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The Value of Exercising Control Over Monetary Gains and Losses
Open accessAbstract
Using functional MRI, we examined how the affective experience of choice, the means by which individuals exercise control, is modulated by the valence of potential outcomes (gains, losses). When trials involved potential gains, participants reported liking cues predicting a choice opportunity better than cues predicting no choice opportunity—an effect that corresponded with blood-oxygen-level-dependent (BOLD) increases in ventral striatum (VS) activity. Surprisingly, no differences were observed between choice and no-choice cues when participants anticipated potential losses. Individual differences in subjective choice preference in the loss condition, however, corresponded to choice-related BOLD activity in VS. We conducted a second experiment to examine whether monetary losses were perceived differently in the context of simultaneous gains. When losses occurred in the absence of gains, participants showed an increased affective experience of choice—they reported greater liking of choice than no-choice trials, and VS activity was greater for choice than for no-choice cues. Collectively, the findings suggest that the affective experience of choice involves reward-processing circuitry when people anticipate appetitive and aversive outcomes, but the choice experience may be sensitive to context and individual differences.
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“studies in healthy controls have shown that personally chosen vs. passively received rewards elicit stronger activation in the striatum (ventral and dorsal) and PFC (inferior frontal gyrus) [212-215], which is inversely related to depressive symptoms [212].”
From Prefrontal cortex and depression (2022) · cites this paper as [214]
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BackgroundResultSelf-citationA Reinforcement Learning Mechanism Responsible for the Valuation of Free Choice
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Computational and neurobiological foundations of leadership decisions
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BackgroundDecision-making Increases Episodic Memory via Postencoding Consolidation
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“…this story from objective contingency to “per-ceptions” of control, a recent fMRI study showed that VS responses to rewarded outcomes were greater following an initial decision between two response keys, even when the choice was randomly associated with trial success (Leotti and Delgado 2014).”
ResultCorticostriatal Circuits Encode the Subjective Value of Perceived Control
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Self-citationNeural Dynamic Responses of Monetary and Social Reward Processes in Adolescents
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“The development of “bordering” or “bridging” disciplines, such as neuropsychoanalysis, that study conceptual methodologies of modeling of experimental data that can be understood with a theory of the functioning of the mind and that have possible clinical applications, seems to confirm the need for integrated knowledg…”
BackgroundCognitive control, emotional value, and the lateral prefrontal cortex
Dixon, M. L. (2015) · Frontiers in Psychology · doi:10.3389/fpsyg.2015.00758 · Cited by 51
“The ventral striatum is activated during the anticipation of imminent rewards and the opportunity to exercise choice (Knutson et al., 2001; Leotti and Delgado, 2014), and may provide motivational signals to the mid-LPFC that promotes the engagement of cognitive control to obtain immediately…”
BackgroundHow perception of control shapes decision making
Wang, K. S., Yang, Y.-Y., & Delgado, M. R. (2021) · Current Opinion in Behavioral Sciences · doi:10.1016/j.cobeha.2021.04.003 · Cited by 53
Self-citationMotivational Context Modulates Prediction Error Response in Schizophrenia
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“Your Choice” Motivates You in the Brain: The Emergence of Autonomy Neuroscience
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BackgroundInfluentialSelf-citationHow choice influences risk processing: An ERP study
Yi, W., Mei, S., Li, Q., Liu, X., & Zheng, Y. (2018) · Biological Psychology · doi:10.1016/j.biopsycho.2018.08.011 · Cited by 27
Cognitive states influence dopamine-driven aberrant learning in Parkinson's disease
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Contextual valence modulates the effect of choice on incentive processing
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“imaging (fMRI) has attempted to address this issue (Leotti and Delgado, 2014).”
BackgroundInfluentialCuriosity and the desire for agency: wait, wait … don’t tell me!
Metcalfe, J., Kennedy-Pyers, T., & Vuorre, M. (2021) · Cognitive Research Principles and Implications · doi:10.1186/s41235-021-00330-0 · Cited by 25
The opportunity to choose enhances long-term episodic memory
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“Exercising control over one’s environment in the form of executing an action seems to be a rewarding behaviour (Leotti & Delgado, 2014), even when no external reward is afforded (Eitam, Kennedy, & Higgins, 2013; Leotti & Delgado, 2011).”
