Topic: conditional value at risk (CVaR)

Aims: Optimal decision making in a volatile environment relies on the brain's representation of uncertainty. Expected utility provides a normative theory for explaining decision outcomes under uncertainty, though its limitations have prompted the exploration of other preference measures. Specifically, we do not yet fully understand which preference measure the brain uses for probabilistic decision making, and how dopaminergic system might serve to implement this measure. Here we suggest a new approach to find this preference measure and show how it can be computed within a population of dopami