Abstract
Decision makers frequently encounter opportunities to pursue great gains—assuming they are willing to accept greater risks. Previous neuroimaging studies have shown that activity in the intraparietal sulcus (IPS) and the inferior frontal junction (IFJ) are associated with individual preferences for economic risk (“known unknowns,” e.g., a 50% chance of winning $5) and ambiguity (“unknown unknowns,” e.g., an unknown chance of winning $5), respectively. Whether processing in these regions causally enables risk-taking for individual decisions, however, remains unknown. To examine this question, we assessed the decision to engage in risk-taking after disrupting neural processing in the IPS and IFJ of healthy human participants using repetitive transcranial magnetic stimulation. While stimulation of the IFJ resulted in general slowing of decision times, disrupting neural processing within the IPS selectively suppressed risk-taking, biasing choices toward certain options featuring both lower risks and lower expected rewards. Our results are the first to demonstrate the necessity of intact IPS function for choosing uncertain outcomes when faced with calculable risks and rewards. Engagement of IPS during decision making may support a willingness to accept uncertain outcomes for a chance to obtain greater gains.
Introduction
Decision making is often characterized by the need to make difficult tradeoffs between uncertain risks and rewards. Although excessive risk-seeking can be problematic (Yates, ), investors and economists have also recognized that obtaining greater rewards often requires accepting greater risk (Markowitz, ). An abundance of caution can sometimes endanger long-term financial goals such as retirement and homeownership (Bajtelsmit and VanDerhei, ), or lead to missed opportunities, such as when a promising job offer is turned down because it requires relocating to an unfamiliar city. Decision makers thus stand to benefit from control mechanisms capable of calibrating risk-taking behavior based on existing risk preferences as well as situational risks and benefits.
In the current investigation, we examine the contributions of two brain regions key to such flexible behavioral control during uncertain decisions: the intraparietal sulcus (IPS) and the inferior frontal junction (IFJ). Traditional (Mohr et al., ) and large-scale automated (Yarkoni et al., ) metanalyses of neuroimaging studies demonstrate consistent activation within the IPS and IFJ during uncertain decision making. Activation within these two regions has been found to scale with the degree of uncertainty as information is accumulated toward a decision (Huettel et al., ) and reflects outcome uncertainty in a manner dissociable from other choice-related processes (Bach et al., ). Information represented within the IFJ and IPS prior to an uncertain decision is also predictive of subsequent decisions to engage in risk-taking (Helfinstein et al., ).
The IPS and IFJ show evidence of differential sensitivity to two important forms of uncertainty: economic risk (“known unknowns,” e.g., a 50% chance of winning $5) and ambiguity (“unknown unknowns,” i.e., an unknown chance of winning $5; Knight, ; Ellsberg, ; Camerer and Weber, ). IPS activation is enhanced for risky choices relative to intertemporal choices (Weber and Huettel, ), with this activation preferentially tracking risky subjective value (Peters and Büchel, ). Similarly, neuronal activity measured in the non-human primate analog of IPS represents the relative subjective value of risky choices (Dorris and Glimcher, ). The IFJ, by contrast, is robustly active during ambiguous decision making (Huettel et al., ) and in response to ambiguous aversive cues (Bach et al., ), with individual differences in responses to ambiguity predicting behavioral ambiguity aversion (Bach et al., ). In an fMRI study directly comparing neural processing of risk and ambiguity, Huettel and colleagues identified a double-dissociation, with greater IPS activation predicting an increased acceptance of risk, and greater IFJ activation predicting an increased acceptance of ambiguity (Huettel et al., ). Such results thus strongly implicate the IPS and IFJ in uncertain decision making, and suggest that these regions may differentially represent uncertainty preferences during risky and ambiguous choices. Whether intact processing in these regions is actually required to engage in risk-taking, however, remains unknown.