BackgroundThe Protective Effects of Perceived Control During Repeated Exposure to Aversive Stimuli
Wang, K. S., & Delgado, M. R. (2021) · Frontiers in Neuroscience · doi:10.3389/fnins.2021.625816 · Cited by 25
Self-citationWhen is a loss a loss? Excitatory and inhibitory processes in loss-related decision-making
Seymour, B., Maruyama, M., & Martino, B. D. (2015) · Current Opinion in Behavioral Sciences · doi:10.1016/j.cobeha.2015.09.003 · Cited by 24
Reward Sensitivity Enhances Ventrolateral Prefrontal Cortex Activation during Free Choice
Cho, C., Smith, D. V., & Delgado, M. R. (2016) · Frontiers in Neuroscience · doi:10.3389/fnins.2016.00529 · Cited by 22
“This connectivity relationship was enhanced for individuals who reported greater valuation for rewards. toward hedonic and/or aversive outcomes (Sharot et al., 2009, 2010; Leotti and Delgado, 2014).”
BackgroundResultInfluentialSelf-citationThe Promise and Peril of Choosing for Motivation and Learning
Patall, E. A., & Hooper, S. Y. (2019) · Cambridge University Press eBooks · doi:10.1017/9781316823279.012 · Cited by 22
Instrumental Divergence and the Value of Control
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“Notably, when directly assessing neural activity during anticipation of free choice, Leotti and Delgado13,14 found that activity in the ventral striatum, an area frequently implicated in reward anticipation and reward prediction-errors51,52, was greater for a cue that indicated an upcoming…”
BackgroundChoosing to regulate: does choice enhance craving regulation?
Cosme, D., Mobasser, A., Zeithamová, D., Berkman, E. T., & Pfeifer, J. H. (2018) · Social Cognitive and Affective Neuroscience · doi:10.1093/scan/nsy010 · Cited by 20
“For example, when both gains and losses are presented, individuals prefer choice in the gain, but not the loss condition (Leotti and Delgado, 2014).”
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The Effect of Choice on Motor Learning for Learners With Different Levels of Intrinsic Motivation
Ikudome, S., Kou, K., Ogasa, K., Mori, S., & Nakamoto, H. (2019) · Journal of Sport and Exercise Psychology · doi:10.1123/jsep.2018-0011 · Cited by 17
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The interactive effect of external rewards and self-determined choice on memory
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“In addition, neuroimaging studies have indicated that, like external rewards, choice activates the dopaminergic reward regions (Leotti & Delgado, 2011, 2014), which further interact with the hippocampal memory system to produce enhanced memory performance (Murty et al., 2015, 2019).”
BackgroundBowey, J. T., Friehs, M. A., & Mandryk, R. L. (2019) · International Conference on the Foundations of Digital Games (FDG) · doi:10.1145/3337722.3337734 · Cited by 19
“Additionally, increased con-trol has been associated with increased persistence after failures [2, 13, 42, 66], which is in line with research on the buffering effect of choice on negative emotion and losses [68, 69, 85].”
ResultMotivation as a Lens for Understanding Information-seeking Behaviors
Shen, X., Helion, C., Smith, D. V., & Murty, V. P. (2023) · Journal of Cognitive Neuroscience · doi:10.1162/jocn_a_02083 · Cited by 13
“Perceived agency refers to belief in one ’ s ability to have control over the external environment and achieve desired goals (Leotti & Delgado, 2011, 2014; Leotti, Iyengar, & Ochsner, 2010).”
BackgroundAnterior insula activity and the effect of agency on the Stimulus‐Preceding Negativity
Hackley, S. A., Hirao, T., Onoda, K., Ogawa, K., & Masaki, H. (2020) · Psychophysiology · doi:10.1111/psyp.13519 · Cited by 14
Remembering pleasure and personal meaning from episodes of intrinsic motivation: an fMRI study
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“Similar neural evidence was also found in cases where people perceived a sense of con-trol even though it was illusory (Leotti and Delgado 2014).”
