Tuesday, March 2, 2010

Your money and the herd mentality

Fear operates all the time in the financial markets, Gregory Berns, director of the Emory Center for Neuropolicy, told PBS Nightly Business Report. The herd mentality, or the idea that other people know more than you do, is “extremely potent, extremely hard to resist,” he says.

Berns’ neuroeconomics research includes brain-imaging studies of how other people’s opinions shape an individual’s perception.

Can neuroscience read your mind?
From cattle to cash: Money is on our minds
Financial advice can 'off load' decision process

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