Advances in Consumer Research
Issue 2 : 1043-1050
Original Article
An Exploratory Study on Awareness About Neurofinance and Its Impact on Financial Decision Making
Loading Image...
 ,
 ,
 ,
1
Assistant Professor School of Management, Babu Banarsi Das University, Lucknow, INDIA
2
Assistant professor School of Management, Babu Banarsi Das University, Lucknow, INDIA
Abstract

The concept of neurofinance, which merges neuroscience and finance, has been developed to understand the psychological and neurological underpinnings of financial decision-making. By using brain imaging technologies and psychological assessments, researchers can observe how different areas of the brain are activated during financial decisions, such as risk-taking, investing, and saving. This interdisciplinary approach provides deeper insights into the emotional and cognitive processes influencing financial behavior, challenging traditional economic theories that assume rationality. Neurofinance aims to improve financial decision-making models by incorporating human psychological complexity, leading to more accurate predictions and better financial strategies. A study on the awareness of Neurofinance and its impact on financial decision-making is crucial as it bridges the gap between neuroscience and financial behavior. By exploring how individuals' understanding of Neurofinance—an interdisciplinary field that combines neuroscience with finance—affects their decision-making processes, such research can illuminate how cognitive and emotional factors influence financial choices. This understanding can lead to more effective financial strategies, improved financial education, and enhanced tools for managing investments and risk. Ultimately, such a study can contribute to optimizing financial outcomes and decision-making practices by integrating insights from brain science into financial theory and practice.

Keywords
Recommended Articles
Original Article
Integrating Human Capital Analytics with Strategic Decision-Making: A Cross-Industry Empirical Study
Original Article
Socio-Demographic Factors and Associated High-Risk Pregnancy in Tribal and Non-Tribal Adolescent Mothers: A Community-Based Retrospective Study
Original Article
Appraising the Digital Implementation of Chiranjeevi Swasthya Bima Yojana in Rajasthan: Benefits and Challenges
...
Original Article
Patient Priorities and Hospital Growth: Analyzing Strategies for Building a Robust Customer Base
...
Loading Image...
Volume 3, Issue 2
Citations
9 Views
7 Downloads
Share this article
© Copyright Advances in Consumer Research