The Somatic Marker Hypothesis

This theoretical shift towards the constant monitoring of feelings of risk seems to have occurred for two main reasons the influence of the somatic marker hypothesis (SMH) (Damasio, 1994, 2003 Fuller, 2007) and the results of one experimental study in particular (Fuller et al., 2008b). (Although it is also worth noting that Fuller believes RAT is simply a catchier name than TDH (Fuller, 2008, 2011).) 

Rational in terms of utility—that is, the best choice for the least loss. 

The SMH also ties in with a relatively recent view of risk assessment where it is suggested that there are two forms of risk-based decision making (Slovic et al., 2004). The first is referred to as affect heuristics and is similar to the SMH in that it refers to learnt, fast and automatic gut emotional reactions used to guide decision making. The second form of decision making is referred to as analytic and is seen as the more traditional, slow, deliberate subjective utility maximisation process where the benefits and costs of a particular behaviour are weighed up. 

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Bechara, A., Damasio, H., Tranel, D., and Damasio, A. R. 2005. The Iowa gambling task and the somatic marker hypothesis Some questions and answers. Trends in Cognitive Sciences, 9(4), 159-162. 

Dunn, B. D., Dalgleish, T., and Lawrence, A. D. 2006. The somatic marker hypothesis A critical evaluation. Neuroscience Biobehavioral Reviews, 30(2), 239-271. 

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