What is risk and risk attitudes? How is risk represented in the brain?

It is important to understand how humans make decisions in isolation (i.e. with no other people to be involved). In a series of studies (Journal of Neuroscience, 2008; 2010; PNAS 2009) we tried to uncover the behavioral, computational and neuronal underpinnings of risk. Among other findings, we identified a brain signal at right dorsolateral prefrontal cortex that was associated with higher risk aversion and behavioral and neuronal representations of how humans distort probabilities in a non-linear fashion.

Risk aversion paper (Journal of Neuroscience): Get paper here

Probability distortion paper (Journal of Neuroscience): here

Risk vs. utility (PNAS): here