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Abstract Book 14thAnnual Meeting 2016 August 28 – 30 Berlin, Germany Hilton Berlin ABSTRACT BOOK #SNE2016, @socforneuroecon www.neuroeconomics.org Table of Contents Oral Sessions ................................................................................................................................................ 3 Sunday August 28, 2016 ........................................................................................................................... 3 Session I – Consumer and Organizational Behavior ............................................................................. 3 Monday August 29, 2016 ......................................................................................................................... 5 Session II – Attention, Learning & Memory ......................................................................................... 5 Session III – Social Influences and Social Decisions .............................................................................. 8 Tuesday August 30, 2016 ....................................................................................................................... 10 Session IV – Valuation & Value Systems ............................................................................................. 10 Session V – Aging & Computational Psychiatry .................................................................................. 13 Session VI – Bounded Rationality ....................................................................................................... 15 Poster Spotlights ........................................................................................................................................ 19 Sunday August 28, 2016 ......................................................................................................................... 19 Monday August 29, 2016 ....................................................................................................................... 22 Tuesday August 30, 2016 ....................................................................................................................... 25 Poster Abstracts ......................................................................................................................................... 29 Sunday August 28, 2016 ......................................................................................................................... 29 A – Emotion & Affect .......................................................................................................................... 29 B – Individual & Lifespan Differences ................................................................................................. 31 C - Finance .......................................................................................................................................... 33 D - Consumer Behavior & Marketing ................................................................................................. 35 E – Risk & Uncertainty ........................................................................................................................ 37 F – Intertemporal Decision-Making & Self-Control ............................................................................ 41 G – Computational Modeling ............................................................................................................. 43 H – Game Theory & Strategic Interactions ......................................................................................... 45 I – Learning & Memory ....................................................................................................................... 47 J – Valuation & Value Systems ........................................................................................................... 49 K – Choice & Choice Systems ............................................................................................................. 52 L - Social Rewards & Social Preferences ............................................................................................. 58 Monday August 29, 2016 ....................................................................................................................... 64 A – Emotion & Affect .......................................................................................................................... 64 B – Individual & Lifespan Differences ................................................................................................. 67 1 Society for NeuroEconomics 2016 C - Finance .......................................................................................................................................... 68 E – Risk & Uncertainty ........................................................................................................................ 69 F – Intertemporal Decision-Making & Self-Control ............................................................................ 75 G – Computational Modeling ............................................................................................................. 77 H – Game Theory & Strategic Interactions ......................................................................................... 79 I – Learning & Memory ....................................................................................................................... 81 J – Valuation & Value Systems ........................................................................................................... 83 K – Choice & Choice Systems ............................................................................................................. 86 L - Social Rewards & Social Preferences ............................................................................................. 92 Tuesday August 30, 2016 ....................................................................................................................... 98 A – Emotion & Affect .......................................................................................................................... 98 B – Individual & Lifespan Differences ................................................................................................. 99 D – Consumer Behavior & Marketing ............................................................................................... 101 E – Risk & Uncertainty ...................................................................................................................... 102 F – Intertemporal Decision-Making & Self-Control .......................................................................... 109 G – Computational Modeling ........................................................................................................... 112 H – Game Theory & Strategic Interactions ....................................................................................... 115 I – Learning & Memory ..................................................................................................................... 116 J – Valuation & Value Systems ......................................................................................................... 118 K – Choice & Choice Systems ........................................................................................................... 121 L - Social Rewards & Social Preferences ........................................................................................... 127 2 Society for NeuroEconomics 2016 Oral Sessions Sunday August 28, 2016 Session I – Consumer and Organizational Behavior 08:45 – 09:05 Neural Mechanisms Underlying Diversification in Consumer Choice Linda Couwenberg¹, Maarten Boksem¹, Maciej Szymanowski¹, Alan Sanfey², Ale Smidts¹ ¹Erasmus University, ²Donders Institute for Brain, Cognition and Behaviour, Radboud University Nijmegen Objective: How do people make multiple selections from an array of available options? In a wide range of decision tasks in which people have to allocate a scarce resource (e.g., money, time, or choices) over a fixed set of options, it has been shown that people tend to diversify. Interestingly, consumers are willing to forgo preferred options and to choose less preferred options in order to obtain choice portfolios with greater variety (Ratner, Kahn & Kahneman, 1999). Past research suggests that the need to diversify could be driven by concerns about satiation (McAlister, 1982), or a desire for novelty or change (Venkatesan, 1973). The current research seeks to provide more insight into these underlying motivations to diversify, using fMRI. Methods: In our task, participants (N = 41) made a series of choices among a set of choice options by evaluating one option at the time. If one decided to accept an option, the particular option appeared in one's 'basket'. We investigate participants' valuation for the different options in the choice set, given the chosen options already in this 'basket'. More specifically, with this task we aim to dissociate whether people diversify because of (1) satiation: their valuation of an option decreases when the same option was already chosen before, or (2) novelty seeking: their valuation of a non-chosen option increases. Results: Using a random effects logit model, we find that choices can be predicted by both the number of times the same option was selected before (ß = -0.54, p < .01), as well as the number of times other options were selected before (ß = 0.31, p < .01). On the neural level, we
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