Imperfect choice and the brain: uncertainty, value and decision-making. (360G-Wellcome-102612_Z_13_Z)

I will combine theoretical models from economics and psychology with tools from experimental neuroscience to isolate the factors and describe the computational processes that lead to uncertainty in the estimations of value used to guide value-based choice. I will test if the same neural network involved in value computation also represents the levels of uncertainty that emerge during the value comparison process and how uncertainty governs levels of subjective confidence in choice. I aim to diss ect the neural circuit that enables humans to be aware of the level of uncertainty in their value-based decision (measured as level of confidence), an ability that confers the critical advantage of taking corrective actions. I will test how the brain deals with incomplete information when constructing value estimates and more specifically whether (like perceptual decision-making) this fragmented information is combined according to Bayesian (optimal) integration scheme. I will also explore the r elationship between uncertainty and suboptimality in economic or financial choices, testing how noisy value estimates trigger inconsistency in value-based decisions. The ultimate goal of this research agenda will be to produce a coherent and mechanistic account of how we assign values and make choice in a mist of uncertainty.