Giorgio Coricelli


Full professor


Giorgio is a professor of economics and psychology at the University of Southern California and member of LaPsyDE’.
Giorgio received his PhD in economics from the University of Arizona in 2002 (under the supervision of James Cox and Vernon Smith, the 2002 Nobel Prize Laureate), and he was then trained as a Postdoctoral Fellow both in economics (Max Planck Institute, Germany; University of York, UK) and neuroscience. He has held postdoctoral fellow, visiting scholar, research fellow, and research scientist positions in a number of research institutes in Europe and USA. He joined the CNRS (French National Science Foundation) in 2004 as a research fellow at the Institut des Sciences Cognitives directed by Prof. Marc Jeannerod; and he obtained the Habilitation à diriger des recherches in Neuroscience (HDR) in 2008 from the University Claude Bernard Lyon I.
He has been the director of the Neuroeconomics, emotions and decisions research group at the Cognitive Neuroscience Center of the CNRS in Lyon, the team leader of the Neuroscience of Economic Decision making group at the LNC, ENS in Paris, and he has been the PI of an ERC-Consolidator grant (“Transfer Learning within and between brains”) at CIMeC of the University of Trento in Italy.
Giorgio’s research focuses on the interplay of cognitive and emotional systems, including the role of emotions in decision-making. His goal is to apply findings from behavioral decision theory to study the brain structures that shape judgments and decision making in both individual and social contexts. This research involves a multidisciplinary approach (neuroeconomics) that draws from behavioral and experimental economics, game theory, neuroimaging (fMRI, MEG), neuropsychology (studying patient populations), and cognitive neuroscience. His research has found also applications in the study of adolescents and children’s behavior.

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Ambrosino, A., Bault, N., Coricelli, G. (2008). Neural basis of emotional aspects of economic decision making. Revue d'économie politique, 1, 63-73.

Aziz-Zadeh, L., Kilroy, E., Coricelli, G. (2018). Understanding activation patterns in shared circuits: Toward a value driven model. Frontiers Human Neuroscience, 12, 180.

Bault, N., Coricelli, G., Rustichini, A. (2008). Interdependent utilities: How social ranking affects choice behavior. PLoS One, 3(10), e3477.

Bault, N., Joffily, M., Rustichini, A., Coricelli, G. (2011). Medial prefrontal cortex and striatum mediate the influence of social comparison on the decision process. Proceedings of the National Academy of Sciences USA. PNAS, 108(38), 16044-9.

Bault, N., Wydoodt, P., Coricelli, G. (2016). Different attentional patterns for regret and disappointment: an eye-tracking study. Journal of Behavioral Decision Making. 28:194-205.

Bault, N., di Pellegrino, G., Opolczynski, G., Monti, A., Braghittoni, D., Thibaut, F., Rustichini, A., Coricelli, G. (2019). Dissociation between private and social counterfactual value signals following ventromedial prefrontal cortex damage. Journal of Cognitive Neuroscience, 31(5): 639–656.

Bavard, S., Lebreton, M., Khamassi, M., Coricelli, G., Palminteri S. (2018). Reference-point centering and range-adaptation enhance human reinforcement learning at the cost of irrational preferences. Nature Communications, 9, 4503.

Büchner, S., Coricelli, G., and Greiner, B. (2007). Self-centered and other-regarding behavior in the Solidarity game. Journal of Economic Behavior and Organization, 62(2), 293-303.

Burnett, S., Bault, N., Coricelli, G., Blakemore S.J. (2010). Adolescents' heightened risk-seeking in a probabilistic gambling task. Cognitive Development, 25(2), 183-196.

Camille, N., Coricelli, G., Sallet, J., Pradat, P., Duhamel, JR, and Sirigu, A. (2004). The involvement of the orbitofrontal cortex in the experience of regret. Science, 304(5674), 1167-1170.

Chierchia, G., and Coricelli, G. (2011). The neuroeconomics of cognitive control. In Neural Basis of Motivational and Cognitive Control, R. Mars, J. Sallet, M. Rushworth and N. Yeung (Eds). The MIT Press, Cambridge, MA, USA

Chierchia, G, Coricelli, G. (2015). The impact of perceived similarity on tacit coordination: propensity for matching and aversion to decoupling choices. Frontiers in Behavioral Neuroscience, 9, 202.