The Neural Basis of Motivational Influences on Cognitive ControlPreprint
Parro, C., Dixon, M. L., & Kalina Christoff, A. (2017) · bioRxiv (Cold Spring Harbor Laboratory) · doi:10.1101/113126 · Cited by 15
Control and Effort Costs Influence the Motivational Consequences of Choice
Sullivan‐Toole, H., Richey, J. A., & Tricomi, E. M. (2017) · Frontiers in Psychology · doi:10.3389/fpsyg.2017.00675 · Cited by 17
“For example, a series of experiments by Leotti and Delgado (2014) demonstrated that losses, compared to gains, can diminish the affective experience of exercising personal control via making choices.”
BackgroundInfluentialInstrumental Divergence and Goal-Directed Choice
Liljeholm, M. (2018) · Elsevier eBooks · doi:10.1016/b978-0-12-812098-9.00002-4 · Cited by 12
Freeing or freezing decisions? Belief in free will and indecisiveness
Kokkoris, M. D., Baumeister, R. F., & Kühnen, U. (2019) · Organizational Behavior and Human Decision Processes · doi:10.1016/j.obhdp.2019.08.002 · Cited by 15
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Brain Network Organization During Mindful Acceptance of EmotionsPreprint
Dixon, M. L., Girn, M., & Kalina Christoff, A. (2020) · bioRxiv (Cold Spring Harbor Laboratory) · doi:10.1101/2020.03.31.018697 · Cited by 12
“…caudate, putamen, and nucleus accumbens, plays a central role in tagging stimuli with incentive salience during learning and generating the motivational force underlying behavior (Bartra, et al., 2013; Everitt & Robbins, 2005; Haber & Behrens, 2014; Leotti & Delgado, 2014; O’Doherty, et al., 2004).”
BackgroundThe Rostrolateral Prefrontal Cortex Mediates a Preference for High-Agency Environments
Norton, K. G., & Liljeholm, M. (2020) · Journal of Neuroscience · doi:10.1523/jneurosci.2463-19.2020 · Cited by 9
“The self-play versus auto-play manipulation also relates the preference for high instrumental divergence to a well-established preference for free over forced choice (e.g., Leotti and Delgado, 2011, 2014).”
BackgroundReis, M., Pfister, R., & Schwarz, K. A. (2023) · Journal of Behavioral Decision Making · doi:10.1002/bdm.2325 · Cited by 11
“At first glance, this exploratory finding contradicts our key assumption and earlier research, which showed that control is desirable (Bown et al., 2003) and rewarding (Leotti & Delgado, 2011, 2014).”
BackgroundResultDiminished choice effect on anticipating improbable rewards
Chen, W., Li, Q., Mei, S., Yi, W., Yang, G., Zhou, S.-Y., Liu, X., & Zheng, Y. (2018) · Neuropsychologia · doi:10.1016/j.neuropsychologia.2018.01.015 · Cited by 9
Wade-Bohleber, L., Haugg, A., Huber, S., Ernst, J., Grimm, S., Recher, D., Richter, A., Seifritz, E., Boeker, H., & Northoff, G. (2021) · Human Brain Mapping · doi:10.1002/hbm.25549 · Cited by 8
“In a subsequent study, Leotti and Delgado (2014) explored if neural circuits involved in choice opportunity depended on the valence of potential outcomes.”
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Decision-Making in Gambling Disorder
Clark, L. (2016) · Elsevier eBooks · doi:10.1016/b978-0-12-805308-9.00027-0 · Cited by 9
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Autonomy recruits neural support for interest and learning
Reeve, J., & Lee, W. (2025) · Motivation and Emotion · doi:10.1007/s11031-025-10119-z · Cited by 7
“ROIs were set from the brain regions significantly activated in these analyses, and the BOLD signal changes of all trials in these ROIs were calculated from the individuals’ MNI-normalized pre-processed data.”
