Laboratory experiments established that peer punishment is a powerful cooperation-enhancing institution. However, this evidence centers on punishment that affects punishees immediately, whereas in many out-of-lab instances, punishment only takes effect some time after it has been inflicted. Moreover, studying the consequences of a delay in the effect of punishment could shed light on the channels through which punishment facilitates cooperation. A delay may (a) prevent punishees from immediately responding to the punishment and (b) dissolve the perceived link between received punishment and past behavior. In the present study, we model a situation where punishment affects the punishee 5 periods after it has been inflicted. We find that even under a delay in the effect and feedback of punishment, peer punishment is very effective in facilitating cooperation. However, peer punishment is only efficient when a salient link between received punishment and past contributions is established.
{"title":"When Punishment Strikes Late: The Effect of a Delay in Punishment and Punishment Feedback on Cooperation and Efficiency","authors":"Israel Waichman, Lukas Stenzel","doi":"10.1037/npe0000099","DOIUrl":"https://doi.org/10.1037/npe0000099","url":null,"abstract":"Laboratory experiments established that peer punishment is a powerful cooperation-enhancing institution. However, this evidence centers on punishment that affects punishees immediately, whereas in many out-of-lab instances, punishment only takes effect some time after it has been inflicted. Moreover, studying the consequences of a delay in the effect of punishment could shed light on the channels through which punishment facilitates cooperation. A delay may (a) prevent punishees from immediately responding to the punishment and (b) dissolve the perceived link between received punishment and past behavior. In the present study, we model a situation where punishment affects the punishee 5 periods after it has been inflicted. We find that even under a delay in the effect and feedback of punishment, peer punishment is very effective in facilitating cooperation. However, peer punishment is only efficient when a salient link between received punishment and past contributions is established.","PeriodicalId":45695,"journal":{"name":"Journal of Neuroscience Psychology and Economics","volume":null,"pages":null},"PeriodicalIF":0.7,"publicationDate":"2019-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"74591508","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"医学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Ryan Webb, I. Levy, Stephanie C. Lazzaro, R. Rutledge, P. Glimcher
We assess whether a cardinal model can be used to relate neural observables to stochastic choice behavior. We develop a general empirical framework for relating any neural observable to choice prediction and propose a means of benchmarking their predictive power. In a previous study, measurements of neural activity were made while subjects considered consumer goods. Here, we find that neural activity predicts choice behavior with the degree of stochasticity in choice related to the cardinality of the measurement. However, we also find that current methods have a significant degree of measurement error which severely limits their inferential and predictive performance.
{"title":"Neural Random Utility: Relating Cardinal Neural Observables to Stochastic Choice Behavior","authors":"Ryan Webb, I. Levy, Stephanie C. Lazzaro, R. Rutledge, P. Glimcher","doi":"10.1037/npe0000101","DOIUrl":"https://doi.org/10.1037/npe0000101","url":null,"abstract":"We assess whether a cardinal model can be used to relate neural observables to stochastic choice behavior. We develop a general empirical framework for relating any neural observable to choice prediction and propose a means of benchmarking their predictive power. In a previous study, measurements of neural activity were made while subjects considered consumer goods. Here, we find that neural activity predicts choice behavior with the degree of stochasticity in choice related to the cardinality of the measurement. However, we also find that current methods have a significant degree of measurement error which severely limits their inferential and predictive performance.","PeriodicalId":45695,"journal":{"name":"Journal of Neuroscience Psychology and Economics","volume":null,"pages":null},"PeriodicalIF":0.7,"publicationDate":"2019-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"82307844","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"医学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Supplemental Material for Gaze-Informed Modeling of Preference Learning and Prediction","authors":"","doi":"10.1037/npe0000107.supp","DOIUrl":"https://doi.org/10.1037/npe0000107.supp","url":null,"abstract":"","PeriodicalId":45695,"journal":{"name":"Journal of Neuroscience Psychology and Economics","volume":null,"pages":null},"PeriodicalIF":0.7,"publicationDate":"2019-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"90695855","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"医学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Acknowledgments","authors":"","doi":"10.1037/npe0000110","DOIUrl":"https://doi.org/10.1037/npe0000110","url":null,"abstract":"","PeriodicalId":45695,"journal":{"name":"Journal of Neuroscience Psychology and Economics","volume":null,"pages":null},"PeriodicalIF":0.7,"publicationDate":"2019-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"84622549","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"医学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Due to the limitations of established neuroimaging techniques, in terms of cost, usability, and mobility, a new technology, known as mobile functional near-infrared spectroscopy (fNIRS), has a high potential for applications in marketing research. FNIRS is a noninvasive optical brain imaging technique that combines the measurements of cerebral blood flow and hemodynamic response in a specific brain area when neural activity occurs. Nevertheless, the feasibility of mobile fNIRS has not yet been verified, because it is rarely used in neuroeconomic and neuromarketing studies. The aim of this study was to demonstrate the feasibility of mobile fNIRS for marketing and economic research situations. Twelve subjects viewed three different advertisements of the same product, and then rated these pictures. All pictures showed the same product, but with different surroundings. The surroundings included an attractive female and male, shown to male and, respectively, female subjects, a cat, and a relatively neutral landscape. The results indicate that there are significant differences in the activation of the prefrontal cortex when viewing the different pictures. This was especially noticeable for the sexual picture and the childlike picture compared with the landscape. Also, significant differences were found on the group level and between subgroups. The activation was higher for the childlike picture than for the sexual picture, and this effect was stronger for the female subgroup. In addition, significantly higher activation was found during decision-making processes. The results of the present study suggest that using fNIRS is a promising method for measuring economic decision-making processes and consumer attention.
