EEG Activity Associated to Investment Decisions: Gender Differences

Journal of Behavioral and Brain Science, 2015, 5, 203-211

9 Pages Posted: 1 Aug 2015

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

Eduardo Massad

University of São Paulo (USP)

Fábio Rocha

Research on Artificial and Natural Intelligence (RANI)

Roberto Lima Filho

University of Sao Paulo, School of Medicine

Date Written: June 30, 2015

Abstract

Literature in finance and neurosciences shows that male and female differ on many relevant issues concerning financial decision investment. Here, we studied the EEG activity recorded while volunteers were playing a stock trading game to investigate these gender differences. 20 males and 20 females made 100 trading decisions using a portfolio of 200 shares of 7 different companies. Males and females were equally successful in earning above the market. sLORETA was used to identify sources of EEG recorded 2 seconds before trading decision. Results showed that male and female use different sets of neuron to make equally successful financial decisions.

Keywords: Neurofinance, EEG, stock investment, brain activation, Loreta, Decision making

Suggested Citation

da Rocha, Armando and Vieito, João Paulo and Massad, Eduardo and Rocha, Fábio and Lima Filho, Roberto, EEG Activity Associated to Investment Decisions: Gender Differences (June 30, 2015). Journal of Behavioral and Brain Science, 2015, 5, 203-211. Available at SSRN: https://ssrn.com/abstract=2637958

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

Eduardo Massad

University of São Paulo (USP) ( email )

Brazil

Fábio Rocha

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

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

Roberto Lima Filho

University of Sao Paulo, School of Medicine ( email )

Av. Dr. Arnaldo, 455
São Paulo, São Paulo 01246903
Brazil

HOME PAGE: http://www.fm.usp.br

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