Cog Lunch: India Pinhorn

April 28, 2026
12pm
Location: 46-3189

Zoom: https://mit.zoom.us/j/96374544734

Speaker: India Pinhorn
Affiliation: Sharot Lab

Title: Two currencies of value in the human brain: intrinsic and extrinsic

Abstract: A central hypothesis in decision neuroscience is the ‘neural common currency’ hypothesis. It suggests that the brain uses a single, common scale to represent the subjective value of diverse options. For example, to decide whether to spend the next hour reading a scientific article, visiting a museum or eating pepperoni pizza. However, the fact that the same system codes for the value of fundamentally different types of stimuli does not mean that the brain uses one system to represent different types of value. 

Across two experiments (N = 190) participants evaluated semantic information, visual art, and material goods on multiple features, which were reduced to two orthogonal value dimensions: intrinsic and extrinsic. Intrinsic value reflected the stimulus’ capacity to alter internal states associated with cognition and aesthetics. Extrinsic value reflected the stimulus’ usefulness for guiding action to alter the external environment. Both components independently guided choice and accounted for a positive hedonic reaction in the form of liking. Importantly, an fMRI study, in which participants evaluated semantic information and visual art, revealed that only intrinsic value was coded in the reward circuitry (e.g., striatum, vmPFC, OFC), while extrinsic value was coded in cortical regions including the PCC, precuneus, and insula. Early visual and language processing areas were also modulated by intrinsic value, but not extrinsic value. The findings question the assumption that the traditional reward system encodes all sources of value. Instead, it may be more attuned to value that is derived from cognition or aesthetics per-se. 

If the reward system preferentially tracks intrinsic value, what is its adaptive function? Recent work from our lab shows that semantic information high in intrinsic value reshapes knowledge networks toward a small-world topology, associated with greater creativity and learning. Intrinsic value may thus guide us toward stimuli which, even without direct instrumental benefit, will help us to navigate our complex world.