{"title":"Reading Minds: Mobile Functional Near-Infrared Spectroscopy as a New Neuroimaging Method for Economic and Marketing Research—A Feasibility Study","authors":"S. Meyerding, A. Risius","doi":"10.1037/npe0000090","DOIUrl":"https://doi.org/10.1037/npe0000090","url":null,"abstract":"Due to the limitations of established neuroimaging techniques, in terms of cost, usability, and mobility, a new technology, known as mobile functional near-infrared spectroscopy (fNIRS), has a high potential for applications in marketing research. FNIRS is a noninvasive optical brain imaging technique that combines the measurements of cerebral blood flow and hemodynamic response in a specific brain area when neural activity occurs. Nevertheless, the feasibility of mobile fNIRS has not yet been verified, because it is rarely used in neuroeconomic and neuromarketing studies. The aim of this study was to demonstrate the feasibility of mobile fNIRS for marketing and economic research situations. Twelve subjects viewed three different advertisements of the same product, and then rated these pictures. All pictures showed the same product, but with different surroundings. The surroundings included an attractive female and male, shown to male and, respectively, female subjects, a cat, and a relatively neutral landscape. The results indicate that there are significant differences in the activation of the prefrontal cortex when viewing the different pictures. This was especially noticeable for the sexual picture and the childlike picture compared with the landscape. Also, significant differences were found on the group level and between subgroups. The activation was higher for the childlike picture than for the sexual picture, and this effect was stronger for the female subgroup. In addition, significantly higher activation was found during decision-making processes. The results of the present study suggest that using fNIRS is a promising method for measuring economic decision-making processes and consumer attention.","PeriodicalId":45695,"journal":{"name":"Journal of Neuroscience Psychology and Economics","volume":null,"pages":null},"PeriodicalIF":0.7,"publicationDate":"2018-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"75067050","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"医学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Judith Znanewitz, L. Braun, D. Hensel, C. Altobelli, Fabian Hattke
{"title":"A critical comparison of selected implicit measurement methods.","authors":"Judith Znanewitz, L. Braun, D. Hensel, C. Altobelli, Fabian Hattke","doi":"10.1037/NPE0000086","DOIUrl":"https://doi.org/10.1037/NPE0000086","url":null,"abstract":"","PeriodicalId":45695,"journal":{"name":"Journal of Neuroscience Psychology and Economics","volume":null,"pages":null},"PeriodicalIF":0.7,"publicationDate":"2018-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"75043155","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"医学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Emil Persson, Erkin Asutay, William Hagman, D. Västfjäll, G. Tinghög
We use skin conductance to measure emotional arousal in subjects who make risky choices under time pressure or time delay. Our results show a strong correlation between subjects’ skin conductance responses and their risky choices under time pressure but not under time delay. Subjects were more risk taking for higher levels of measured electrodermal activity (skin conductance). In line with descriptive theories of risky choice, the effect was most pronounced for choices involving losses rather than gains. Taken together, our findings indicate that participants under time pressure rely on affect at the point of decision-making. This provides support for behavioral models that recognize the role of emotional brain systems in decision-making under risk.
