A few years ago, Forbes drew considerable attention to the field of neuromarketing with their landmark article, In Search of the Buy Button – now one of our “neuromarketing classics”. An article published earlier this year, This Is Your Brain On Money, isn’t quite as extensive, but is still an indication of the continued interest in business applications of neuroscience research. The article quotes George Loewenstein, an economist at Carnegie Mellon University:
It helps explain why people have such bizarre attitudes toward money… According to standard economic theory, money is a means to an end. When you get money, you shouldn’t experience immediate happiness. What all the scanning research is showing is that people get immediate pleasure and pain from obtaining and losing money.
If you missed the article back in February, it’s worth a quick scan – if only to see what the general business population is reading about neuroeconomics.