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Electronic Letters to:
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- BehavioralSystemsCognitive:
Dominik R. Bach, Ben Seymour, and Raymond J. Dolan
- Neural Activity Associated with the Passive Prediction of Ambiguity and Risk for Aversive Events
J. Neurosci. 2009; 29: 1648-1656
[Abstract]
[Full text]
[PDF]
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Electronic letters published:
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The correct definition of risk and ambiguity would have provided different results
- Angela A Stanton
(12 February 2009)
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Equivalent definitions, misquoted results
- Dominik R. Bach, Ben Seymour, and Raymond J. Dolan
(25 February 2009)
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The correct definition of risk and ambiguity would have provided different results |
12 February 2009 |
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Angela A Stanton, Visiting Scholar Center for Neuroeconomics Studies, Claremont Graduate University, Claremont, CA 91711
Send letter to journal:
Re: The correct definition of risk and ambiguity would have provided different results
angela{at}angelastanton.com Angela A Stanton
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In Bach et al. (2009) the authors state the definition of risk and
ambiguity incorrectly. They write (in the abstract) "In economic decision
making, outcomes are described in terms of risk (uncertain outcomes with
certain probabilities) and ambiguity (uncertain outcomes with uncertain
probabilities)." Both of these statements are incorrect. In economic
theory, risk is defined as fully known outcomes and fully known
probabilities (what is unknown is the "specific" outcome that will
materialize) and ambiguity is defined as fully known outcomes and unknown
probability distribution (the probability distribution can be estimated by
beliefs).
Furthermore, the authors define "ignorance" suggesting that ignorance
is that in which probabilities of outcomes are unknown and are unknowable
"unless exploration and learning are permitted" (page 1648). Placed in
this context, there is no difference between ambiguity and ignorance,
because in both cases, some information is missing and beliefs can be used to make
up the missing information--even if exploration and learning are not
permitted. I suggest that rather than ignorance, they tested a version of
ambiguity in which the experimenters knew the difference between the types
of ambiguity forthcoming but the experimental subjects did not. Hence the
unsurprising result of no distinction in brain activation between the
cases of ambiguity and ignorance. |
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Equivalent definitions, misquoted results |
25 February 2009 |
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Dominik R. Bach, Postdoctoral Research Fellow University College London, WC1N 3BG, Ben Seymour, and Raymond J. Dolan
Send letter to journal:
Re: Equivalent definitions, misquoted results
d.bach{at}fil.ion.ucl.ac.uk Dominik R. Bach, et al.
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Stanton's (2009) definition of risk and ambiguity would most
certainly not have led to different results, as her definition is
equivalent to the one used in our study. However, our results are
misquoted in her letter.
Stanton refers to the “unsurprising result of no distinction in brain
activation between the cases of ambiguity and ignorance”. We would have
found this result quite surprising, and fortunately our study shows
exactly the opposite. In fact, there is a distinction in brain activity
between ignorance and ambiguity, and it's the same as between risk and
ambiguity. This demonstrates that not only the experimenter, but also the
participants gathered a difference between ambiguity and ignorance.
Stanton is correct in pointing out that in risk, it's only the
ultimate outcome that is unknown while the stakes (or possible outcomes)
are known. Our definition of risk ("unknown outcomes with known
probabilities") could thus be extended to “unknown ultimate outcomes with
known possible outcomes and known probabilities”. This reflects precisely
what is described in the methods section of our article and is equivalent
to Stanton's definition.
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