Evaluation of Probabilities and Brain Activity - An EEG-Study

Ralf Morgenstern; Marcus Heldmann; Thomas Münte; Bodo Vogt

doi:10.1007/978-3-642-04954-5_18

Evaluation of Probabilities and Brain Activity - An EEG-Study

Ralf Morgenstern^*, Marcus Heldmann, Thomas Münte, Bodo Vogt

^*Korrespondierende/r Autor/-in für diese Arbeit

Klinik für Neurologie

Otto-von-Guericke-Universität Magdeburg

Abstract

This paper focuses on the problem of probability weighting in the evaluation of lotteries. According to Prospect Theory a probability of 0.5 has a weight of smaller than 0.5. We conduct an EEG experiment in which we compare the results of the evaluation of binary lotteries by certainty equivalents with the results of the bisection method. The bisection method gives the amount of money that corresponds to the midpoint of the utilities of the two payoffs in a binary lottery as it has been shown previously. In this method probabilities are not evaluated. We analyzed EEG data focused on whether a probability is evaluated or not. Our data show differences between the two methods connected with the attention towards sure monetary payoffs, but they do not show brain activity connected with a devaluation of the probability of 0.5.

Originalsprache	Englisch
Titel	BI 2009: Brain Informatics
Redakteure/-innen	Ning Zhong, Kuncheng Li, Shengfu Lu, Lin Chen
Seitenumfang	10
Band	5819 LNAI
Herausgeber (Verlag)	Springer-Verlag Berlin Heidelberg
Erscheinungsdatum	2009
Seiten	74-83
ISBN (Print)	978-3-642-04953-8
ISBN (elektronisch)	978-3-642-04954-5
DOIs	https://doi.org/10.1007/978-3-642-04954-5_18
Publikationsstatus	Veröffentlicht - 2009
Veranstaltung	2009 1st International Conference on Brain Informatics - Beijing, China Dauer: 22.10.2009 → 24.10.2009 Konferenznummer: 83270

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Forschungsschwerpunkt: Gehirn, Hormone, Verhalten - Center for Brain, Behavior and Metabolism (CBBM)

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@inproceedings{8273f8d2f4584109b2b65de31685ee0a,

title = "Evaluation of Probabilities and Brain Activity - An EEG-Study",

abstract = "This paper focuses on the problem of probability weighting in the evaluation of lotteries. According to Prospect Theory a probability of 0.5 has a weight of smaller than 0.5. We conduct an EEG experiment in which we compare the results of the evaluation of binary lotteries by certainty equivalents with the results of the bisection method. The bisection method gives the amount of money that corresponds to the midpoint of the utilities of the two payoffs in a binary lottery as it has been shown previously. In this method probabilities are not evaluated. We analyzed EEG data focused on whether a probability is evaluated or not. Our data show differences between the two methods connected with the attention towards sure monetary payoffs, but they do not show brain activity connected with a devaluation of the probability of 0.5.",

author = "Ralf Morgenstern and Marcus Heldmann and Thomas M{\"u}nte and Bodo Vogt",

year = "2009",

doi = "10.1007/978-3-642-04954-5_18",

language = "English",

isbn = "978-3-642-04953-8",

volume = "5819 LNAI",

series = "Lecture Notes in Computer Science",

publisher = "Springer-Verlag Berlin Heidelberg",

pages = "74--83",

editor = "Zhong, {Ning } and Li, {Kuncheng } and { Lu}, Shengfu and Chen, {Lin }",

booktitle = "BI 2009: Brain Informatics",

}

Morgenstern, R, Heldmann, M , Münte, T & Vogt, B 2009, Evaluation of Probabilities and Brain Activity - An EEG-Study. in N Zhong, K Li, S Lu & L Chen (Hrsg.), BI 2009: Brain Informatics. Bd. 5819 LNAI, Lecture Notes in Computer Science, Bd. 5819 LNAI, Springer-Verlag Berlin Heidelberg, S. 74-83, 2009 1st International Conference on Brain Informatics , Beijing, China, 22.10.09. https://doi.org/10.1007/978-3-642-04954-5_18

Evaluation of Probabilities and Brain Activity - An EEG-Study. / Morgenstern, Ralf; Heldmann, Marcus ; Münte, Thomas et al.
BI 2009: Brain Informatics. Hrsg. / Ning Zhong; Kuncheng Li; Shengfu Lu; Lin Chen. Band 5819 LNAI Springer-Verlag Berlin Heidelberg, 2009. S. 74-83 (Lecture Notes in Computer Science; Band 5819 LNAI).

Publikation: Kapitel in Büchern/Berichten/Konferenzbänden › Konferenzbeitrag › Begutachtung

TY - GEN

T1 - Evaluation of Probabilities and Brain Activity - An EEG-Study

AU - Morgenstern, Ralf

AU - Heldmann, Marcus

AU - Münte, Thomas

AU - Vogt, Bodo

N1 - Conference code: 83270

PY - 2009

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N2 - This paper focuses on the problem of probability weighting in the evaluation of lotteries. According to Prospect Theory a probability of 0.5 has a weight of smaller than 0.5. We conduct an EEG experiment in which we compare the results of the evaluation of binary lotteries by certainty equivalents with the results of the bisection method. The bisection method gives the amount of money that corresponds to the midpoint of the utilities of the two payoffs in a binary lottery as it has been shown previously. In this method probabilities are not evaluated. We analyzed EEG data focused on whether a probability is evaluated or not. Our data show differences between the two methods connected with the attention towards sure monetary payoffs, but they do not show brain activity connected with a devaluation of the probability of 0.5.

AB - This paper focuses on the problem of probability weighting in the evaluation of lotteries. According to Prospect Theory a probability of 0.5 has a weight of smaller than 0.5. We conduct an EEG experiment in which we compare the results of the evaluation of binary lotteries by certainty equivalents with the results of the bisection method. The bisection method gives the amount of money that corresponds to the midpoint of the utilities of the two payoffs in a binary lottery as it has been shown previously. In this method probabilities are not evaluated. We analyzed EEG data focused on whether a probability is evaluated or not. Our data show differences between the two methods connected with the attention towards sure monetary payoffs, but they do not show brain activity connected with a devaluation of the probability of 0.5.

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U2 - 10.1007/978-3-642-04954-5_18

DO - 10.1007/978-3-642-04954-5_18

M3 - Conference contribution

SN - 978-3-642-04953-8

VL - 5819 LNAI

T3 - Lecture Notes in Computer Science

SP - 74

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BT - BI 2009: Brain Informatics

A2 - Zhong, Ning

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Y2 - 22 October 2009 through 24 October 2009

ER -

Evaluation of Probabilities and Brain Activity - An EEG-Study

Abstract

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