{"title":"Affective Response Predicts Risky Choice for Fast, but Not Slow, Decisions","authors":"Emil Persson, Erkin Asutay, William Hagman, D. Västfjäll, G. Tinghög","doi":"10.1037/npe0000096","DOIUrl":"https://doi.org/10.1037/npe0000096","url":null,"abstract":"We use skin conductance to measure emotional arousal in subjects who make risky choices under time pressure or time delay. Our results show a strong correlation between subjects’ skin conductance responses and their risky choices under time pressure but not under time delay. Subjects were more risk taking for higher levels of measured electrodermal activity (skin conductance). In line with descriptive theories of risky choice, the effect was most pronounced for choices involving losses rather than gains. Taken together, our findings indicate that participants under time pressure rely on affect at the point of decision-making. This provides support for behavioral models that recognize the role of emotional brain systems in decision-making under risk.","PeriodicalId":45695,"journal":{"name":"Journal of Neuroscience Psychology and Economics","volume":null,"pages":null},"PeriodicalIF":0.7,"publicationDate":"2018-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"82688162","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"医学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This article reports data from a lab-in-the-field experiment in China to provide new evidence on the impact of religion (Christianity) and religiosity on deception and trust. Although extant studies are mainly from countries where Christianity is part of the common cultural traditions, China provides a unique context to test these effects. We find that, compared with non-Christians, Christians are significantly less likely to cheat and demonstrate a significantly higher level of trust in all conditions tested. We also find variation among Christians by religiosity. Specifically, Christians with higher religiosity exhibit a significantly higher rate of trust and a lower rate of deception than the less-religious Christians. Further, our data show that both Christians and non-Christians trust Christians significantly more than others. We also find that both Christians and non-Christians are sensitive to consequences when deciding whether to lie.
{"title":"How Religion Impacts Deception and Trust Behavior: Evidence From a Lab-in-the-Field Experiment in China","authors":"Hui Xu, Yingxi Liu, Jie Liang","doi":"10.1037/npe0000095","DOIUrl":"https://doi.org/10.1037/npe0000095","url":null,"abstract":"This article reports data from a lab-in-the-field experiment in China to provide new evidence on the impact of religion (Christianity) and religiosity on deception and trust. Although extant studies are mainly from countries where Christianity is part of the common cultural traditions, China provides a unique context to test these effects. We find that, compared with non-Christians, Christians are significantly less likely to cheat and demonstrate a significantly higher level of trust in all conditions tested. We also find variation among Christians by religiosity. Specifically, Christians with higher religiosity exhibit a significantly higher rate of trust and a lower rate of deception than the less-religious Christians. Further, our data show that both Christians and non-Christians trust Christians significantly more than others. We also find that both Christians and non-Christians are sensitive to consequences when deciding whether to lie.","PeriodicalId":45695,"journal":{"name":"Journal of Neuroscience Psychology and Economics","volume":null,"pages":null},"PeriodicalIF":0.7,"publicationDate":"2018-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"89850476","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"医学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Simona Cantarella, Carola Hillenbrand, Luke Aldridge-Waddon, Ignazio Puzzo
The somatic marker hypothesis is one of the more dominant physiological models of human decision-making and yet is seldom applied to decision-making in financial investment scenarios. This study provides preliminary evidence about the application of the somatic marker hypothesis in investment choices using heart rate and skin conductance response measures. Twenty undergraduate students were split equally into expert (defined by familiarity with investments) and novice (no familiarity) groups, because previous research has associated expertise with cognitive differences in decision making scenarios. Both groups completed the Balloon Analogue Risk Task and Behavioral Investment Allocation Strategy task—a computerized simulation of real trading scenarios—as assessments of investment decision-making in conditions of low versus high uncertainty, as defined by the Bayesian calculation (level of certainty is more than: (1 − (−300%))/(300% − (−300%)) = 66.67% (0.67). Results suggest that, although primary inducers (innate physiological responses) support and guide optimal decision-making in conditions of uncertainty, secondary inducers (physiological responses dependent on memory/experience) moderate this effect; that is, the stressful thoughts that accompany the task restrict optimal decision-making. This study contributes to the current knowledge on why emotions in finance can lead people to suboptimal decisions.
