An fMRI-based investigation for financial decision-making from Neurofinance perspective

Motivation: Neurofinance has shown great opportunity for researchers in the field of finance to understand the financial decision-making process at the neurological level. Goal(s): To investigate the decision-making process through fMRI technique using IOWA Gambling task to understand the significance of education (financial management education in this study) for acquiring financial literacy skills for better financial decision making. Approach: fMRI technique is used to identify the brain activation patterns for acquisition of financial literacy skills and further exploring the role of training on learning, memory. Results: We identified areas with association of memory and learning during financial decision-making via IGT task. Impact: Neuroscience provides the foundation for comprehending affective influences on financial decisions. In recent years, neurological, behavioural and cognitive approaches have given economics and finance an impetus and has led to the emergence of the disciplines in Neurofinance and Neuroeconomics.