Decision neuroscience and neuroeconomics: Recent progress and ongoing challenges

In the past decade, decision neuroscience and neuroeconomics have developed many new insights in the study of decision making. This review provides an overarching update on how the field has advanced in this time period. Although our initial review a decade ago outlined several theoretical, conceptual, methodological, empirical, and practical challenges, there has only been limited progress in resolving these challenges. We summarize significant trends in decision neuroscience through the lens of the challenges outlined for the field and review examples where the field has had significant, direct, and applicable impacts across economics and psychology. First, we review progress on topics including reward learning, explore-exploit decisions, risk and ambiguity, intertemporal choice, and valuation. Next, we assess the impacts of emotion, social rewards, and social context on decision making. Then, we follow up with how individual differences impact choices and new exciting developments in the prediction and neuroforecasting of future decisions. Finally, we consider how trends in decision-neuroscience research reflect progress toward resolving past challenges, discuss new and exciting applications of recent research, and identify new challenges for the field. This article is categorized under: Psychology > Reasoning and Decision Making Psychology > Emotion and Motivation

Automated summary

This review provides an update on the advances in decision neuroscience and neuroeconomics in the past decade. It outlines the challenges faced by the field and summarizes the progress made in resolving these challenges. The review covers topics such as reward learning, decision making under uncertainty, intertemporal choice, and the impact of emotions and social context on decision making. It also discusses individual differences in decision making and the exciting developments in predicting future decisions using neuroforecasting. Overall, it reflects on the progress made in the field, identifies new applications, and highlights the new challenges faced by decision neuroscience.