation Process of Ambiguous Options During Reward-Related Decision-Making

Ambiguous decision-making involves different processes. However, few studies have focused on the evaluation process. In this study, event-related potentials (ERPs) and event-related spectrum perturbation (ERSP) techniques were used to explore the neural dynamics underlying the evaluation process of ambiguous options through an ambiguous choice task. Some important results emerged. We found a preference for lotteries with low ambiguity regardless of reward amount, suggesting that subjects were averse to ambiguity in our paradigm. Our electroencephalography (EEG) results clarified the neural dynamics underlying the evaluation process. In the time domain, lotteries with both a larger reward and lower ambiguity elicited a larger P3. In the time-frequency domain, larger amplitudes of delta activity at 200–400 ms and 500–600 ms post-stimulus were elicited by lotteries with low ambiguity. Moreover, lotteries with a larger reward elicited larger amplitudes of delta activity at 400–600 ms post-stimulus. Our ERPs and ERSP results suggested that individuals in our paradigm evaluated ambiguity and reward separately, and then integrated their evaluation to form subjective values of different lotteries.

Decision- and feedback-related brain potentials reveal risk processing mechanisms in patients with alcohol use disorder

Individuals with alcohol use disorder (AUD) are aware of the risks of alcohol abuse yet continue risky drinking. Research indicates that dysfunctional decision processes and trait variables such as impulsivity contribute to this awareness-behavior discrepancy. The present study focused on decision-related versus feedback-related processes as potential contributors to decision making in AUD by examining the relationship between decision choices and decision- and feedback-related ERP phenomena in the balloon analogue risk task (BART). N = 39 AUD and n = 35 healthy comparison participants (HC) performed the BART modified for EEG assessment. In each of 100 runs, participants made a series of choices about whether to pump up a virtual balloon, which popped pseudorandomly, ending the run. Alternatively, participants ended the run by pressing a "cash-out" button. Each pump not producing a pop provided .05 €; popping resulted in loss of the run's accumulated gain. Groups made similar choices, though AUD responded more slowly. The decision P3 200-400 ms after decision prompt (balloon) was larger in AUD than in HC, and decision P3 enhancement on high-risk trials predicted choices to pump. Feedback-related negativity (FRN) after loss (relative to cash out) feedback was smaller in AUD than in HC, suggesting indifference to negative feedback. In AUD, high impulsivity was associated with risk-modulated decision P3 but not FRN. Results indicate atypical decision- and feedback-related processes that could contribute to difficulties in engaging with daily challenges effectively.

Electrophysiological indexes of option characteristic processing

Decision making is vital to human behavior and can be divided into multiple stages including option assessment, behavioral output, and feedback evaluation. Studying how people evaluate option characteristics in the option assessment stage would provide important knowledge on human decision making. Using the event-related potential (ERP) method, the present study investigated the neural mechanism of evaluating two types of option characteristics (i.e., reward magnitude and degree of uncertainty) in the temporal dimension. Thirty-five volunteers participated in a monetary gambling task, where they either accepted or rejected gambles. The ERP results showed a double dissociation pattern, with the early P1 component being sensitive to magnitude but insensitive to degree of uncertainty, while both the N2 and P3 components showed the opposite pattern. The results suggest that these two fundamental option features are assessed rapidly and separately in the human brain. Specifically, small magnitude elicited a larger P1 than did large magnitude, indicating that the perceptual and attentional processing of options is modulated by magnitude. Both the N2 and P3 amplitudes evoked by the risky context were larger than those evoked by the ambiguous one, reflecting that more cognitive conflicts and resources are involved in the former condition. Furthermore, the P1, but not the N2 or P3, amplitude was sensitive to decisions, suggesting that early attentional processes may contribute to human decision making. These findings may provide insight into the temporal mechanisms of option characteristic processing.

Neural Dynamics of Processing Probability Weight and Monetary Magnitude in the Evaluation of a Risky Reward

Risky decision-making involves risky reward valuation, choice, and feedback processes. However, the temporal dynamics of risky reward processing are not well understood. Using event-related brain potential, we investigated the neural correlates of probability weight and money magnitude in the evaluation of a risky reward. In this study, each risky choice consisted of two risky options, which were presented serially to separate decision-making and option evaluation processes. The early P200 component reflected the process of probability weight, not money magnitude. The medial frontal negativity (MFN) reflected both probability weight and money magnitude processes. The late positive potential (LPP) only reflected the process of probability weight. These results demonstrate distinct temporal dynamics for probability weight and money magnitude processes when evaluating a risky outcome, providing a better understanding of the possible mechanism underlying risky reward processing.

Cognitive neuroscience can support public health approaches to minimise the harm of 'losses disguised as wins' in multiline slot machines

Video slot machines are associated with both accelerated transition into problematic forms of gambling, as well as psychosocial harm above and beyond other forms of gambling. A growing body of evidence is uncovering how key design features of multiline slot machines produce an inflated experience of reward, despite the fact that these features offer no overall financial benefit to the player. A pernicious example of this are 'losses disguised as wins' (LDWs), which occur when simultaneous bets placed on multiple lines result in a winning combination that returns an amount greater than zero, but less the total wager. These events are usually accompanied by the same celebratory sounds and animations that accompany true wins. We argue that LDWs may leverage neuropsychological phenomena that underlie reinforcement learning and contribute to extended or repetitive use and gambling-related harm. While other characteristics of slot machine gambling have been examined by cognitive neuroscientists, this feature has not yet received attention. Neuroscientific methods can be used to assess the impact of LDWs on the human reward system, to assess the claim that these events are a reinforcing and contributing factor in the development of harmful play. Positive findings would provide further persuasive evidence in support of strategies to minimise gambling harm through the regulation of machine design.