An ALE Meta-Analysis on Investment Decision-Making

Brain Sciences

卷:11

Joaquin Lopez-Pascual¹  Elena Ortiz-Teran²  Ibai Diez³ 

[1] Departamento de Economía de la Empresa, Facultad de Ciencias Jurídicas y Sociales, Universidad Rey Juan Carlos, 28032 Madrid, Spain;

[2] Facultad de Ciencias Jurídicas y Sociales, Universidad Rey Juan Carlos, 28032 Madrid, Spain;

[3] Gordon Center for Medical Imaging, Department of Radiology, Massachusetts General Hospital, Harvard Medical School, Boston, MA 02115, USA;

关键词: neuroeconomics;    investor;    stock;    reward;    risk;    ventral striatum;   

DOI  :  10.3390/brainsci11030399

来源: DOAJ

【 摘 要 】

It is claimed that investment decision-making should rely on rational analyses based on facts and not emotions. However, trying to make money out of market forecasts can trigger all types of emotional responses. As the question on how investors decide remains controversial, we carried out an activation likelihood estimation (ALE) meta-analysis using functional magnetic resonance imaging (fMRI) studies that have reported whole-brain analyses on subjects performing an investment task. We identified the ventral striatum, anterior insula, amygdala and anterior cingulate cortex as being involved in this decision-making process. These regions are limbic-related structures which respond to reward, risk and emotional conflict. Our findings support the notion that investment choices are emotional decisions that take into account market information, individual preferences and beliefs.

【 授权许可】

Unknown