What can we learn from neurofinance ?
| Autor: | Luc Meunier, François Desmoulins-Lebeault, Jean-François Gajewski |
|---|---|
| Přispěvatelé: | EESC-GEM Grenoble Ecole de Management, Université de Lyon, Laboratoire de Recherche Magellan, Université Jean Moulin - Lyon 3 (UJML), Université de Lyon-Université de Lyon-Institut d'Administration des Entreprises (IAE) - Lyon, Grenoble Ecole de Management, Centre de Recherche Magellan |
| Jazyk: | angličtina |
| Rok vydání: | 2018 |
| Předmět: |
Marketing
Economics and Econometrics hormones JEL: D - Microeconomics/D.D8 - Information Knowledge and Uncertainty/D.D8.D87 - Neuroeconomics time-discounting brain 05 social sciences risk aversion emotion JEL: D - Microeconomics/D.D8 - Information Knowledge and Uncertainty/D.D8.D81 - Criteria for Decision-Making under Risk and Uncertainty [SHS.ECO]Humanities and Social Sciences/Economics and Finance 050105 experimental psychology information [SHS]Humanities and Social Sciences 03 medical and health sciences 0302 clinical medicine Accounting Political science Neurofinance [SHS.GESTION]Humanities and Social Sciences/Business administration 0501 psychology and cognitive sciences genes Humanities 030217 neurology & neurosurgery Finance |
| Zdroj: | Finance Finance, 2018, 39 (2), pp.93-148 Finance, Presses universitaires de Grenoble, 2018, 39 (2), pp.93-148 |
| ISSN: | 0752-6180 2101-0145 |
| Popis: | International audience; Neurofinance is a relatively recent field which aims to unveil the neurobiologicalmechanisms through which decisions are made in finance. This article investigateshow neurosciences can contribute to the study of finance and the most appropriateways for neuroscientific methodologies to be applied to financial situations. In orderto examine these areas, we have produced a literature review around three axesof the main neuroscientific studies published in finance: financial risk; discountingand credit risk; information and trading decisions. One of the crucial insights offeredby neurofinance is how to reconcile classic and behavioral finance by showingthat emotions are critical to rational decision-making, in spite of also being part ofthe origin of biases. Through its unique set of techniques, neurofinance is able topinpoint the biological and neurological explanations behind some of the commonbiases highlighted by behavioral finance, as well as tackle some novel questions.We conclude this review by pointing toward potentially fruitful avenues for futureresearch and by highlighting which methods appear particularly well adapted forneurofinancial studies. |
| Databáze: | OpenAIRE |
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