InfluentialA free-choice premium in the basal ganglia
Niv, Y., Langdon, A., & Radulescu, A. (2014) · Trends in Cognitive Sciences · doi:10.1016/j.tics.2014.09.005 · Cited by 7
Humans Use Forward Thinking to Exert Social ControlPreprint
Na, S., Chung, D., Hula, A., Jung, J., Fiore, V. G., Dayan, P., & Gu, X. (2019) · SSRN Electronic Journal · doi:10.1101/737353 · Cited by 7
“…that 1) people still attempted to simulate future interactions in uncontrollable situations due to their innate preference and tendency to control (Leotti and Delgado, 2014; Shenhav et al., 2016), and 2) those with higher levels of estimated control potentially experienced larger prediction…”
BackgroundNeuropsychological Research in Self-Determination Theory
Lee, W. (2023) · Oxford University Press eBooks · doi:10.1093/oxfordhb/9780197600047.013.12 · Cited by 6
Dissociable effects of perceived control on reward-related neural dynamics under risk and ambiguity
Chen, S., Wu, M., Zhao, J., Liu, G., Yang, W., & Zheng, Y. (2025) · NeuroImage · doi:10.1016/j.neuroimage.2025.121067 · Cited by 6
“Prior research has demonstrated that value of choice decreases in the complex or emotionally challenging decisions (Chen et al., 2018; Leotti and Delgado, 2014; Matute and Blanco, 2014; Mei et al., 2018b).”
Does decision confidence reflect effort?
Hagura, N., Esmaily, J., & Bahrami, B. (2023) · PLoS ONE · doi:10.1371/journal.pone.0278617 · Cited by 6
“Recent findings in neuroeconomics have shown that having a choice, in and of itself, is rewarding [18, 19].”
BackgroundSense of control buffers against stress
Fielder, J. C., Shi, J., McGlade, D., Huys, Q. J. M., & Steinbeis, N. (2025) · eLife · doi:10.7554/elife.105025.3 · Cited by 7
Yang, Q., Si, S., & Pourtois, G. (2023) · Frontiers in Behavioral Neuroscience · doi:10.3389/fnbeh.2023.1209824 · Cited by 5
“These results are compatible with earlier findings showing that negative affect increases at the subjective level when punishment is used (e.g., Lu et al., 2013; Leotti and Delgado, 2014).”
ResultBobadilla-Suarez, S., Sunstein, C. R., & Sharot, T. (2016) · SSRN Electronic Journal · doi:10.2139/ssrn.2733142 · Cited by 5
“This finding runs counter to the idea that people prefer to delegate decisions involving unwanted outcomes in order to avoid regret (Loomes and Sugden 1982) and instead supports the notion that choice may be preferred regardless of expected valence of the outcome (Leotti and Delgado 2011, 2014).”
ResultNeurocognitive Effects of Self-Determined Choice and Emotional Arousal on Time Estimation
Mueller, C. J., Classe, F. L., Stürmer, B., Kuchinke, L., & Stelzel, C. (2021) · Advances in Cognitive Psychology · doi:10.5709/acp-0326-2 · Cited by 4
Sensitivity to the Instrumental Value of Choice Increases Across Development
Nussenbaum, K., Katzman, P. L., Lu, H., Zorowitz, S., & Hartley, C. A. (2024) · Psychological Science · doi:10.1177/09567976241256961 · Cited by 4
“Making decisions can also be unpleasant when choosing between aversive, mundane, or numerous options (Botti et al., 2009; Iyengar & Lepper, 2000; Leotti & Delgado, 2014; Shenhav et al., 2018).”
BackgroundBias and Control in Social Decision-Making
Díaz-Gutiérrez, P., Alguacil, S., & Ruz, M. (2017) · Springer eBooks · doi:10.1007/978-3-319-68421-5_3 · Cited by 4
Distinguishing between intrinsic and instrumental sources of the value of choice
Devine, S., Castanheira, K. D. S., Fleming, S. M., & Otto, A. R. (2024) · Cognition · doi:10.1016/j.cognition.2024.105742 · Cited by 4
Skurka, C., Romero‐Canyas, R., Joo, H. H., & Niederdeppe, J. (2025) · Science Communication · doi:10.1177/10755470251316777 · Cited by 3
“Moreover, “the opportunity to exercise control through choice is desirable for choices that lead to both obtaining rewards and avoiding punish-ment” (Leotti & Delgado, 2014, p. 603).”
