Actual decision value and the expected decision value

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Reference no: EM132461466

1. Imagine that you are designing an fMRI experiment to study how people make shopping decisions. Each trial in your experiment consists of two stages. In Stage 1 you tell your participants what price they should expect to pay for the upcoming product. In Stage 2 you display the product along with a given price, which can be different from the "expected price" from Stage 1. Participants then say "Yes" or "No" about whether to purchase the product at the given price. Suppose that the average (i.e. expected) product value in the experiment is $10.

Note: The prediction error is the difference between the actual decision value and the expected decision value.

(a) Consider a particular trial in the experiment. In this trial, the value of the product is $10. The expected price is $6. The given price is $8. Please identify the:

(i) Stimulus value

(ii) Decision value

(iii) Prediction error

(b) Consider another trial in the experiment. In this trial, the value of the product is $14. The expected price is $8. The given price is $8. Please identify the:

(i) Stimulus value

(ii) Decision value

(iii) Prediction error

(c) Based on what we discussed in class, where in the brain would you expect to see BOLD activity correlating with each of these measures:

(i) Stimulus value

(ii) Decision value

(iii) Prediction error

Reference no: EM132461466

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