Measuring beliefs and rewards: a neuroeconomic approach
Abstract
We test the reward prediction error (RPE) theory of dopaminergic function, based on a recent axiomatization by Caplin and Dean (Quarterly Journal of Economics, 123 (2008), 663–702). These tests are satisfied by neural activity in the nucleus accumbens, an area rich in dopamine receptors. We find evidence for separate positive and negative reward prediction error signals.