Neurofinance

Peterson, Richard

doi:10.1002/9781118813454.ch21

Cited by 3 publications

(3 citation statements)

References 41 publications

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“…Researchers in neurofinance use specific psychometric instruments in field other than the laboratory (Peterson, 2014). In field study, most of time commonly used technique for data gathering is questionnaire (Stone, 1978).…”

Section: The Scale Development Processmentioning

confidence: 99%

Construction and Validation of Neurotransmitters Scale

Ahmad

Tahir

Sohail

2018

GSSR

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In this research, we visit literature directed seven steps procedure of scale development and incorporate it in studying dopamine, serotonin, epinephrine and norepinephrine and thus finalized 16 items neurotransmitters scale. We incorporated 6 samples for construction of reliable multi-aspect questionnaire that imitated across the samples. We confirm the content adequacy qualitatively and quantitatively including discriminant and convergent validity. We also established the criterion-related validity through the instrument’s relation with measures of behavioral aspects of individual investors. This research proposes that the neurotransmitters scale is valid and reliable. Neurotransmitters as dopamine, serotonin, epinephrine and norepinephrine have significant use for individual stock markets investors. This investigators hope that the corroborated scale is reliable as well as valid and will be appropriate to utilize in upcoming studies of neurofinance.

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Section: The Scale Development Processmentioning

confidence: 99%

Construction and Validation of Neurotransmitters Scale

Ahmad

Tahir

Sohail

2018

GSSR

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“…Neurofinance studies are aimed at understanding how the brain evaluates information about the decision choices that are uncertain, time-constrained, lead to potential gains or potential losses, are risky and strategic in nature (Peterson, 2006). The following section highlights some of the pioneering works in the field of neurofinance.…”

Section: Origin Development and Meaning Of Neurofinancementioning

confidence: 99%

“…The studies in neuroscience have shown that certain parts of the brain are associated with certain functions. Further, neurofinance studies are attempting to understand the blindspots that the brain has pertaining to pattern recognition, framing effects; reference points; social context and herding; negotiating and bargaining; trust; familiarity and attachment, among other things (Peterson, 2006). According to Cohen (2005, p. 3):…”

Section: Neurofinance and Investment Behaviourmentioning

confidence: 99%

Neurofinance and investment behaviour

Sahi

2012

Studies in Economics and Finance

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Purpose -The purpose of this paper is to present a review as well as a synthesis of the extant literature in the field of Neurofinance. The paper has been divided into eight parts. The first and second parts introduce the paper and dwell upon the brain functions in financial decisions. Part three presents the origin of Neurofinance and part four explains the difference between traditional finance, behavioural finance and neurofinance. Part five and six of the paper look into the research studies in Neurofinance and their application. Part seven gives a brief discussion on the limitations of neurofinance studies and part eight gives the conclusion. Design/methodology/approach -The existing body of academic literature pertinent to the domain of Neurofinance was reviewed so as to provide an integrated portrayal and synthesis of the current level of knowledge in this field. This paper covers the insights on the subject for developing a deeper understanding of the investor's psychology. Findings -Neurofinance is a very young discipline. It tries to relate the brain processes to the investment behaviour. Most of the researches in the domain of neurofinance focus on trading behaviour. It would be interesting to explore the workings of the brain for other investment behaviours too like personal financial planning decisions, etc. Originality/value -Neurofinance is emerging as an alternate field of study and practice and this paper is an attempt to look at the development of Neurofinance and its role in developing a better understanding of the investor behaviour.

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Measuring the role of neurotransmitters in investment decision: A proposed constructs

Khan

Mubarik

2020

Int. J Fin Econ

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The purpose of this study is to develop a reliable and valid neurotransmitter's measurement scale. The developed scale would be instrumental in studying the role of neurotransmitters in financial decisions making. A threefold approach was used to develop and validate the scale. The first stage was a qualitative exploratory step for item generation, second initial purification of the stage 1 findings using exploratory factor analysis, and third was validation of the scale using confirmatory factor analysis. The findings accrued an eight-dimensional second-order model of neurotransmitters (adrenaline, noradrenaline, dopamine, serotonin, GABA, acetylcholine, glutamate, and endorphins), comprising 58 items. The findings of the study provide a suggest that investors and institutions not only to re-define rationality but also to reconsider the effect of neurotransmitters on financial decisions and investment behaviour. This research contributes to the body of knowledge by defining and verifying substantial dimensions of neurotransmitters. In future studies, an eight-dimensional measurement scale could be further used as a research tool to assess how neurotransmitters are involved in our day-to-day financial decisions in different cultures.

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Neurofinance

Cited by 3 publications

References 41 publications

Construction and Validation of Neurotransmitters Scale

Construction and Validation of Neurotransmitters Scale

Neurofinance and investment behaviour

Measuring the role of neurotransmitters in investment decision: A proposed constructs

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