Neural correlates of willingness to pay for items: A meta-analysis of functional magnetic resonance imaging studies

Abstract

Willingness to pay (WTP) pervades every marketplace transaction, therefore, understanding how the brain makes bidding decisions is essential in consumer neuroscience. Although some neuroimaging studies have investigated the neural networks of WTP, systematic understanding remains limited. This study identified reliable neural networks activated by the WTP across different reward types and assessed common and distinct neural networks for different reward types (food and other) bids. We conducted an activation likelihood estimation (ALE) meta-analysis on WTP across different reward types (25 studies; 254 foci; 705 participants), and to compared neural representations of WTP for food reward (22 studies; 232 foci; 628 participants) and other rewards (7 studies, 61 foci; 177 participants). The ALE results revealed that the brain centers of WTP for different rewards mainly consist of the bilateral inferior frontal gyrus (IFG), bilateral insula, bilateral anterior cingulate cortex (ACC), along with the left caudate. This suggests that neural networks encoding WTP for different rewards consist of brain regions associated with reward processing, cost-benefit calculations, and goal-directed action activities. In addition, consistent activation of the bilateral IFG and bilateral insula for food but no other rewards bids suggest their involvement in the neural network of appetite. WTP for food and other rewards commonly activated ACC, suggesting a common region encoding bids for different rewards. Our findings provide novel insights into neural networks associated with WTP for food and other rewards bids and the mechanisms underlying WTP across different reward types.