Dynamic prospect theory - two core decision theories coexist in the gambling behavior of monkeys and humans

Dynamic prospect theory - two core decision theories coexist in the gambling behavior of monkeys and humans | Research Square window.SnipcartSettings = { analytics: { enabled: false } }; (function() { var accessVector = localStorage.getItem('access_vector') || ''; window.dataLayer = window.dataLayer || []; if (accessVector) { window.dataLayer.push({ user: { profile: { profileInfo: { snid: accessVector } } } }); } })(); (function(w,d,s,l,i){w[l]=w[l]||[];w[l].push({'gtm.start':new Date().getTime(),event:'gtm.js'});var f=d.getElementsByTagName(s)[0],j=d.createElement(s),dl=l!='dataLayer'?'&l='+l:'';j.async=true;j.src='https://www.googletagmanager.com/gtm.js?id='+i+dl;f.parentNode.insertBefore(j,f);})(window,document,'script','dataLayer','GTM-K279D39R'); Browse Preprints In Review Journals COVID-19 Preprints AJE Video Bytes Research Tools Research Promotion AJE Professional Editing AJE Rubriq About Preprint Platform In Review Editorial Policies Our Team Help Center Sign In Submit a Preprint Cite Share Download PDF Article Dynamic prospect theory - two core decision theories coexist in the gambling behavior of monkeys and humans Agnieszka Tymula, Xueting Wang, Yuri Imaizumi, Takashi Kawai, and 3 more This is a preprint; it has not been peer reviewed by a journal. https://doi.org/ 10.21203/rs.3.rs-2017714/v1 This work is licensed under a CC BY 4.0 License Status: Posted Version 1 posted You are reading this latest preprint version Abstract Research in the multidisciplinary field of neuroeconomics has been driven by two influential theories regarding human economic choice: prospect theory, which describes decision-making under risk, and reinforcement learning theory, which describes learning for decision-making. We hypothesized that these two distinct theories guide decision-making in a comprehensive manner. Here, we propose and test a new decision-making theory under uncertainty that combines these highly influential theories. Collecting many gambling decisions from laboratory monkeys allowed for reliable testing of our hybrid model and revealed a systematic violation of prospect theory’s assumption that probability weighting is static. Using the same experimental paradigm in humans, substantial similarities between monkey and human behavior were described by our hybrid model, which incorporates decision-by-decision learning dynamics of prediction errors into static prospect theory. Our new model provides a single unified theoretical framework for exploring the neurobiological model of economic choice in human and nonhuman primates. Full Text Additional Declarations There is NO Competing Interest. Cite Share Download PDF Status: Posted Version 1 posted You are reading this latest preprint version Research Square lets you share your work early, gain feedback from the community, and start making changes to your manuscript prior to peer review in a journal. As a division of Research Square Company, we’re committed to making research communication faster, fairer, and more useful. We do this by developing innovative software and high quality services for the global research community. Our growing team is made up of researchers and industry professionals working together to solve the most critical problems facing scientific publishing. Also discoverable on Platform About Our Team In Review Editorial Policies Help Center Resources Author Services Accessibility API Access RSS feed Manage Cookie Preferences © Research Square 2026 | ISSN 2693-5015 (online) Privacy Policy Terms of Service Do Not Sell My Personal Information {"props":{"pageProps":{"initialData":{"identity":"rs-2017714","acceptedTermsAndConditions":true,"allowDirectSubmit":true,"archivedVersions":[],"articleType":"Article","associatedPublications":[],"authors":[{"id":134535734,"identity":"50934d33-4810-4f95-815e-a1614bf05071","order_by":0,"name":"Agnieszka Tymula","email":"","orcid":"https://orcid.org/0000-0002-0521-8477","institution":"The University of Sydney","correspondingAuthor":false,"submittingAuthor":false,"prefix":"","firstName":"Agnieszka","middleName":"","lastName":"Tymula","suffix":""},{"id":134535735,"identity":"f499d446-ae01-42ae-8aa1-0e0948a34ca9","order_by":1,"name":"Xueting Wang","email":"","orcid":"","institution":"Finance and Marketing, College of Business and Law, RMIT University","correspondingAuthor":false,"submittingAuthor":false,"prefix":"","firstName":"Xueting","middleName":"","lastName":"Wang","suffix":""},{"id":134535736,"identity":"158fa7a8-a575-4fb7-b012-faffee39d8d5","order_by":2,"name":"Yuri Imaizumi","email":"","orcid":"","institution":"University of Tsukuba","correspondingAuthor":false,"submittingAuthor":false,"prefix":"","firstName":"Yuri","middleName":"","lastName":"Imaizumi","suffix":""},{"id":134535737,"identity":"64352e3d-08d4-494a-bf6c-1c9815507d1a","order_by":3,"name":"Takashi Kawai","email":"","orcid":"","institution":"University of Tsukuba Faculty of Medicine","correspondingAuthor":false,"submittingAuthor":false,"prefix":"","firstName":"Takashi","middleName":"","lastName":"Kawai","suffix":""},{"id":134535738,"identity":"ac988418-2d82-4dce-a50b-77dbde1a9d9f","order_by":4,"name":"Jun Kunimatsu","email":"","orcid":"","institution":"University of Tsukuba Faculty of Medicine","correspondingAuthor":false,"submittingAuthor":false,"prefix":"","firstName":"Jun","middleName":"","lastName":"Kunimatsu","suffix":""},{"id":134535739,"identity":"1fb07157-3fc7-42d8-bccc-285a05209e0c","order_by":5,"name":"Masayuki Matsumoto","email":"","orcid":"https://orcid.org/0000-0003-0832-1565","institution":"University of Tsukuba Faculty of Medicine","correspondingAuthor":false,"submittingAuthor":false,"prefix":"","firstName":"Masayuki","middleName":"","lastName":"Matsumoto","suffix":""},{"id":134535740,"identity":"eb0ddb01-eaee-4490-b58c-82af25eb7726","order_by":6,"name":"Hiroshi Yamada","email":"data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAAZAAAAAyAQMAAABI0h/eAAAABlBMVEX///8AAABVwtN+AAAACXBIWXMAAA7EAAAOxAGVKw4bAAABD0lEQVRIiWNgGAWjYBACAwjFzMAPZRswSMCECGmRbACyD5CkxeAAmhacwJyBx/DTjRpreeNrhzcwf/hz2NjgdvMDhh81DOzmOLRYNvAYS+ccSzfcdjutgOFg22EzgzvHDBh7jjEwWzbgcNj9NwbSOWyHGbfdzjFgONhw2MbgRoIBA28DAzPQqdi1HOAx/p3z77D95tlALQf+gLSkf2D8i1+LmXRu2+HEDdIgLWxAh93IMWDGbwtbmXVuX3ryDKBfDpxtSzeWvHOm4LDMMQncfjnAvPl2zjdr2/7ZyRsfVPyxNuy73b7x4Zsam2RcIcbAwGEAZx5AYkgkG2BRDAHsD7CL2+HWMgpGwSgYBSMMAABEPV/kbYxMwAAAAABJRU5ErkJggg==","orcid":"https://orcid.org/0000-0001-8155-8847","institution":"University of Tsukuba","correspondingAuthor":true,"submittingAuthor":false,"prefix":"","firstName":"Hiroshi","middleName":"","lastName":"Yamada","suffix":""}],"badges":[],"createdAt":"2022-08-31 11:45:39","currentVersionCode":1,"declarations":"","doi":"10.21203/rs.3.rs-2017714/v1","doiUrl":"https://doi.org/10.21203/rs.3.rs-2017714/v1","draftVersion":[],"editorialEvents":[],"editorialNote":"","failedWorkflow":false,"files":[{"id":26260943,"identity":"fe978b81-cc30-498d-831d-221e04f7517d","added_by":"auto","created_at":"2022-09-09 14:39:46","extension":"pdf","order_by":1,"title":"","display":"","copyAsset":false,"role":"manuscript-pdf","size":713059,"visible":true,"origin":"","legend":"","description":"","filename":"PaperESV20220831.pdf","url":"https://assets-eu.researchsquare.com/files/rs-2017714/v1_covered.pdf"}],"financialInterests":"There is \u003cb\u003eNO\u003c/b\u003e Competing Interest.","formattedTitle":"Dynamic prospect theory - 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