Valence-specific representation of uncertainty in the anterior cingulate is impaired in those with affective symptoms

The ability to seek reward and avoid punishment is a fundamental survival instinct. In natural environments, however, the statistics of rewards and punishments can change independently of one another. In addition, individuals experiencing anxiety and depression may be selectively biased to process rewards and punishments differently. Here, we examine how humans adapt their behavior in such dynamic environments, using a task where cues are associated with independently changing probabilities of rewards (wins) and punishments (losses). We demonstrate that participants dynamically adjust their learning rates based on the relative volatility of each valence. Neuroimaging reveals that this behavioral flexibility is supported by valence-specific segregation of volatility signals within distinct subregions of the anterior cingulate cortex (ACC: perigenual and dorsal). Furthermore, individuals with higher levels of anxiety and depression exhibit a relative reduction in loss-volatility learning adaptation, accompanied by less distinct neural encoding of win and loss volatility in both ACC subregions. Together, our findings indicate that flexible adaptation to separate reward and punishment contingencies relies on distinct, valence-specific tracking of volatility within the prefrontal cortex. These findings suggest a potential computational and neuroanatomical framework for understanding maladaptive learning in affective disorders.