The Way Consumers and Clients Respond to Financial Conversations: Investigation with Measurement of EEG signals

30 Pages Posted: 1 Oct 2018 Last revised: 17 Mar 2019

See all articles by Wookjae Heo

Wookjae Heo

South Dakota State University

Date Written: September 30, 2018

Abstract

This study investigated the way clients responded to financial conversations by employing quantitative EEG signal analysis. The research study proposed to address the following questions: (a) In what way does a financial conversation influence brain waves? (b) In what way does a financial conversation influence consumers’ general activity? and (c) In what way is financial risk tolerance associated with changes in brain waves in different situations? The results showed that: (a) Having a financial conversation affects a person’s behavioral responses unconsciously; (b) Having a financial conversation affects a consumer/client’s subsequent activity, and (c) Professional financial consultants should consider risk tolerance before having a financial conversation with clients.

Keywords: EEG, brain waves, financial conversation, consumer behavior

JEL Classification: D12, D14

Suggested Citation

Heo, Wookjae, The Way Consumers and Clients Respond to Financial Conversations: Investigation with Measurement of EEG signals (September 30, 2018). 2019 Academic Research Colloquium for Financial Planning and Related Disciplines. Available at SSRN: https://ssrn.com/abstract=3257637 or http://dx.doi.org/10.2139/ssrn.3257637

Wookjae Heo (Contact Author)

South Dakota State University ( email )

2220 10th St Apt #1
Brookings, SD South Dakota 57007-0895
United States
6056885835 (Phone)

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