A role for cognitive effort in self-control and intertemporal choice: a new behavioural economics model to incorporate neuroscientific evidence.

التفاصيل البيبلوغرافية
العنوان: A role for cognitive effort in self-control and intertemporal choice: a new behavioural economics model to incorporate neuroscientific evidence.
المؤلفون: Tanajewski, Lukasz1 lukasz.tanajewski@nottingham.ac.uk
المصدر: NeuroPsychoEconomics Conference Proceedings. 2016, p41-41. 1p.
مصطلحات موضوعية: *INTERTEMPORAL choice, *ECONOMICS & psychology, SELF-control, BRAIN imaging, COGNITION
مستخلص: Recent behavioural and neuroscientific evidence suggests that self-control failure comes from unfavourable comparison of cognitive effort cost (registered as activation in dorsolateral prefrontal cortex (dlPFC) in neuroimaging) and self-control benefits. In behavioural economics, the most influential dual-self model involves a game between impulsive selves and a long-run self. Based on above evidence and employing regret theory, a new model incorporating cognitive effort that shapes self-control of impulses is developed. The key model assumptions, (1) effort, improving cognition of self-control benefits, is exerted to minimize regret from selfcontrol of impulses, (2) regret combined with effort cost (less favourable cost-benefit comparison) increases selfcontrol failure risk, are supported by neuroscientific evidence (in repeated choices, the influence of immediately prior regret on choice-related activity was registered as dlPFC activation) and psychological studies (regret increased self-control failure risk). Without dual-self game and its complex axiomatizations and extensions, the model explains several empirical findings, including those not explained by dual-self model, e.g. cognitive load and unhealthy food choice, cognitive demand avoidance and poor self-control, patience and pro-health behaviour, cognitive load and poor strategic behaviour in games, ego-depletion and self-control failure. Analysing intertemporal choice of monetary rewards as cognitively demanding task, the model explains the following experimental findings: cognitive demand avoidance and more impatient choices, dIPFC activation and patience, cognitive load leading to more random decisions in intertemporal choice (specifying circumstances upon which cognitive load induces impatience). The model also predicts how ambiguity aversion may affect self-control in cognitively demanding task with uncertain outcomes, and that, for large impulsivity, self-control failure is less likely for 'stopping' impulsive behaviour, compared to 'avoiding' the relapse of this behaviour. Further experiments to explore the links between cognitive effort, regret from self-control, and self-control failure, are suggested. [ABSTRACT FROM AUTHOR]
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