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Cognitive Flexibility
Ability to process the context and change actions as relevant for the current situation
Reversal Learning Task for Cognitive Flexibility
Go-No-Go Task

During reversal learning, OFC lesioned rats…
Are slower to switch their behavior ➡ Less flexibility
Valuation
The ability to determine the subjective value of a potential outcome
Orbitofrontal Cortex
Critical brain area thought to process current subjective value;
Critical for comparing the values of different outcomes
Orbitofrontal Cortex Process
It receives input from all sensory modalities and the amygdala (assembled information)
Then, it projects widely throughout the brain including the amygdala, accumbens, and other cortical areas
Reinforcer Devaluation Task Result
OFC-lesioned monkeys indiscriminantly pick either object, while “normal” monkeys picked the other food they were not pre-fed on

Orbitofrontal Cortex / Ventromedial Prefrontal Cortex
Appropriately assign value to different choices;
Necessary to be sensitive to possible loss

OFC / vmPFC damaged patients show…
Normal cognitive function, HOWEVER social behavior/personality changed completely;
Often make decisions against their best interests
Behavioral Economics
Field that studies human decision-making using empirical methods
Neuroeconomics
Study of the neural basis for behavioral economics
The Framing Effect
People can be manipulated into picking a particular option, depending on how the question is set up

The Delay Discounting Effect
Person’s willingness to wait for a “discount” can give insight on that individuals perceived impulsivity
Insula
Area that is activated when individuals use possible loss to make decisions

Ventromedial Prefrontal Cortex
Area that is activated when individuals use possible gains to make decisions
