Neurons in human pre-supplementary motor area encode key computations for value-based choice

Adaptive behavior in real-world environments demands that choices integrate over several variables, including the novelty of the options under consideration, their expected value, and uncertainty in value estimation. We recorded neurons from the human pre-supplementary motor area (preSMA), ventromedial prefrontal cortex (vmPFC) and dorsal anterior cingulate to probe how integration over decision variables occurs during decision-making. In contrast to the other areas, preSMA neurons not only represented separate pre-decision variables for each choice option, but also encoded an integrated utility signal and, subsequently, the decision itself. Conversely, post-decision related encoding of variables for the chosen option was more widely distributed and especially prominent in vmPFC. Our findings position the human preSMA as central to the implementation of value-based decisions.

Do people choose happiness? Anticipated happiness affects both intuitive and deliberative decision-making

People make choices among different options for different reasons. We hypothesized that people will choose the options that they believe will make them happier and that this effect of anticipated happiness on decision-making will be moderated by style of thinking (i.e., intuitive or deliberative). In a two-phase online experiment, 15 pairs of options were randomly presented one at a time, and participants indicated the extent to which each option would contribute to their happiness (i.e. anticipated happiness of a choice option). One week later, participants were randomly assigned to make choices on similar pairs of options either by using deliberative thinking or intuitive thinking. Results of a linear mixed-effects model analysis revealed that anticipated happiness influenced choices significantly. However, this occurred independent of whether participants made the choice in a deliberative or in an intuitive mindset. The implications of these findings for understanding the association between decision-making and happiness are discussed.

Memory, Attention, and Choice*

Building on a textbook description of associative memory (Kahana 2012), we present a model of choice in which a choice option cues recall of similar past experiences. Memory shapes valuation and decisions in two ways. First, recalled experiences form a norm, which serves as an initial anchor for valuation. Second, salient quality and price surprises relative to the norm lead to large adjustments in valuation. The model unifies many well-documented choice puzzles, including the attribution and projection biases, inattention to hidden attributes, background contrast effects, and context-dependent willingness to pay. Unifying these puzzles on the basis of selective memory and attention to surprise yields multiple new predictions.

The neural computation of human goal-directed behaviors in complex motivational states

Because the motives behind goal-directed behaviors are often complex, most behaviors result from the interplay between different motives. However, it is unclear how this interplay between multiple motives affects the neural computation of goal-directed behaviors. Using a combination of drift-diffusion modeling and fMRI, we show that the interplay between different social motives changes initial preferences for prosocial behavior before a person makes a behavioral choice. This increase in preferences for the prosocial choice option was tracked by neural responses in the bilateral dorsal striatum, which in turn lowered the amount of information necessary for choosing prosocial behavior. We obtained these results using a paradigm in which each participant performed the same behavior based on different, simultaneously activated motives, or based on each of the motives separately. Thus, our findings provide a model of behavioral choice computation in complex motivational states, i.e., the motivational setting that drives most goal-directed human behaviors.

Integration of social cues and individual experiences during instrumental avoidance learning

Learning to avoid harmful consequences can be a costly trial-and-error process. In such situations, social information can be leveraged to improve individual learning outcomes. Here, we investigated how participants used their own experiences and others' social cues to avoid harm. Participants made repeated choices between harmful and safe options, each with different probabilities of generating shocks, while also seeing the image of a social partner. Some partners made predictive gaze cues towards the harmful choice option while others cued an option at random, and did so using neutral or fearful facial expressions. We tested how learned social information about partner reliability transferred across contexts by letting participants encounter the same partner in multiple trial blocks while facing novel choice options. Participants' decisions were best explained by a reinforcement learning model that independently learned the probabilities of options being safe and of partners being reliable and combined these combined these estimates to generate choices. Advice from partners making a fearful facial expression influenced participants' decisions more than advice from partners with neutral expressions. Our results showed that participants made better decisions when facing predictive partners and that they cached and transferred partner reliability estimates into new blocks. Using simulations we show that participants' transfer of social information into novel contexts is better adapted to variable social environments where social partners may change their cuing strategy or become untrustworthy. Finally, we found no relation between autism questionnaire scores and performance in our task, but do find autism trait related differences in learning rate parameters.