Chierchia, G., Nagel, R., Coricelli, G. (2018). Betting on nature or betting on others: anti-coordination induces uniquely high levels of entropy. Scientific Report, 8, 3514 .

Chierchia, G., Tufano, F., and Coricelli, G. (2020). The differential impact of friendship on cooperative and competitive coordination. Theory and Decision, 423-452.


Clausi, S., Coricelli, G., Pisotta, I., Pavone, E.F., Lauriola, M., Molinari, M., Leggio, M. (2015) Cerebellar damage impairs the self-rating of regret feeling in a gambling task. Frontiers in Behavioral Neuroscience, 9-113

Coricelli, G., McCabe, K.A. and Smith V.L. (2000). Theory-of-Mind Mechanism in Personal Exchange. Affective Minds, Elsevier Science Publishers, pp. 249-259.

Coricelli, G., and Luini, L. (2003). Double Moral Hazard: an Experiment on Warranties. Economia impresa e mercati finanziari, 2, 7-25.

Coricelli, G. (2004). How the Brain Evaluates and Predicts Monetary Rewards. Homo Oeconomicus, 21, 509-520.

Coricelli, G. (2004). Reciprocity-based emotions: An experimental study. Rivista Internazionale di Scienze Sociali, 359-379.

Coricelli, G., Fehr, D., and Fellner, G. (2004). Partner selection in public goods experiments. Journal of Conflict Resolution, 48(3), 356-378.

Coricelli, G., (2005). Two-levels of mental states attribution: from automaticity to voluntariness. Neuropsychologia, 43, 294-300.

Coricelli, G., Camille, N., Pradat-Diehl, P, Duhamel, JR, Sirigu, A. (2005). Why anticipated regret influences subjects’ choice. Science, 308, 1260-1261.

Coricelli, G., Critchley, H.D., Joffily, M., O’Doherty, J.D., Sirigu, A., and Dolan, R.J. (2005). Regret and its Avoidance: A Neuroimaging Study of Choice Behavior. Nature Neuroscience, 8, 1255 - 1262.

Coricelli, G., Gonzales-Morales, L. and Mahlstedt, A. (2006). The investment game with asymmetric information. Metroeconomica, 57, 1, 13-30.

Coricelli, G., Dolan, R.J., Sirigu, A. (2007). Brain, emotion and decision making: the paradigmatic example of regret. Trends in Cognitive Sciences, 11(6), 258-265.

Coricelli, G. (2008). The potential role of regret in the physician-patient relationship: insights from neuroeconomics. Advances in Health Economics and Health Services Research, 20, 85-97.

Coricelli, G., Schwarzbach, J. Cervello e decisioni (2008). In Bonini, N., Del Missier, F. e Rumiati R. (Eds.) Giudizio e Decisione.Il MULINO.

Coricelli, G., and Nagel, R. (2009). Neural correlates of depth of strategic reasoning in medial prefrontal cortex. PNAS, 106(23), 9163-8.

Coricelli, G., and Rustichini A. (2009). “Reward-based emotions: affective evaluation of outcomes and regret learning”. In Tremblay, L. and Dreher, J.C. (Eds). Handbook of Reward and Decision Making, Elsevier.

Coricelli, G., and Nagel, R. (2010). Neuroeconomics of depth of reasoning. History of Economic Ideas, 18, 123-131.

Coricelli, G., and Nagel, R. (2010). Walking with Reinhard Selten and the Guessing Game: From the Origin to the Brain. In “The Selten School of Behavioral Economics”, Abdolkarim Sadrieh and Axel Ockenfels (Eds.). Heidelberg: Springer, pp. 111-123.

Coricelli, G., and Rustichini, A. (2010). Counterfactual Thinking and Emotions: Regret and Envy Learning. Philosophical Transactions of the Royal Society B. 365, 1538, 241-7.

