The Neural Basis of Financial Risk Taking

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The Neural Basis of Financial Risk Taking Camelia M. Kuhnen, Brian Knutson  Neuron  Volume 47, Issue 5, Pages 763-770 (September 2005) DOI: 10.1016/j.neuron.2005.08.008 Copyright © 2005 Elsevier Inc. Terms and Conditions

Figure 1 Trial Structure 2 s per panel. Neuron 2005 47, 763-770DOI: (10.1016/j.neuron.2005.08.008) Copyright © 2005 Elsevier Inc. Terms and Conditions

Figure 2 Effect of Actual and Relative Outcomes on Neural Activation The top panels depict the contrast of large gains versus large losses during the Outcome period following stock choice. The bottom panels depict the contrast of chosen versus unchosen outcomes during the Market period following stock choice. n = 19. Neuron 2005 47, 763-770DOI: (10.1016/j.neuron.2005.08.008) Copyright © 2005 Elsevier Inc. Terms and Conditions

Figure 3 Association of Anticipatory Neural Activation with Subsequent Choice The left panel indicates a significant effect of anterior insula activation on the odds of making riskless (bond) choices and risk-aversion mistakes (RAM) after a stock choice (Stockt-1). The right panel indicates a significant effect of NAcc activation on the odds of making risk-aversion mistakes, risky choices, and risk-seeking mistakes (RSM) after a bond choice (Bondt-1). The odds ratio for a given choice is defined as the ratio of the probability of making that choice divided by the probability of not making that choice. Percent change in odds ratio results from a 0.1% increase in NAcc or anterior insula activation. Error bars indicate the standard errors of the estimated effect. *coefficient significant at p < 0.05. Neuron 2005 47, 763-770DOI: (10.1016/j.neuron.2005.08.008) Copyright © 2005 Elsevier Inc. Terms and Conditions