DYNAMICS OF BETTING BEHAVIOR UNDER FLAT REWARD CONDITION
Abstract
One of the missions of the cognitive process of animals, including humans, is to make reasonable judgments and decisions in the presence of uncertainty. The balance between exploration and exploitation investigated in the reinforcement-learning paradigm is one of the key factors in this process. Recently, following the pioneering work in behavioral economics, growing attention has been directed to human behaviors exhibiting deviations from the simple maximization of external reward. Here we study the dynamics of betting behavior in a simple game, where the probability of reward and the magnitude of reward are designed to give a "zero" expected net reward ("flat reward condition"). No matter how the subject behaves, there is on average no change in one's resources, and therefore every possible sequence of action has the same value. Even in such a situation, the subjects are found to behave not in a random manner, but in ways showing characteristic tendencies, reflecting the dynamics of brain's reward system. Our results suggest that brain's reward system is characterized by a rich and complex dynamics only loosely coupled with external reward structure.
