4.7 Article

Nonhuman Primates Satisfy Utility Maximization in Compliance with the Continuity Axiom of Expected Utility Theory

期刊

JOURNAL OF NEUROSCIENCE
卷 41, 期 13, 页码 2964-2979

出版社

SOC NEUROSCIENCE
DOI: 10.1523/JNEUROSCI.0955-20.2020

关键词

continuity axiom; decision making; expected utility theory; reward risk; utility

资金

  1. Wellcome [WT 095495, WT 204811]
  2. European Research Council [293549]
  3. European Research Council (ERC) [293549] Funding Source: European Research Council (ERC)

向作者/读者索取更多资源

Expected Utility Theory describes choices as a process of maximizing utility, where decision makers assign subjective value to each choice option and select the one with the highest utility. The continuity axiom is central to the theory, requiring decision makers to be indifferent between different gambles, which is crucial for defining numerical utilities.
Expected Utility Theory (EUT), the first axiomatic theory of risky choice, describes choices as a utility maximization process: decision makers assign a subjective value (utility) to each choice option and choose the one with the highest utility. The continuity axiom, central to Expected Utility Theory and its modifications, is a necessary and sufficient condition for the definition of numerical utilities. The axiom requires decision makers to be indifferent between a gamble and a specific probabilistic combination of a more preferred and a less preferred gamble. While previous studies demonstrated that monkeys choose according to combinations of objective reward magnitude and probability, a concept-driven experimental approach for assessing the axiomatically defined conditions for maximizing utility by animals is missing. We experimentally tested the continuity axiom for a broad class of gamble types in 4 male rhesus macaque monkeys, showing that their choice behavior complied with the existence of a numerical utility measure as defined by the economic theory. We used the numerical quantity specified in the continuity axiom to characterize subjective preferences in a magnitude-probability space. This mapping highlighted a trade-off relation between reward magnitudes and probabilities, compatible with the existence of a utility function underlying subjective value computation. These results support the existence of a numerical utility function able to describe choices, allowing for the investigation of the neuronal substrates responsible for coding such rigorously defined quantity.

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