To address this question, we conducted an experiment in which participants engaged in risk-taking for monetary rewards while we manipulated both the type of uncertainty they faced—and critically—the integrity of neural processing within the IPS and IFJ. We applied MRI-guided 1-Hz repetitive transcranial magnetic stimulation (rTMS)—thought to inhibit (Chen et al., ) or disrupt (Harris et al., ) neural processing—over the IPS, IFJ, and a vertex control site in a counterbalanced within-subjects design (Figure 1A). After each rTMS treatment, we examined participants' risk-taking behavior (choices and response times) across a series of decision trials. Each decision pitted a certain but small reward against an uncertain reward (Figure 1B), with uncertainty being either “risky” (a known 25, 50, or 75% chance of reward) or “ambiguous” (unknown chance of reward). The expected value of the uncertain option was varied to offer a premium over the value of the certain option in a majority of trials, thereby incentivizing risk-taking to various degrees. Based on the previous findings discussed above, we made two independent predictions: First, relative to control rTMS, IPS rTMS would interfere with uncertain decision-making for risky decision trials; second, IFJ rTMS would likewise disrupt decision processes for ambiguous trials. We analyzed the effects of rTMS location on choices and response times for these decisions using a multilevel mixed-models approach for repeated measures, treating both decisions and participants as random (as opposed to fixed) effects. Our design thus allowed us to draw causal inferences regarding the importance of IPS and IFJ to decision making under both risk and ambiguity.
Figure 1
Materials and methods
Participants
Fifteen right-handed adult participants (mean age 27.43, range 19–43; six female) reported no history of psychiatric or neurological disorders and passed MRI and TMS safety screenings (Rossi et al.,
Procedure overview
Participants completed separate 1-h MRI and 3-h rTMS visits. Anatomical MRI images were used for personalized neuro-navigated targeting during the rTMS study. Prior to receiving rTMS, participants were screened, familiarized with the study equipment, and trained on the decision-making task. Participants then completed a full (165 trials, paid) practice run of the task.
We conducted a within-subjects experiment in which each participant received two rTMS treatments: one to the right IFJ and one to the left IPS, with site coordinates based on a prior neuroimaging study employing an equivalent decision task (Huettel et al.,
Upon completion of the experiment, participants were debriefed and questioned about headaches, discomfort, or any other acute side effects (over-the-counter pain medication was available, but all subjects declined). Prior to release, participants were required to pass an evaluation of basic perceptual, short term, and working memory function, awareness of current time and location. Participants were contacted 24 h after the study to check for any experimental side effects (none were reported).
Decision-making task
Participants made self-paced choices between certain (e.g., 100% chance of $5) and uncertain options. Uncertain options were either risky (e.g., 50% chance of $12) or ambiguous (e.g., “??”% chance of $12). Stimuli and task design were adapted from prior studies of risky/ambiguous choices (Huettel et al.,
We manipulated the certain option reward amount ($3–$7), uncertain option reward amount ($2–$98) and the degree of option uncertainty (75%, 50%, 25%, or ??%) to incentivize the uncertain option to various degrees. We combined values on these variables to construct 165 distinct gamble scenarios (45 each for 25%, 50%, and 75% risk; 30 for ambiguity). This set of 165 gambles was repeated for each task run with gamble order randomized, allowing repeated measures comparisons controlling for subject, gamble, and subject-by-gamble effects. The majority of these gambles (128 out of 165) were constructed such that the uncertain option had a higher expected value than the certain option, thereby providing an incentive to choose the uncertain option (17 had equal expected value, and 20 had greater certain expected value). We based the level of these incentives on previous observations of risk and ambiguity aversion in this task, such that stronger incentives tended to be provided for conditions characterized by higher risk/ambiguity aversion. The ratio of the uncertain vs. the certain expected value (assuming ambiguous options to have an expected probability of 0.5) thus ranged from 0.5 to 3.6. The higher end of this range was covered by the ambiguous and 25% gambles to sufficiently reward risk taking, as participants are typically strongly risk-averse to such gambles. By contrast, the 75% gambles covered the lower end of this range, with 50% gambles intermediate to these extremes.
To provide participants an incentive to choose according to their preferences, we explained that for each run of the task (165 gamble trials) we would randomly select one trial, and that at the end of the experiment, we would resolve the gambles from those trials according to their choice, and pay them the winnings from each trial. Participants completed four runs of the task (initial practice run and three runs following rTMS sessions) and were thus paid for a total of four such bonus trials. The average bonus compensation was $38.43 per participant (with a range of $8 to $125).
