Keeping up with the Joneses: interpersonal prediction errors and the correlation of behavior in a tandem sequential choice task.

In many settings, copying, learning from or assigning value to group behavior is rational because such behavior can often act as a proxy for valuable returns. However, such herd behavior can also be pathologically misleading by coaxing individuals into behaviors that are otherwise irrational and it...

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Autores principales:	Terry Lohrenz, Meghana Bhatt, Nathan Apple, P Read Montague
Formato:	article
Lenguaje:	EN
Publicado:	Public Library of Science (PLoS) 2013
Materias:	Biology (General) QH301-705.5
Acceso en línea:	https://doaj.org/article/579aa508360d4de6bde810325892f1b1
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id	oai:doaj.org-article:579aa508360d4de6bde810325892f1b1
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spelling	oai:doaj.org-article:579aa508360d4de6bde810325892f1b12021-11-18T05:53:29ZKeeping up with the Joneses: interpersonal prediction errors and the correlation of behavior in a tandem sequential choice task.1553-734X1553-735810.1371/journal.pcbi.1003275https://doaj.org/article/579aa508360d4de6bde810325892f1b12013-10-01T00:00:00Zhttps://www.ncbi.nlm.nih.gov/pmc/articles/pmid/24204226/pdf/?tool=EBIhttps://doaj.org/toc/1553-734Xhttps://doaj.org/toc/1553-7358In many settings, copying, learning from or assigning value to group behavior is rational because such behavior can often act as a proxy for valuable returns. However, such herd behavior can also be pathologically misleading by coaxing individuals into behaviors that are otherwise irrational and it may be one source of the irrational behaviors underlying market bubbles and crashes. Using a two-person tandem investment game, we sought to examine the neural and behavioral responses of herd instincts in situations stripped of the incentive to be influenced by the choices of one's partner. We show that the investments of the two subjects correlate over time if they are made aware of their partner's choices even though these choices have no impact on either player's earnings. We computed an "interpersonal prediction error", the difference between the investment decisions of the two subjects after each choice. BOLD responses in the striatum, implicated in valuation and action selection, were highly correlated with this interpersonal prediction error. The revelation of the partner's investment occurred after all useful information about the market had already been revealed. This effect was confirmed in two separate experiments where the impact of the time of revelation of the partner's choice was tested at 2 seconds and 6 seconds after a subject's choice; however, the effect was absent in a control condition with a computer partner. These findings strongly support the existence of mechanisms that drive correlated behavior even in contexts where there is no explicit advantage to do so.Terry LohrenzMeghana BhattNathan AppleP Read MontaguePublic Library of Science (PLoS)articleBiology (General)QH301-705.5ENPLoS Computational Biology, Vol 9, Iss 10, p e1003275 (2013)
institution	DOAJ
collection	DOAJ
language	EN
topic	Biology (General) QH301-705.5
spellingShingle	Biology (General) QH301-705.5 Terry Lohrenz Meghana Bhatt Nathan Apple P Read Montague Keeping up with the Joneses: interpersonal prediction errors and the correlation of behavior in a tandem sequential choice task.
description	In many settings, copying, learning from or assigning value to group behavior is rational because such behavior can often act as a proxy for valuable returns. However, such herd behavior can also be pathologically misleading by coaxing individuals into behaviors that are otherwise irrational and it may be one source of the irrational behaviors underlying market bubbles and crashes. Using a two-person tandem investment game, we sought to examine the neural and behavioral responses of herd instincts in situations stripped of the incentive to be influenced by the choices of one's partner. We show that the investments of the two subjects correlate over time if they are made aware of their partner's choices even though these choices have no impact on either player's earnings. We computed an "interpersonal prediction error", the difference between the investment decisions of the two subjects after each choice. BOLD responses in the striatum, implicated in valuation and action selection, were highly correlated with this interpersonal prediction error. The revelation of the partner's investment occurred after all useful information about the market had already been revealed. This effect was confirmed in two separate experiments where the impact of the time of revelation of the partner's choice was tested at 2 seconds and 6 seconds after a subject's choice; however, the effect was absent in a control condition with a computer partner. These findings strongly support the existence of mechanisms that drive correlated behavior even in contexts where there is no explicit advantage to do so.
format	article
author	Terry Lohrenz Meghana Bhatt Nathan Apple P Read Montague
author_facet	Terry Lohrenz Meghana Bhatt Nathan Apple P Read Montague
author_sort	Terry Lohrenz
title	Keeping up with the Joneses: interpersonal prediction errors and the correlation of behavior in a tandem sequential choice task.
title_short	Keeping up with the Joneses: interpersonal prediction errors and the correlation of behavior in a tandem sequential choice task.
title_full	Keeping up with the Joneses: interpersonal prediction errors and the correlation of behavior in a tandem sequential choice task.
title_fullStr	Keeping up with the Joneses: interpersonal prediction errors and the correlation of behavior in a tandem sequential choice task.
title_full_unstemmed	Keeping up with the Joneses: interpersonal prediction errors and the correlation of behavior in a tandem sequential choice task.
title_sort	keeping up with the joneses: interpersonal prediction errors and the correlation of behavior in a tandem sequential choice task.
publisher	Public Library of Science (PLoS)
publishDate	2013
url	https://doaj.org/article/579aa508360d4de6bde810325892f1b1
work_keys_str_mv	AT terrylohrenz keepingupwiththejonesesinterpersonalpredictionerrorsandthecorrelationofbehaviorinatandemsequentialchoicetask AT meghanabhatt keepingupwiththejonesesinterpersonalpredictionerrorsandthecorrelationofbehaviorinatandemsequentialchoicetask AT nathanapple keepingupwiththejonesesinterpersonalpredictionerrorsandthecorrelationofbehaviorinatandemsequentialchoicetask AT preadmontague keepingupwiththejonesesinterpersonalpredictionerrorsandthecorrelationofbehaviorinatandemsequentialchoicetask
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Keeping up with the Joneses: interpersonal prediction errors and the correlation of behavior in a tandem sequential choice task.

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