Coricelli, G., Joffily, M., Montmarquette, C., and Villeval M-C (2010). Cheating, Emotions, and Rationality: An Experiment on Tax Evasion. Journal of Experimental Economics, 13, 226-247.

Coricelli, G., Rusconi, E. (2011) Probing with TMS the decisional brain. Handbook of Process Tracing Methods for Decision Research. Psychology Press, pp. 205-222.

Coricelli, G., and Nagel, R. (2012). The neural basis of bounded rational behavior. Revista International de Sociología 70, 39-52.

Coricelli, G. and Joffily, M. (2013). Cognitive-based emotions: theory and evidence from the brain. In F. Paglieri, L. Tummolini, M. Miceli, R. Falcone (Eds.), The goals of cognition: essays in honor of Cristiano Castelfranchi. London: College Publications. 203-209.

Coricelli, G., Rusconi, E., Villeval M-C. (2014). Tax Evasion and emotions in repeated interactions: An empirical test of re-integrative shaming theory. Journal of Economic Psychology, 40, 49-61.

Coricelli, G. (2015). Strategic Mentalizing: the neural correlates of strategic choice. Brain Mapping: An Encyclopedic Reference, A.W. Toga et al (Eds). 153-158.

Coricelli, G. and Nagel, R. (2015). Responses from the body: An introduction to Neuroeconomics. in Experimental Economics, Eds. Branas-Garza and Cabrales. Palgrave McMillan

Coricelli, G. Diecidue, E. and Zaffuto, F. (2018). Evidence for Multiple strategies in choice under risk. Journal of Risk and Uncertainty, 56(2), 193-210.

Coricelli, G., Bault, N. and Rusconi, E. (2018). Probing the decisional process with noninvasive brain stimulation. Handbook of Process Tracing Methods for Decision Research. Psychology Press

Coricelli, G., Polonio, L., & Vostroknutov, A. (2020). The Process of Choice in Games. In C. M. Capra, R. T. A. Croson, M. L. Rigdon, & T. S. Rosenblat (Eds.), Handbook of Experimental Game Theory (pp. 69-94). Edward Elgar Publishing.

Fouragnan, E., Chierchia, G., Greiner, S., Neveu,R., Avesani, P., and Coricelli, G. (2013). Reputational priors magnify striatal responses to violations of trust. The Journal of Neuroscience, 33(8), 3602–3611

Giardini, F., Coricelli, G., Joffily, M., Sirigu, A. (2007). The effect of desirability on confidence. In: Abdellaboui, M., Hey J.D. (Eds.) Advances in Decision Making under Risk and Uncertainty. Heidelberg: Springer.

Giorgetta, C., Grecucci, A., Bonini, B., Coricelli, G., Demarchi, G., Braun, C., Sanfey, A. (2013). Waves of regret: A MEG study of emotion and decision-making. Neuropsychologia, 51(1), 38-51.

Griessinger, T., and Coricelli G. (2015). The Neuroeconomics of Strategic Interaction. Current Opinion in Behavioral Sciences, 3, 73-79.

Grygolec, J., Coricelli, G. and Rustichini, A. (2012). Positive Interaction of Social Comparison and Personal Responsibility for Outcomes. Frontiers in Cognitive Science

Guerini, R., FitzGibbon, L., and Coricelli G. (2020). Regret and Relief in 3- to 10-year-old Children: The Ontogenesis of Counterfactual Emotions and the Agency Effect. Journal of Economic Behavior Organization, 179, 797-806.

Joffily, G. and Coricelli G. (2013). Emotional valence and the free-energy principle. PLoS Computational Biology, 9(6), e1003094.

Larquet, M., Coricelli, G., Opolczynski, G., Thibaut, F. (2010). Impaired decision-making in schizophrenia and orbitofrontal cortex patients. Schizophrenia Research, 116 (2-3), 266-73.

Nagel, R., Brovelli, A., Heinemann, F., Coricelli, G. (2018). The neural basis of risk and strategic uncertainty. Social and Affective Neuroscience, 13(1), 52-62.

