The Medial Frontal Cortex and the Rapid Processing of Monetary Gains and Losses

Gehring, William J.; Willoughby, Adrian R.

doi:10.1126/science.1066893

Cited by 1,884Neural and Behavioral Psychology StudiesDecision-Making and Behavioral EconomicsNeurotransmitter Receptor Influence on Behavior

The Medial Frontal Cortex and the Rapid Processing of Monetary Gains and Losses

Gehring, William J., Willoughby, Adrian R.·2002·Science

DOI 10.1126/science.1066893

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Abstract

We report the observation of neural processing that occurs within 265 milliseconds after outcome stimuli that inform human participants about gains and losses in a gambling task. A negative-polarity event-related brain potential, probably generated by a medial-frontal region in or near the anterior cingulate cortex, was greater in amplitude when a participant's choice between two alternatives resulted in a loss than when it resulted in a gain. The sensitivity to losses was not simply a reflection of detecting an error; gains did not elicit the medial-frontal activity when the alternative choice would have yielded a greater gain, and losses elicited the activity even when the alternative choice would have yielded a greater loss. Choices made after losses were riskier and were associated with greater loss-related activity than choices made after gains. It follows that medial-frontal computations may contribute to mental states that participate in higher level decisions, including economic choices.

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The MFN is apparent from 200 to 300 ms after reward feedback, and it appears to reflect activity involved in the assessment of motivational impact.
“The MFN is apparent from 200 to 300 ms after reward feedback, and it appears to reflect activity involved in the assessment of motivational impact (Gehring and Willoughby, 2002).”
From Reward Changes Salience in Human Vision via the Anterior Cingulate (2010) · cites this paper as Gehring and Willoughby, 2002
The behavioral impact of intertrial reward priming positively correlates with a midline anterior ERP component called medial frontal negativity, suggested to reflect assessment of motivational impact.
“the behavioral impact of intertrial reward priming has been shown to positively correlate with a midline anterior ERP component, called medial frontal negativity, which has been suggested to reflect the assessment of motivational impact (Gehring & Willoughby, 2002; Hickey et al., 2010a).”
From Selection history: How reward modulates selectivity of visual attention. (2018) · cites this paper as Gehring & Willoughby, 2002

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Authors: Gehring, W. J., & Willoughby, A. R.
Affiliations: University of Michigan (US)
Corresponding author: Gehring, William J.
ORCID: Gehring, William J.
Willoughby, Adrian R.
Venue: Science
Publisher: American Association for the Advancement of Science (AAAS)
Published: 2002-03-22
Volume: 295
Issue: 5563
Pages: 2279-2282
ISSN: 0036-8075 (ISSN-L)
1095-9203
DOI: 10.1126/science.1066893
OpenAlex: W2039483201
Cited by: 1,884
References: 25
Citations by year: 2026: 47 · 2025: 68 · 2024: 66 · 2023: 69 · 2022: 78 · 2021: 99 · 2020: 85 · 2019: 88 · 2018: 148 · 2017: 79 · 2016: 89 · 2015: 112 · 2014: 109 · 2013: 100 · 2012: 87
FWCI: 22.54
Type: journal article
Language: en
Open access: closed
Locations: Science (publishedVersion)
PubMed (publishedVersion)
Topics: Life Sciences › Neuroscience › Cognitive Neuroscience › Neural and Behavioral Psychology Studies
Social Sciences › Decision Sciences › General Decision Sciences › Decision-Making and Behavioral Economics
Life Sciences › Neuroscience › Cellular and Molecular Neuroscience › Neurotransmitter Receptor Influence on Behavior
Keywords: medial frontal cortex, anterior cingulate cortex, monetary gains and losses, gambling, event-related potentials, loss aversion, risk-taking, economic decision-making, outcome measurement
MeSH terms: Adult, Choice Behavior, Economics, Electroencephalography, Evoked Potentials, Female, Gambling, Gyrus Cinguli, Humans, Male, Time Factors

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The Medial Frontal Cortex and the Rapid Processing of Monetary Gains and Losses

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