Evidence map›Paper›PMID 37460762›Full record

ArticleNature human behaviour2023

Individual risk attitudes arise from noise in neurocognitive magnitude representations.

Miguel Barretto-García, Gilles de Hollander, Marcus Grueschow, Rafael Polanía, Michael Woodford, Christian C Ruff

Abstract read
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In one paragraph

Article in Nature human behaviour, 2023. The graph could read no effect estimate from its abstract, so it casts no vote on the map. Cited by 11 papers.

0numbers the graph read from it
0cells of the map it votes in
11citing papers in PubMed
–field-weighted citation impact
1 · What the graph read from it

What it found

Each row is one number read from the abstract, on the scale the paper reported it, with its interval. Left of the dashed line favours the treatment, right favours the comparator. Under each row is the sentence it came from. New to these charts? A ten-minute tutorial.

The abstract states no effect estimate the extractor could read, or names no intervention and outcome on the map, so this paper lights no cell and moves no belief. It is still indexed, cited and linked below.

2 · The registry

The trial behind it

Trials whose registry record cites this paper, or whose number appears in the abstract. A trial that started after this paper was published is citing it as background, not reporting it.

Neither the registry nor the abstract names a trial number. If this is a trial report, that itself is worth knowing.

3 · Its place in the literature

Who cites it

11 citing papers in PubMed.

  1. Identifiability of Bayesian models of perception.Proceedings of the National Academy of Sciences of the United States of America · 2026
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  11. The Future of Decisions From Experience: Connecting Real-World Decision Problems to Cognitive Processes.Perspectives on psychological science : a journal of the Association for Psychological Science · 2024
    Article
4 · The record

Corrections and comments

PubMed lists nothing against this paper. Absence here is not a guarantee, only a check that was made.

5 · Who and what money

Authors and funding

6 authors.

Miguel Barretto-García *Zurich Center for Neuroeconomics, Department of Economics, University of Zürich, Zurich, Switzerland. gmiguel@wustl.edu.ORCID 0000-0001-9054-7859
Gilles de Hollander *Zurich Center for Neuroeconomics, Department of Economics, University of Zürich, Zurich, Switzerland.ORCID 0000-0003-1988-5091
Marcus GrueschowZurich Center for Neuroeconomics, Department of Economics, University of Zürich, Zurich, Switzerland.ORCID 0000-0003-1911-2742
Rafael PolaníaDecision Neuroscience Laboratory, Department of Health Sciences and Technology, ETH Zürich, Zurich, Switzerland.ORCID 0000-0002-6176-6806
Michael WoodfordDepartment of Economics, Columbia University, New York, NY, USA.ORCID 0000-0001-5485-5280
Christian C RuffZurich Center for Neuroeconomics, Department of Economics, University of Zürich, Zurich, Switzerland. christian.ruff@econ.uzh.ch.ORCID 0000-0002-3964-2364

Funding

No grant is acknowledged in the PubMed record.

6 · The paper itself

Abstract

Humans are generally risk averse, preferring smaller certain over larger uncertain outcomes. Economic theories usually explain this by assuming concave utility functions. Here, we provide evidence that risk aversion can also arise from relative underestimation of larger monetary payoffs, a perceptual bias rooted in the noisy logarithmic coding of numerical magnitudes. We confirmed this with psychophysics and functional magnetic resonance imaging, by measuring behavioural and neural acuity of magnitude representations during a magnitude perception task and relating these measures to risk attitudes during separate risky financial decisions. Computational modelling indicated that participants use similar mental magnitude representations in both tasks, with correlated precision across perceptual and risky choices. Participants with more precise magnitude representations in parietal cortex showed less variable behaviour and less risk aversion. Our results highlight that at least some individual characteristics of economic behaviour can reflect capacity limitations in perceptual processing rather than processes that assign subjective values to monetary outcomes.

Indexed as

Choice BehaviorMagnetic Resonance ImagingAttitudeHumansParietal Lobe

Identifiers

What OpenQuestion holds

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Read underepoch 390

Registered trials

None linked

Read under generation 80e0d062 · epoch 390. Bibliography from PubMed, PubMed Central and OpenAlex; grants from NIH RePORTER; trial links from ClinicalTrials.gov; estimates, votes and beliefs from the OpenQuestion graph.