Anatomical MRI scan acquisition
Anatomical imaging was conducted on a 3.0 Tesla GE Discovery MR750 system using an eight-channel head coil, conducting a T1-weighted FSPGR scan in the axial plane with a 3D inversion recovery prepared sequence (120 slices, 1 mm slice thickness, 1 × 1 mm in-plane resolution).
Repetitive transcranial magnetic stimulation (rTMS)
We employed an “off-line” 1-Hz rTMS protocol with the goal of disrupting information processing within the targeted brain regions prior to a series of economic decisions involving uncertainty. This paradigm has been previously shown to inhibit primary motor cortex, reduce signal strength in visual processing, and perturb social and economic decision making (Knoch et al.,
Neuronavigated rTMS targeting
rTMS was applied to three anatomical locations. Standardized MNI coordinates for the IPS (−36, −57, 50) and IFJ (39, 16, 33) were based on peak group activations associated with risk and ambiguity preferences in a previous fMRI study (Huettel et al.,
Coordinates were identified for each participant using their structural MRI scan and a neuro-navigated rTMS procedure implemented using the Brainsight suite of tools and software (Rogue Research, Montreal, Canada). Each participant's anatomical MRI image was mapped to MNI standard space based on manual registration landmarks (anterior commissure, posterior commissure, brain size, and edges), allowing rTMS targets defined in MNI coordinates to be translated to each individual's native brain anatomy. Next, we co-registered our participants' cranial features with their anatomical MRI scans, using the left and right intertragal notch, nasion, and tip of nose. This allowed us to target the IPS, IFJ, and vertex consistently within individual participants. Participants were re-registered prior to each rTMS administration to insure accurate administration.
Dependent and independent measures
The dependent variables of primary interest were choice (selection of the certain or uncertain option) and decision time (ms). We used multilevel logistic regression with a logit link function and binary distribution to analyze choices, and multilevel generalized linear regression with a lognormal distribution and an identity link function to analyze decision times. We also estimated the theoretical impact of rTMS stimulation on the average expected return from participants' choices (i.e., the expected consequences if they had been paid for each trial) by modeling rTMS effects on the expected value of the chosen option for each trial. This approach was selected because its repeated-measures nature paralleled our analysis of choices and RT's, and because our small number of compensated trials (1 per run) precluded any meaningful analysis of rTMS consequences on participant's real take-home bonus pay. Estimates were interpreted as ratios of odds, or converted to relative risk, using the formula Relative Risk = Odds Ratio / (1−Pc) + (Pc × Odds Ratio) where Pc is the probability of occurrence in the control condition (Zhang and Yu,
Independent variables of primary interest included the rTMS treatment condition (vertex, IFJ, or IPS), the difference of uncertain and certain option reward magnitudes (continuous), the uncertain option probability (25, 50, 75%, or ambiguous), and the interactions of these variables. Variables included in our models but not of primary interest were a categorical variable reflecting the rTMS condition order (controlling for any order effects) and variables included to control for any time period effects. For the choice model, we included a categorical fixed-effects time variable reflecting the task run number, while in the decision time model, we included both fixed, and random-effects for a continuous variable reflecting the total number of trials already completed (i.e., controlling for practice effects). These control variables helped account for time effects including a clear practice effects for response times as well as a slight increase in risky choices by the end of the study.
Study personnel responsible for data analysis and modeling were blinded to the rTMS treatment conditions during the primary stages of data analysis, as rTMS conditions were coded as an arbitrary single-digit number. This coding was maintained until after omnibus tests demonstrated significant interaction of (coded) rTMS treatment with uncertainty type. The code blinding was lifted only when it became necessary to test previously hypothesized contrasts between the experimental and control conditions.
Repeated measures and multilevel modeling
We implemented multilevel mixed-effects models for repeated measures (Snijders,
We fit models using SAS 9.3 Proc GLIMMIX (Sas Institute,
An advantage of a multilevel models approach to repeated measures is that missing-at-random observations are permissible. Data was missing for three rTMS sessions in our study: one participant declined to complete the IFJ rTMS condition, while neuro-navigated targeting failed for two rTMS sessions (one IFJ, one vertex).