The Lesser Evil? Corruption Voting and the Importance of Clean Alternatives

Surveys show that citizens in all parts of the world have a strong distaste for corruption. At the same time, and contrary to the predictions of democratic theory, politicians involved in the most glaring abuse of public office often continue to receive electoral support. Using an original survey experiment conducted in Spain, this article explores a previously understudied aspect of this apparent paradox: the importance of viable and clean political alternatives. The results suggest that voters do punish political corruption when a clean alternative exists, even when the corrupt candidate is very appealing in other respects. However, when only given corrupt alternatives, respondents become much more likely to tolerate a candidate accused of corruption—even when given a convenient “no-choice” option. I discuss how these results can help us understand corruption voting and why some societies seem to be stuck in a high-corruption equilibrium.

When and why defaults influence decisions: a meta-analysis of default effects

When people make decisions with a pre-selected choice option – a ‘default’ – they are more likely to select that option. Because defaults are easy to implement, they constitute one of the most widely employed tools in the choice architecture toolbox. However, to decide when defaults should be used instead of other choice architecture tools, policy-makers must know how effective defaults are and when and why their effectiveness varies. To answer these questions, we conduct a literature search and meta-analysis of the 58 default studies (pooled n = 73,675) that fit our criteria. While our analysis reveals a considerable influence of defaults (d = 0.68, 95% confidence interval = 0.53–0.83), we also discover substantial variation: the majority of default studies find positive effects, but several do not find a significant effect, and two even demonstrate negative effects. To explain this variability, we draw on existing theoretical frameworks to examine the drivers of disparity in effectiveness. Our analysis reveals two factors that partially account for the variability in defaults’ effectiveness. First, we find that defaults in consumer domains are more effective and in environmental domains are less effective. Second, we find that defaults are more effective when they operate through endorsement (defaults that are seen as conveying what the choice architect thinks the decision-maker should do) or endowment (defaults that are seen as reflecting the status quo). We end with a discussion of possible directions for a future research program on defaults, including potential additional moderators, and implications for policy-makers interested in the implementation and evaluation of defaults.

SEWA MENYEWA (IJARAH) DALAM SISTEM PERBANKAN SYARIAH

Rental transactions in the conventional banking there is no property right transfer, meaning that if the lease term ends, the item is returned to the owner of the leasing object leases that generally does not require the services of a financial institution. Another case in practice because of known Islamic banking financing based on lease agreement - so-called Ijarah lease. In Islamic banking, al-Ijarah divided into 2 types namely: mutlaqah Ijarah or leasing, operating lease is a process that we usually encounter in daily economic activity. In the context of Islamic banking, Ijarah is a lease contract in which a bank or financial institution renting equipment (equipment), a building or goods, to one of its customers by charging fees that have been determined with certainty in advance. While al-Ijarah Al-Muntahia bit-Tamlik is a kind of fusion between the contracts of sale and lease or rental contract rather that ends with ownership of the goods in the hands of the tenant. The nature of transfer of ownership was also distinguishes it from ordinary lease, contained in conventional financial institutions. Al-Ijarah concept in Islamic banking as the lease in general, but what sets it apart is that in Islamic banking there is a lease which at the end of the contract, given the choice/option to customers to have the goods or not, commonly referred to leases purchase.

State-sponsored Retirement Savings Plans

Our chapter evaluates models and features used in emerging state-sponsored retirement saving plans such as Auto IRAs, open multiple employer plans, and marketplaces. These, we show, have enormous potential to raise the number of Americans with access to payroll-deduction retirement saving plans. Plans that can most enhance coverage rates will feature two characteristics: required provision of retirement saving plans by firms, and automatic enrollment of eligible workers. Yet under current legal and regulatory conditions, the Secure Choice option is the only model that enables states to require that employers provide a plan.