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An ALE Meta-Analysis on Investment Decision-Making

1
Facultad de Ciencias Jurídicas y Sociales, Universidad Rey Juan Carlos, 28032 Madrid, Spain
2
Gordon Center for Medical Imaging, Department of Radiology, Massachusetts General Hospital, Harvard Medical School, Boston, MA 02115, USA
3
Departamento de Economía de la Empresa, Facultad de Ciencias Jurídicas y Sociales, Universidad Rey Juan Carlos, 28032 Madrid, Spain
*
Author to whom correspondence should be addressed.
Academic Editor: Luigi De Gennaro
Brain Sci. 2021, 11(3), 399; https://doi.org/10.3390/brainsci11030399
Received: 20 February 2021 / Revised: 17 March 2021 / Accepted: 18 March 2021 / Published: 21 March 2021
(This article belongs to the Special Issue Advances in Neuroeconomics)
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. View Full-Text
Keywords: neuroeconomics; investor; stock; reward; risk; ventral striatum; anterior insula; amygdala; anterior cingulate cortex neuroeconomics; investor; stock; reward; risk; ventral striatum; anterior insula; amygdala; anterior cingulate cortex
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MDPI and ACS Style

Ortiz-Teran, E.; Diez, I.; Lopez-Pascual, J. An ALE Meta-Analysis on Investment Decision-Making. Brain Sci. 2021, 11, 399. https://doi.org/10.3390/brainsci11030399

AMA Style

Ortiz-Teran E, Diez I, Lopez-Pascual J. An ALE Meta-Analysis on Investment Decision-Making. Brain Sciences. 2021; 11(3):399. https://doi.org/10.3390/brainsci11030399

Chicago/Turabian Style

Ortiz-Teran, Elena, Ibai Diez, and Joaquin Lopez-Pascual. 2021. "An ALE Meta-Analysis on Investment Decision-Making" Brain Sciences 11, no. 3: 399. https://doi.org/10.3390/brainsci11030399

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