Document Detail

Effects of loss aversion on post-decision wagering: implications for measures of awareness.
MedLine Citation:
PMID:  20005133     Owner:  NLM     Status:  MEDLINE    
Wagering contingent on a previous decision, or post-decision wagering, has recently been proposed to measure conscious awareness. Whilst intuitively appealing, it remains unclear whether economic context interacts with subjective confidence and how such interactions might impact on the measurement of awareness. Here we propose a signal detection model which predicts that advantageous wagers placed on the identity of preceding stimuli are affected by loss aversion, despite stimulus visibility remaining constant. This pattern of predicted results was evident in a psychophysical task where we independently manipulated perceptual and economic factors. Changes in wagering behaviour induced by changes in wager size were largely driven by changes in criterion, consistent with the model. However, for near-threshold stimuli, a reduction in wagering efficiency was also evident, consistent with an apparent but potentially illusory decrease in awareness of the stimulus. These findings challenge an assertion that post-decision wagering provides a direct index of subjective awareness.
Stephen M Fleming; Raymond J Dolan
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Publication Detail:
Type:  Journal Article; Research Support, Non-U.S. Gov't     Date:  2009-12-11
Journal Detail:
Title:  Consciousness and cognition     Volume:  19     ISSN:  1090-2376     ISO Abbreviation:  Conscious Cogn     Publication Date:  2010 Mar 
Date Detail:
Created Date:  2010-03-10     Completed Date:  2010-06-08     Revised Date:  2014-03-25    
Medline Journal Info:
Nlm Unique ID:  9303140     Medline TA:  Conscious Cogn     Country:  United States    
Other Details:
Languages:  eng     Pagination:  352-63     Citation Subset:  IM    
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MeSH Terms
Decision Making*
Gambling / psychology*
Likelihood Functions
Models, Psychological
Perceptual Masking
Photic Stimulation
Self Efficacy
Signal Detection, Psychological*
Unconscious (Psychology)
Grant Support
//Medical Research Council; //Wellcome Trust

From MEDLINE®/PubMed®, a database of the U.S. National Library of Medicine

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