The importance of opportunity costs for human vigour

  • Datum: 08.11.2019
  • Uhrzeit: 11:15 - 12:15
  • Vortragende(r): Ulrik Beierholm
  • Durham University
  • Ort: Max Planck House
  • Raum: Lecture Hall
  • Gastgeber: Peter Dayan
The importance of opportunity costs for human vigour

Human decision making at the level of conscious explicit choices has been extensively studied (risky vs certain, immediate vs delayed reward etc.). However most choices we make are implicit choices with little conscious reflection, executed with a vigour that we may not have direct control of.

From a normative viewpoint, when modeling such choices the importance of incorporating opportunity costs (loss of potential gain from alternative choices) is becoming increasingly clear. An influential computational model has proposed a link between opportunity cost, vigour/motivation and neuro modulators such as dopamine.

Based on a simple reaction time task in combination with behavioural, computational and pharmacological methods we find support for the role of opportunity cost in human vigour. These results constitute part of a growing body of evidence for the role of opportunity cost in implicit choices

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