title: Context-dependency in valuation.
abstract: In the last few years, work in the nascent field of neuroeconomics has advanced understanding of the brain systems involved in value-based decision making. An important modulator of valuation processes is the specific context a decision maker is facing during choice. Recently, neuroeconomics has made great progress in understanding, on both the brain and behavioral level, how context-dependent perception affects valuation and choice. Here we describe how context-sensitive value coding accounts for choice set effects, differential perceptions of gains and losses, and expectancy effects of external (economic) signals.
authors.affiliation: School of Economics, University of Sydney, 2034 NSW, Australia. Electronic address: agnieszka.tymula@sydney.edu.au.
authors.forename: Agnieszka
authors.initials: A
authors.lastname: Tymula
authors.affiliation: Marketing Area, INSEAD, Boulevard de Constance, 77300 Fontainebleau, France; Cognitive Neuroscience Laboratory, INSERM U960, Ecole Normale Supérieure, Paris, France.
authors.forename: Hilke
authors.initials: H
authors.lastname: Plassmann
mesh_terms: D002755:Choice Behavior / Q000502:physiology; D003657:Decision Making / Q000502:physiology*; D006801:Humans; D010465:Perception / Q000502:physiology*