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How studying decisions with more than two alternatives influence neuroeconomic theories

When people decide between more than two options, they often show choice patterns that are incompatible with the independent evaluation of options, thereby violating a core assumption of classical economic theory. Hence, studying such decision environments tells us something about how decisions are actually made, which also has important implications for neural models of decision making. I will present two studies in which we examined multi-alternative decision-making and valuation using a combined approach of cognitive modeling, fMRI, and eye-tracking analyses.