A neuronal theory of sequential economic choice

Abstract

Principles derived from recent studies have begun to converge and point to a consensus for the neural basis of economic choice. These principles include the idea that evaluation is limited to the option within the focus of attention and that we accept or reject that option relative to the entire set of alternatives. Rejection leads attention to a new option, although it can later switch back to a previously rejected one. The referent of a value-coding neuron is dynamically determined by attention and not stably by labeled lines. Comparison results not from explicit competition between discrete representations, but from value-dependent changes in responsiveness. Consequently, comparison can occur within a single pool of neurons rather than by competition between two or more neuronal populations. Comparison may nonetheless occur at multiple levels (including premotor levels) simultaneously through a distributed consensus. This framework suggests a solution to a set of otherwise unresolved neuronal binding problems that result from the need to link options to values, comparisons to actions, and choices to outcomes.