Results
We examined the effects of rTMS on decision making by recording choice and response time on each gamble trial. Descriptive statistics are shown in Table 1, while inferential tests and degrees of freedom are reported below as Kenward-Rogers approximations, thereby incorporating a conservative adjustment appropriate for mixed, unbalanced designs in the behavioral sciences (Kenward and Roger,
Table 1
| rTMS Location | Ambiguous | 25% | 50% | 75% | All trials |
|---|---|---|---|---|---|
| PERCENT CHOICE OF UNCERTAIN OPTION BY TRIAL TYPE | |||||
| Vertex | 40.8% | 43.5% | 53.1% | 57.8% | 49.5% |
| IPS | 40.0% | 43.5% | 44.3% | 58.1% | 47.1% |
| IFJ | 42.2% | 42.6% | 48.3% | 55.9% | 47.7% |
| All locations | 41.0% | 43.2% | 48.6% | 57.3% | 48.1% |
| MEAN RESPONSE TIME AND STANDARD DEVIATION (MS) BY TRIAL TYPE | |||||
| Vertex | 1088 (438) | 1109 (477) | 1001 (321) | 1049 (404) | 1059 (414) |
| IPS | 1097 (506) | 1097 (532) | 1040 (532) | 1050 (516) | 1069 (524) |
| IFJ | 1132 (629) | 1101 (553) | 1032 (457) | 1066 (518) | 1079 (536) |
| All locations | 1106 (531) | 1102 (522) | 1025 (446) | 1055 (482) | 1069 (494) |
Descriptive statistics for choices and response times.
Descriptive statistics reflect raw, model-unadjusted effects in participants completing all study conditions. Descriptive statistics reported are distinct from inferential, model-adjusted statistics reported in the manuscript text.
Figure 2

IPS and IFJ stimulation differentially affect risky decision making. (A) Disruption of IPS using rTMS biased risky choices on 50% probability trials toward certain options relative to matched choices in the vertex rTMS condition. Positive values indicate that switches from risky options (during vertex rTMS) to safe options (during IPS rTMS) exceeded switches in the opposite direction. A null effect of rTMS on choice would show an effect near zero. (B) Disruption of IPS biased response times for risky trials, speeding selection of the certain option but slowing selection of the risky option. By contrast, IFJ stimulation slowed decisions across both risky and ambiguous trials, regardless of choice. All bars indicate means ± SE. *P < 0.05.
Since the risky option was incentivized for most of our gambles, more conservative decision making would be expected to reduce uncertainty, but also to reduce expected earnings. To quantify the impact of IPS stimulation on expected earnings (i.e., average theoretical earnings if all gamble decisions were resolved) we analyzed a model in which the dependent variable was the expected value of the chosen option (with ambiguous probability modeled as 0.50). We examined the difference in expected value for the chosen option on 50% probability trials, comparing gambles after IPS stimulation to matched gambles after vertex control stimulation. The results of this comparison revealed that the 30% increase in certain choices induced by IPS stimulation corresponded to a 5% decrease in average expected value relative to control rTMS [-$0.34 per trial/-$15.30 per subject, t(4119) = −4.1, p = 0.0001, Supplemental Results: Expected Value]. IPS stimulation thus affected choices such that both risk-taking and expected rewards were reduced for 50% probability trials.
To gain further insight into the observed decrease in risk-taking following IPS stimulation, we examined response time (RT), which is often better suited to revealing subtle influences of rTMS on the efficiency of information processing (Luber and Lisanby,
Discussion
Effective decision makers are adept at weighing the potential benefits of an opportunity against the uncertainty surrounding their realization. Here, we examined the contributions of the left IPS and right IFJ to such decision making by manipulating neural activity within these regions using 1-Hz rTMS. IPS stimulation reduced risk-taking on risky decision trials, while IFJ stimulation slowed decision responses across both risky and ambiguous decision trials. These results provide the first causal evidence differentiating parietal and frontal contributions to risky decision making, and highlight the IPS as a key region supporting the expression of risk-tolerant choices.
