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Peril, Prudence and Planning as Risk, Avoidance and Worry

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Gagne,  C
Department of Computational Neuroscience, Max Planck Institute for Biological Cybernetics, Max Planck Society;
Department of Computational Neuroscience, Max Planck Institute for Biological Cybernetics, Max Planck Society;

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Dayan,  P
Department of Computational Neuroscience, Max Planck Institute for Biological Cybernetics, Max Planck Society;
Max Planck Institute for Biological Cybernetics, Max Planck Society;

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Citation

Gagne, C., & Dayan, P. (submitted). Peril, Prudence and Planning as Risk, Avoidance and Worry.


Cite as: http://hdl.handle.net/21.11116/0000-0008-85B1-9
Abstract
Risk occupies a central role in both the theory and practice of decision-making. Although it is deeply implicated in many conditions involving dysfunctional behavior and thought, modern theoretical approaches to understanding and mitigating risk, in either one-shot or sequential settings, have yet to permeate fully the fields of neural reinforcement learning and computational psychiatry. Here we use one prominent approach, called conditional value-at-risk (CVaR), to examine optimal risk-sensitive choice and one form of optimal, risk-sensitive offline planning. We relate the former to both a justified form of the gambler’s fallacy and extremely risk-avoidant behavior resembling that observed in anxiety disorders. We relate the latter to worry and rumination.