Neurofinance: How Do We Make Financial Decisions

20 Pages Posted: 12 Nov 2013

See all articles by Armando da Rocha

Armando da Rocha

Research on Artificial and Natural Intelligence (RANI)

João Paulo Vieito

Scholl of Business Studies - Polytechnic Instituto of Viana do Castelo

Fábio Rocha

Research on Artificial and Natural Intelligence (RANI)

Date Written: November 11, 2013

Abstract

To cope with the increasing economic complexity of modern life we need a better financial education what implies a better knowledge of how our brain process financial decision making. This is the subject of Neurofinances an emerging multidisciplinary area of research at the frontiers of Neurosciences, Economy, Finances and Accounting. Taking advantage of the new non-invasive Neurosciences techniques to study the human brain, Neurofinances is investigating the brain activity associated with financial decision. Here we discuss how Functional Magnetic Ressonance Imaging (fMRI) and Electroencephalogram (EEG) are being used in these studies. A short survey of fMRI studies is presented. Because we believe that EEG is the tool of choice for studying decision making, we present some results from our group on stock market investment decision. Finally, we conclude that how this kind of knowledge may be of guidance on financial education.

Suggested Citation

da Rocha, Armando and Vieito, João Paulo and Rocha, Fábio, Neurofinance: How Do We Make Financial Decisions (November 11, 2013). Available at SSRN: https://ssrn.com/abstract=2352820 or http://dx.doi.org/10.2139/ssrn.2352820

Armando Da Rocha (Contact Author)

Research on Artificial and Natural Intelligence (RANI) ( email )

Rua Tenente Ary Aps, 172
Jundiai, 13207-110
Brazil

João Paulo Vieito

Scholl of Business Studies - Polytechnic Instituto of Viana do Castelo ( email )

Avenida Miguel Dantas
Valença, 4930
Portugal

Fábio Rocha

Research on Artificial and Natural Intelligence (RANI) ( email )

Rua Tenente Ary Aps, 172
Jundiai, 13207-110
Brazil

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