In this study, disrupting IPS activity reduced risk-taking—lowering risk at a cost to expected earnings—for decisions with high but known risks and uncertain outcomes. These results demonstrate a causal role for the IPS in risky decision making that is in line with correlative evidence from previous neuroimaging studies. These fMRI studies demonstrated a positive association between IPS activation and increased risk-taking (Huettel et al.,
Given previous results linking IPS activation to individual differences in risk preferences (Huettel et al.,
The IPS is also known as a key locus within a network supporting numerical cognition (Cohen Kadosh et al.,
Despite previous evidence linking IFJ activation with ambiguity preferences (Huettel et al.,
Our investigation relied on the ability of 1 Hz rTMS to induce short-term neurophysiological changes in target brain regions, thereby disrupting typical cognitive processing. Though this effect permits causal investigations of neuroanatomical hypotheses, it also imposes limitations on the interpretation of our within-subject design study, as residual effects from earlier stimulation sessions have the potential to carry over to subsequent sessions. Consideration of the time course of these effects is of particular importance for our design, since we conducted three consecutive rTMS sessions per subject. Previous evidence from behavioral and simultaneous PET/TMS studies suggests that 15 min of 1 Hz rTMS should influence behavior and alter regional cerebral blood flow for about 5–15 min (Chen et al.,
However, while behavioral effects of our rTMS stimulation sessions were expected to dissipate within 15 min, prior studies have found subtle electrophysiological after-effects of 1 Hz rTMS up to about 40 min post-stimulation, even in the absence of behavioral effects (as reviewed by Rossi et al.,
Our results are the first to demonstrate the necessity of unperturbed IPS function for risk tolerance during uncertain decision making, and provide insight into the functions and interactions of fronto-parietal decision circuits. Our focus on the parietal cortex during risky decision making also complements prior rTMS work showing increased risk-taking and impulsivity following disruption of prefrontal self-control processes (Knoch et al.,
Statements
Author contributions
CC, SH, and TE designed the experiment; CC, AK, and FK administered the study; CC analyzed the data; CC, SH, and TE wrote the manuscript; CC, TE, SH, AK, and FK edited and approved the manuscript.
Acknowledgments
The authors thank Holly Lisanby and Bruce Luber for advice regarding the study design. This research was supported by Duke University Department of Psychology and Neuroscience internal research funds (TE).
Conflict of interest
The authors declare that the research was conducted in the absence of any commercial or financial relationships that could be construed as a potential conflict of interest.
Supplementary material
The Supplementary Material for this article can be found online at: http://journal.frontiersin.org/article/10.3389/fnins.2016.00588/full#supplementary-material
- IPS
Intraparietal sulcus
- IFJ
inferior frontal junction
- rTMS
repetitive Transcranial Magnetic Stimulation.
Abbreviations
References
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Summary
Keywords
risk, ambiguity, uncertainty, neuroeconomics, intraparietal sulcus, TMS
Citation
Coutlee CG, Kiyonaga A, Korb FM, Huettel SA and Egner T (2016) Reduced Risk-Taking following Disruption of the Intraparietal Sulcus. Front. Neurosci. 10:588. doi: 10.3389/fnins.2016.00588
Received
15 August 2016
Accepted
07 December 2016
Published
23 December 2016
Volume
10 - 2016
Edited by
Bernd Weber, University of Bonn, Germany
Reviewed by
George Christopoulos, Nanyang Technological University, Singapore; Christopher J. Burke, University of Zurich, Switzerland
Updates

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Copyright
© 2016 Coutlee, Kiyonaga, Korb, Huettel and Egner.
This is an open-access article distributed under the terms of the Creative Commons Attribution License (CC BY). The use, distribution or reproduction in other forums is permitted, provided the original author(s) or licensor are credited and that the original publication in this journal is cited, in accordance with accepted academic practice. No use, distribution or reproduction is permitted which does not comply with these terms.
*Correspondence: Tobias Egner tobias.egner@duke.edu
This article was submitted to Decision Neuroscience, a section of the journal Frontiers in Neuroscience
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