Electroencephalographic Activity Associated to Investment Decisions: Gender Differences

Armando F. Rocha; João Paulo Vieito; Eduardo Massad; Fábio T. Rocha; Roberto Ivo Lima

doi:10.4236/jbbs.2015.56021

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JBBS> Vol.5 No.6, June 2015

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Electroencephalographic Activity Associated to Investment Decisions: Gender Differences

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DOI: 10.4236/jbbs.2015.56021 3,213 Downloads 3,738 Views Citations

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Armando F. Rocha¹, João Paulo Vieito², Eduardo Massad³, Fábio T. Rocha¹, Roberto Ivo Lima¹

Affiliation(s)

¹RANI, Jundiai, Brazil.
²School of Business Studies, Polytechnic Institute, Viana do Castelo, Portugal.
³Medical School, São Paulo University, São Paulo, Brazil.

ABSTRACT

Literature in finance and neurosciences shows that male and female differ in many relevant issues concerning financial decision investment. Here, we studied the EEG activity recorded while volunteers were playing a stock trading game to investigate these gender differences. 20 males and 20 females made 100 trading decisions using a portfolio of 200 shares of 7 different companies. Males and females were equally successful in earning above the market. sLORETA was used to identify sources of EEG recorded 2 seconds before trading decision. Results showed that male and female used different sets of neuron to make equally successful financial decisions.

KEYWORDS

Neurofinance, EEG, Stock Investment, Brain Activation, Loreta, Decision Making

Conflicts of Interest

The authors declare no conflicts of interest.

Cite this paper

Rocha, A. , Vieito, J. , Massad, E. , Rocha, F. and Lima, R. (2015) Electroencephalographic Activity Associated to Investment Decisions: Gender Differences. Journal of Behavioral and Brain Science, 5, 203-211. doi: 10.4236/jbbs.2015.56021.

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