{"title":"Preliminary Evidence on the Somatic Marker Hypothesis Applied to Investment Choices","authors":"Simona Cantarella, Carola Hillenbrand, Luke Aldridge-Waddon, Ignazio Puzzo","doi":"10.1037/npe0000097","DOIUrl":"https://doi.org/10.1037/npe0000097","url":null,"abstract":"The somatic marker hypothesis is one of the more dominant physiological models of human decision-making and yet is seldom applied to decision-making in financial investment scenarios. This study provides preliminary evidence about the application of the somatic marker hypothesis in investment choices using heart rate and skin conductance response measures. Twenty undergraduate students were split equally into expert (defined by familiarity with investments) and novice (no familiarity) groups, because previous research has associated expertise with cognitive differences in decision making scenarios. Both groups completed the Balloon Analogue Risk Task and Behavioral Investment Allocation Strategy task—a computerized simulation of real trading scenarios—as assessments of investment decision-making in conditions of low versus high uncertainty, as defined by the Bayesian calculation (level of certainty is more than: (1 − (−300%))/(300% − (−300%)) = 66.67% (0.67). Results suggest that, although primary inducers (innate physiological responses) support and guide optimal decision-making in conditions of uncertainty, secondary inducers (physiological responses dependent on memory/experience) moderate this effect; that is, the stressful thoughts that accompany the task restrict optimal decision-making. This study contributes to the current knowledge on why emotions in finance can lead people to suboptimal decisions.","PeriodicalId":45695,"journal":{"name":"Journal of Neuroscience Psychology and Economics","volume":null,"pages":null},"PeriodicalIF":0.7,"publicationDate":"2018-10-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"80839478","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"医学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Xuefeng Zhang, F. Guo, Sen Li, Ming-ming Li, Han Chen
Along with the rapidly growing world economy, copycats emerge everywhere. With visual similarity, copycats may mislead consumers to incorrectly link the copycats to familiar and leading brands. Copycat practices are serious challenges for the leading brands, consumers, and even imitators. In this study, the cognitive differences between a leading brand and a copycat brand were investigated subconsciously by using event-related potentials. Using a questionnaire on the leading brand and the copycat brand, consumers’ attitudes to perceived value of the brand, brand attitude, and purchase intentions were also studied. Electroencephalogram and survey results showed significant differences between the two brands. Consumers’ perceived value, brand attitude, and purchase intention of the leading brand were higher than the copycat brand. The copycat brand elicited a higher P160 and N240 at the front-central area and a higher P240 and lower P400 at the central-parietal area. We supposed that the amplitude variation in event-related potentials expressed different neural activity with regard to the target identification, cognitive control, automatic attention, and categorization mechanism between the original and the counterfeit. This study contributes to understanding the consumers’ different neural activity with regard to the original and the counterfeit and provides a feasible neuroscience-based method to perfect present theories and methodologies on issues concerning imitation. Exploration of the differences between the leading and copycat brands can help companies promote their brand and develop more reasonable marketing strategies.
{"title":"Consumers’ Different Neural Activity and Attitude to the Leading Brand and Imitator","authors":"Xuefeng Zhang, F. Guo, Sen Li, Ming-ming Li, Han Chen","doi":"10.1037/npe0000077","DOIUrl":"https://doi.org/10.1037/npe0000077","url":null,"abstract":"Along with the rapidly growing world economy, copycats emerge everywhere. With visual similarity, copycats may mislead consumers to incorrectly link the copycats to familiar and leading brands. Copycat practices are serious challenges for the leading brands, consumers, and even imitators. In this study, the cognitive differences between a leading brand and a copycat brand were investigated subconsciously by using event-related potentials. Using a questionnaire on the leading brand and the copycat brand, consumers’ attitudes to perceived value of the brand, brand attitude, and purchase intentions were also studied. Electroencephalogram and survey results showed significant differences between the two brands. Consumers’ perceived value, brand attitude, and purchase intention of the leading brand were higher than the copycat brand. The copycat brand elicited a higher P160 and N240 at the front-central area and a higher P240 and lower P400 at the central-parietal area. We supposed that the amplitude variation in event-related potentials expressed different neural activity with regard to the target identification, cognitive control, automatic attention, and categorization mechanism between the original and the counterfeit. This study contributes to understanding the consumers’ different neural activity with regard to the original and the counterfeit and provides a feasible neuroscience-based method to perfect present theories and methodologies on issues concerning imitation. Exploration of the differences between the leading and copycat brands can help companies promote their brand and develop more reasonable marketing strategies.","PeriodicalId":45695,"journal":{"name":"Journal of Neuroscience Psychology and Economics","volume":null,"pages":null},"PeriodicalIF":0.7,"publicationDate":"2018-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"80462610","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"医学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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