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Neuroeconomics: $1.5 Million to Study “Virtues”

Neuroeconomics: $1.5 Million to Study “Virtues”

Paul Zak, Director of Claremont’s Center for Neuroeconomic Studies, was awarded a $1.5 million grant from the John Templeton Foundation to continue researching, “Oxytocin and the Neurobiology of Human Virtues: Resilience, Generosity, and Compassion.” The grant follows directly from Zak’s previous Templeton Foundation-funded research on the role of values in supporting free-enterprise economies. The results [...]

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Study: Taxes Aren’t Painful

Study: Taxes Aren’t Painful

Often, neuromarketing and neuroeconomic research seems to mostly confirm what we already knew, but a study at the University of Oregon produced results that are counter to what one might expect: rather than activating pain centers in the brain, paying taxes activates reward centers – the same areas of the brain that fire in response [...]

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Neuromarketing Careers

Neuromarketing Careers

I’m contacted periodically by those who think neuromarketing would be an interesting career, and want to get in on the ground floor. At the moment, it’s difficult to steer these individuals (usually college students), because there are no well-defined job descriptions or career paths. Indeed, a quick search of the bazillion jobs listed at Monster.com [...]

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Twenty-somethings More Risk Averse Than Seniors

Twenty-somethings More Risk Averse Than Seniors

New neuroscience research shows that older individuals are less affected by the possibility of losing money than younger people. Gains, meanwhile, are equally attractive to both groups. Gregory Larkin at Stanford University in California, US, and colleagues compared the way the over 65s respond to losing and winning, compared with people aged between 19 and [...]

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Marginal Marketing

Marginal Marketing

The concept of marginal utility, a favorite of economists, is fairly simple to illustrate: a $20 bill is more useful to a financially strapped college student than, say, Bill Gates. Researchers at the University of Cambridge in England have now demonstrated the effects of marginal utility on both brain activation and speed of learning in [...]

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Green Neuromarketing

Green Neuromarketing

My fellow FutureLab blogger, David Widger, wrote an interesting post, How Many Green Marketers Does It Take to Change a Light Bulb? In it he notes that fluorescent bulbs have proven difficult to market, despite today’s lower bulb prices and dramatic energy savings. The big issue is cost. At our closest Home Depot, for example, [...]

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MEG Scanner Use Rising

MEG Scanner Use Rising

[photopress:meg_scanner.jpg,thumb,alignleft]The rising star of brain imaging is magneto-encephalography (MEG). Though the technology is far from new and the device looks like something from a 1950s science fiction movie, improvements in hardware and computing power are spiking interest in the technology for both medical and non-medical research. There are now about 100 MEG scanners in the [...]

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Painful Sushi and Other Pricing Blunders

Painful Sushi and Other Pricing Blunders

What’s the worst way to sell something? According to Carnegie Mellon University economics and psychology professor George Loewenstein (see The Pain of Buying and Brain Scans Predict Buying Behavior), selling products in a way that the consumer sees the price increase with every bit of consumption causes the most “pain”. This isn’t physical pain, of [...]

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The Pain of Buying

The Pain of Buying

We recently reported on important new neuroeconomics research in Brain Scans Predict Buying Behavior. This study is the first that attempts to correlate fMRI brain scan data with actual purchasing behavior. George Loewenstein of Carnegie Mellon University, Brian Knutson at Stanford, and other researchers presented subjects with cash, put them in an fMRI machine to [...]

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Brain Scans Predict Buying Behavior

Brain Scans Predict Buying Behavior

Only a day ago, in our post Neuro-Hype, we lamented the abundance of brain scan hype and the dearth of research that examines real purchase behavior. As if on cue, Carnegie Mellon University released Researchers Use Brain Scans To Predict When People Will Buy. While we haven’t perused the full study details, which appear in [...]

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