Ang, Y., & Pizzagalli, D. A. (2019) · Biological Psychiatry Cognitive Neuroscience and Neuroimaging · doi:10.1016/j.bpsc.2018.12.004 · Cited by 3
“Support for this hypothesis is bolstered by recent neuroimaging findings from Leotti and Delgado (3,4), who demonstrated that the opportunity to choose in situations leading to potentially positive outcomes recruited corticostriatal regions typically implicated in reward processing, particularly the ventral striatum.”
Reward prediction errors drive declarative learning irrespective of agency
Ergo, K., Vilder, L. D., Loof, E. D., & Verguts, T. (2021) · Psychonomic Bulletin & Review · doi:10.3758/s13423-021-01952-7 · Cited by 4
How generalization relates to the exploration-exploitation tradeoff
Houser, T. M. (2023) · Frontiers in Cognition · doi:10.3389/fcogn.2023.1132766 · Cited by 3
DeCaro, D. A., DeCaro, M. S., Hotaling, J. M., & Johnson, J. G. (2020) · Judgment and Decision Making · doi:10.1017/s1930297500007464 · Cited by 3
“In another study, Leotti and Delgado (2014) examined participants’ subjective liking and neuropsychological reaction to conditions where choice or no-choice was followed by either a positive ($0, $10, or $50) or negative (−$0, −$10, −$50) outcome.”
BackgroundThe influence of reward and loss outcomes after free- and forced-tasks on voluntary task choice
Mittelstädt, V., Mackenzie, I. G., & Leuthold, H. (2024) · Psychological Research · doi:10.1007/s00426-024-02009-9 · Cited by 2
“This finding aligns with research from various domains, consistently demonstrating that options that are freely chosen are more highly valued than those that are not (e.g., Cockburn et al., 2014; Leotti & Delgado, 2014; Patall et al., 2008; Stolz et al., 2020).”
ResultWang, S. S., & Duh, Y.-C. (2024) · Chinese Journal of Communication · doi:10.1080/17544750.2024.2409651 · Cited by 3
“People generally value having options and making choices, as this activates brain regions associated with motivation and reward (leotti & Delgado, 2014).”
Coping with Coronavirus Pandemic: Risk Perception Predicts Life Optimism
Cheng, K., & Liao, J. (2022) · Journal of Happiness Studies · doi:10.1007/s10902-022-00583-6 · Cited by 1
“Research on coping behavior has shown that negative affect and perceived control, which are negatively related (Leotti & Delgado, 2014), can be influenced by perceived health risks (Arslan & Allen, 2021; Smyth et al., 2008; Viscusi & Zeckhauser, 2015 ) and can be strong predictors of optimism…”
BackgroundXvhai, C. H. E. N., & Wu, Q. (2019) · Advances in Psychological Science · doi:10.3724/sp.j.1042.2019.01460 · Cited by 1
“…2016; Salomons et al., 2004)。基于这些证据我们 可以推测:通过自主选择来增加控制感可能是自主选择偏好的原因之一。不过,目前仍然 缺乏直接证据证明自主选择就增加了个体的控制感,或是在自主选择并不引起控制感时人 们的自主选择行为就会减少。 2.3 模糊厌恶 模糊厌恶是指相较不熟悉的事物,人们更喜欢熟悉的事物,而回避不熟悉的事物(Fox & Tversky, 1995)。当个体面临自主选择或委托他人选择时,若没有足够的信息以推算自 主选择和让渡选择权所带来的收益,他可能认为亲自选择的模糊度低于让渡选择权的模糊 度,进而更多地进行自我选择。Owens…”
InfluentialEFFECTS OF LOSS AVERSION ON THE EVALUATION OF DECISION OUTCOMES
Kokmotou, A. (2019) · University of Liverpool · doi:10.17638/03046759 · Cited by 1
“The rationale for this comes from behavioural studies reporting individual differences in the way people experience having choice, with some being more sensitive to choice freedom and others more indifferent (Leotti and Delgado, 2014; Patall et al., 2008; Ryan and Deci, 2006).”
