Disentangling reward processes underlying payoff maximization from individual differences in gain frequency bias and reinforcement learning

Choice selection strategies and decision making are typically investigated using multiple-choice gambling paradigms that require participants to maximize reward payoff. However, research shows that performance in such paradigms suffers from individual biases towards the frequency of gains to choose smaller local gains over larger longer term gain, also referred to as melioration. Here, we developed a simple two-choice reward task, implemented in 186 healthy human adult subjects across the adult lifespan to understand the behavioral, computational, and neural bases of payoff maximization versus melioration. The observed reward choice behavior on this task was best explained by a reinforcement learning model of differential future reward prediction. Simultaneously recorded and source-localized electroencephalography (EEG) showed that diminished theta-band activations in the right rostral anterior cingulate cortex (rACC) correspond to greater reward payoff maximization, specifically during the presentation of cumulative reward information at the end of each task trial. Notably, these activations (greater rACC theta) predicted depressed mood symptoms, thereby showcasing a reward processing marker of potential clinical utility. Significance StatementThis study presents cognitive, computational and neural (EEG-based) analyses of a rapid reward-based decision-making task. The research has the following three highlights. 1) It teases apart two core aspects of reward processing, i.e. long term expected value maximization versus immediate gain frequency melioration based choice behavior. 2) It models reinforcement learning based behavioral differences between individuals showing that observed performance is best explained by differential extents of reward prediction. 3) It investigates neural correlates in 186 healthy human subjects across the adult lifespan, revealing specific theta band cortical source activations in right rostral anterior cingulate as correlates for maximization that further predict depressed mood across subjects.