Neveu, R., Neveu, D., Barsumian, F., Fouragnan, E., Carrier, E., Perroud, A., Lai, M., Sultan, J.,Nicolas, A., and Coricelli, G. (2014). Improved planning abilities in binge eating. PLoS One, 9(8), e105657.

Neveu R., Fouragnan E., Barsumian F., Carrier E., Lai M., Nicolas A., Neveu D., and Coricelli G. (2016). Preference for safe over risky options in binge eating. Front. Behav. Neurosci. 10, 65. doi: 10.3389/fnbeh.2016.00065

Neveu, R., Neveu, D., Guillaume Barbalat,G., Schmidt, U., Coricelli, G., and Nicolas, A. (2016). The sequential binge, a new therapeutic approach for binge eating: a pilot study, PLoS One, 11(11), e0165696.

Neveu, R, Neveu, D., Carrier, E., Gay, A., Nicolas, A., and Coricelli G.(2018). Functional organization of cognitive control and goal oriented valuation systems in bulimia nervosa: an fMRI study. EBioMedicine 34, 214-222.

Palminteri, S., Khamassi, M., Joffily, M., and Coricelli, G. (2015). Contextual modulation of value signals in reward and punishment learning. Nature Communications, 6, 8096.

Palminteri, S., Kilford, E.J., Coricelli, G., Blakemore, S-J (2016). The computational development of reinforcement learning during adolescence, PLoS Computational Biology, 12(6), e1004953.

Pischedda, D., Palminteri, S. Coricelli, G. (2020). The effect of counterfactual information on outcome value coding in medial prefrontal and cingulate cortex: from an absolute to a relative neural code. The Journal of Neuroscience, 40(16), 3268-3277.


Polonio, L., Di Guida, S., Coricelli G. (2015). Strategic sophistication and attention in games: an eye-tracking study. Games and Economic Behavior, 84, 80-96.

Polonio, L., Coricelli G. (2019). Testing the level of consistency between choices and beliefs in games using eye-tracking. Games and Economic Behavior, 113, 566-586.

Robic, S, Sonie, S, Fonlupt, P, Henaff, M.-A., Touil, N., Coricelli, G., Mattout, J., Schmitz, C. (2015). Decision-Making in a Changing World: A Study in Autism Spectrum Disorders. Journal of Autism and Developmental Disorders. 45(6), 1603-13.

Salvador, A., Worbe, Y., Delorme, C., Coricelli, G., Gaillard, R., Robbins, TW., Hartmann, A., Palminteri, S. (2017). Specific effect of a dopamine partial agonist on counterfactual learning: evidence from Gilles de la Tourette syndrome. Scientific Report, 7, 6292.

Simioni, S., Annoni, J-M., Coricelli, G., Bault, N., Kleeberg, J., Du Pasquier,R.A., Gschwind, M., Vuilleumier, P., Schluep, M. (2012). Multiple sclerosis decreases explicit counterfactual processing and risk taking in decision making. PLoS One, 7(12), e50718.

Timberlake, B., Coricelli, G., Bault, N. (2020). The Moral Psychology of Regret, in Mark Alfano (ed.). Moral Psychology of the Emotions. Rowman Littlefield International.


Vostroknutov, A., Polonio, L, and Coricelli, G. (2018). Observational learning and intelligence. Scientific Report 8, 6896.

Zalla, T., Robic, S., Chaste, P., Leboyer, M., Sirigu, A., Coricelli, G. (2014). Feelings of Regret and Disappointment in Adults with High-Functioning Autism. Cortex, 58, 112-122.

Zonca, J., Coricelli, G., and Polonio L. (2019). Gaze data reveal individual differences in relational representation processes. Journal of Experimental Psychology: Learning, Memory and Cognition. 46(2), 257-279.

Zonca, J., Coricelli, G., and Polonio, L. (2019). Does exposure to alternative decision rules change gaze patterns and behavioral strategies in games? Journal of the Economic Science Association, 5, 14-25

Zonca, J., Coricelli, G., Polonio, L. (2020). Gaze Patterns disclose the link between cognitive reflection and sophistication in strategic interaction. Journal of Behavioral Decision Making, 15(2), 230-245.