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Neural correlates of informational cascades: brain mechanisms of social influence on belief updating

Huber, Rafael E. and Klucharev, Vasily and Rieskamp, Jörg. (2015) Neural correlates of informational cascades: brain mechanisms of social influence on belief updating. Social Cognitive and Affective Neuroscience, 10 (4). pp. 589-597.

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Official URL: http://edoc.unibas.ch/40438/

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Abstract

Informational cascades can occur when rationally acting individuals decide independently of their private information and follow the decisions of preceding decision-makers. In the process of updating beliefs, differences in the weighting of private and publicly available social information may modulate the probability that a cascade starts in a decisive way. By using functional magnetic resonance imaging, we examined neural activity while participants updated their beliefs based on the decisions of two fictitious stock market traders and their own private information, which led to a final decision of buying one of two stocks. Computational modeling of the behavioral data showed that a majority of participants overweighted private information. Overweighting was negatively correlated with the probability of starting an informational cascade in trials especially prone to conformity. Belief updating by private information was related to activity in the inferior frontal gyrus/anterior insula, the dorsolateral prefrontal cortex and the parietal cortex; the more a participant overweighted private information, the higher the activity in the inferior frontal gyrus/anterior insula and the lower in the parietal-temporal cortex. This study explores the neural correlates of overweighting of private information, which underlies the tendency to start an informational cascade.
Faculties and Departments:07 Faculty of Psychology > Departement Psychologie > Forschungsbereich Sozial-, Wirtschafts- und Entscheidungspsychologie > Economic Psychology (Rieskamp)
UniBasel Contributors:Rieskamp, Jörg
Item Type:Article, refereed
Article Subtype:Research Article
Publisher:Oxford University Press
ISSN:1749-5016
e-ISSN:1749-5024
Note:Publication type according to Uni Basel Research Database: Journal article
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Last Modified:02 Nov 2017 10:52
Deposited On:02 Nov 2017 10:52

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