BackgroundSelf-choice preference: The propensity to under-delegate irrespective of sense of control
Wu, Q., He, Y., Luo, Y., Hughes, B., Jiang, C., & Chen, X. (2021) · Acta Psychologica · doi:10.1016/j.actpsy.2021.103262 · Cited by 1
The interaction between task goals and the representation of choice options in decision-making
Bobadilla-Suarez, S. (2017) · UCL Discovery (University College London) · Cited by 1
Stolz, D. S., Müller‐Pinzler, L., Krach, S., & Paulus, F. M. (2019) · bioRxiv (Cold Spring Harbor Laboratory) · doi:10.1101/637207 · Cited by 1
“…should increase if internal models of behavior are available that explain how actions – if executed correctly – yield a specific outcome (Ly, Wang, Bhanji, & Delgado, 2019), in contrast to settings in which the available choices are unrelated to the outcomes obtained (Leotti & Delgado, 2011, 2014).”
BackgroundResultStudents' perceptions of learner agency
Smith, N. C. (2017) · Digital Repository Service (Northeastern University) · doi:10.17760/d20320140
Choosing to regulate: Does choice enhance craving regulation?Preprint
Cosme, D., Mobasser, A., Zeithamová, D., Berkman, E. T., & Pfeifer, J. H. (2018) · PsyArXiv (OSF Preprints) · doi:10.31234/osf.io/dn7mg · Cited by 1
Perceived agency and the pre-feedback delay: a time-frequency analysis
Hicks, A. (2022) · MOspace Institutional Repository (University of Missouri) · doi:10.32469/10355/91511
“…potential gain versus potential loss contexts, researchers noted increased activity in the ventral striatum in choice as compared to no-choice trials when there was a potential gain, but found no significant difference between choice and no-choice in potential loss trials (Leotti & Delgado, 2014).”
ResultDeCaro, D. A., DeCaro, M. S., Hotaling, J. M., & Appel, R. (2022) · PLoS ONE · doi:10.1371/journal.pone.0275265
“For example, Leotti and Delgado (2014) [10] attempted to assess the effect of financial losses on preference for choice.”
BackgroundResultBendetowicz, D., Temiz, G., Tempier, N., Hainque, É., Welter, M., Czernecki, V., Lau, B., Karachi, C., & Munuera, J. (2023) · bioRxiv (Cold Spring Harbor Laboratory) · doi:10.1101/2023.01.04.522610
Metadata
- Authors
- Leotti, L. A., & Delgado, M. R.
- Affiliations
- Rutgers, The State University of New Jersey (US)
- Venue
- Psychological Science
- Publisher
- SAGE Publications
- Published
- 2014-01-03
- Volume
- 25
- Issue
- 2
- Pages
- 596-604
- ISSN
- 0956-7976 (ISSN-L)
- 1467-9280
- PMC
- PMC3970926
- OpenAlex
- W2135441216
- Cited by
- 110
- References
- 41
- Citations by year
- 2026: 5 · 2025: 7 · 2024: 7 · 2023: 8 · 2022: 5 · 2021: 13 · 2020: 8 · 2019: 13 · 2018: 15 · 2017: 10 · 2016: 8 · 2015: 8 · 2014: 3
- FWCI
- 5.39
- Type
- journal article
- Language
- en
- Open access
- green
- www.ncbi.nlm.nih.gov
- Locations
- Psychological Science (publishedVersion)
- PubMed (publishedVersion)
- Europe PMC (PubMed Central) (acceptedVersion)
- PubMed Central (acceptedVersion)
- Funders
- National Institute on Drug Abuse (DA-027764, F32DA027308, R01DA027764)
- 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
- monetary gains and losses, ventral striatum, reward processing, outcome valence, individual differences, choice preference, context effects, aversive outcomes, decision-making
- MeSH terms
- Adult, Choice Behavior, Female, Humans, Magnetic Resonance Imaging, Male, Reward, Young Adult, Executive Function, Anticipation, Psychological, Ventral Striatum
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