eLife Assessment
This study represents an important contribution to the study of decision-making under risk, bringing an interdisciplinary approach spanning economic theory, behavioral neuroscience, and computational modeling to test how choice preference is influenced by rare and extreme events. The authors aim to test whether rats are indeed sensitive to these rare and extreme events despite their infrequent occurrence, and to isolate behavioral evidence for avoidance of "Black Swans" - rare and extreme losses. The evidence for specific sensitivity to rare and extreme events however remains incomplete, owing in part to the difficulty of isolating the effect of these events beyond that arising from risk preferences more generally in both task design and in the computational modeling of the choice behavior. Despite this, and given the approach here brings a relatively novel and highly interdisciplinary perspective, this paper will be of broad interest to those seeking to understand animal behavior through the lens of economic choice and decision theory.