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Cited by 994Neural and Behavioral Psychology StudiesNeurotransmitter Receptor Influence on BehaviorDecision-Making and Behavioral Economics

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Neural Economics and the Biological Substrates of Valuation

Open access
Montague, P.Read, Berns, Gregory S.·2002·Neuron
DOI 10.1016/s0896-6273(02)00974-1
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Abstract

A recent flurry of neuroimaging and decision-making experiments in humans, when combined with single-unit data from orbitofrontal cortex, suggests major additions to current models of reward processing. We review these data and models and use them to develop a specific computational relationship between the value of a predictor and the future rewards or punishments that it promises. The resulting computational model, the predictor-valuation model (PVM), is shown to anticipate a class of single-unit neural responses in orbitofrontal and striatal neurons. The model also suggests how neural responses in the orbitofrontal-striatal circuit may support the conversion of disparate types of future rewards into a kind of internal currency, that is, a common scale used to compare the valuation of future behavioral acts or stimuli.

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Metadata

Authors
Montague, P. R., & Berns, G. S.
Affiliations
  • Baylor College of Medicine (US)
  • Emory University (US)
Corresponding author
Montague, P.Read
ORCID
Venue
Neuron
Publisher
Elsevier BV
Published
2002-10
Volume
36
Issue
2
Pages
265-284
ISSN
0896-6273 (ISSN-L)
DOI
10.1016/s0896-6273(02)00974-1
OpenAlex
W2117403214
Cited by
994
References
9
Citations by year
2026: 7 · 2025: 17 · 2024: 66 · 2023: 23 · 2022: 20 · 2021: 21 · 2020: 24 · 2019: 43 · 2018: 36 · 2017: 25 · 2016: 32 · 2015: 35 · 2014: 45 · 2013: 54 · 2012: 66
FWCI
2.75
Type
journal article
Language
en
Open access
Licence
Locations
  • Neuron (publishedVersion)
  • PubMed (publishedVersion)
  • UCL Discovery (University College London) (submittedVersion)
Funders
  • National Institutes of Health (5r01mh061010-02)
  • National Institute of Mental Health (R01 MH61010, R01MH52797, R01MH052797)
  • National Institute on Drug Abuse (K08 DA00367, K08DA000367, R01-DA11723, R01DA011723)
Topics
  • Life Sciences › Neuroscience › Cognitive Neuroscience › Neural and Behavioral Psychology Studies
  • Life Sciences › Neuroscience › Cellular and Molecular Neuroscience › Neurotransmitter Receptor Influence on Behavior
  • Social Sciences › Decision Sciences › General Decision Sciences › Decision-Making and Behavioral Economics
Keywords
valuation, reward processing, orbitofrontal cortex, striatum, single-unit activity, computational model, prediction error, decision-making
MeSH terms
Animals, Brain, Choice Behavior, Forecasting, Humans, Models, Neurological, Neurons, Reward

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