Advancing consumer neuroscience
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Advancing consumer neuroscience Ale Smidts & Ming Hsu & Alan G. Sanfey & Maarten A. S. Boksem & Richard B. Ebstein & Scott A. Huettel & Joe W. Kable & Uma R. Karmarkar & Shinobu Kitayama & Brian Knutson & Israel Liberzon & Terry Lohrenz & Mirre Stallen & Carolyn Yoon
# Springer Science+Business Media New York 2014
Abstract In the first decade of consumer neuroscience, strong progress has been made in understanding how neuroscience can inform consumer decision making. Here, we sketch the development of this discipline and compare it to that of the adjacent field of neuroeconomics. We describe three new frontiers for ongoing progress at both theoretical and applied levels. First, the field will broaden its boundaries to include genetics and molecular neuroscience, each of which will provide important new insights into individual differences in decision making. Second, recent advances in computational Electronic supplementary material The online version of this article (doi:10.1007/s11002-014-9306-1) contains supplementary material, which is available to authorized users.
A. Smidts (*) : M. A. S. Boksem Rotterdam School of Management, Erasmus University, Rotterdam, The Netherlands e-mail: [email protected] M. A. S. Boksem e-mail: [email protected] M. Hsu (*) Haas School of Business, University of California, Berkeley, Berkeley, CA, USA e-mail: [email protected]
A. G. Sanfey : M. Stallen Donders Institute for Brain, Cognition and Behaviour, Radboud University Nijmegen, Nijmegen, The Netherlands A. G. Sanfey e-mail: [email protected] M. Stallen e-mail: [email protected] R. B. Ebstein National University of Singapore, Singapore, Singapore e-mail: [email protected] S. A. Huettel Duke University, Durham, NC, USA e-mail: [email protected]
Mark Lett
methods will improve the accuracy and out-of-sample generalizability of predicting decisions from brain activity. Third, sophisticated meta-analyses will help consumer neuroscientists to synthesize the growing body of knowledge, providing evidence for consistency and specificity of brain activations and their reliability as measurements of consumer behavior. Keywords Consumer neuroscience . Neuroeconomics . Social neuroscience . Genes . Machine learning . Meta-analysis
1 Consumer neuroscience: the first decade One of the first papers to discuss the relevance of neuroscience and biology to decision research originated from a workshop on the topic at the Invitational Choice Symposium in 2004 (Shiv et al. 2005). The paper asserted that “knowledge in neuroscience can potentially enrich research on decision-making” (p. 375) and “integrating neuroscience with decision-making offers tremendous potential” (p. 385). Ten years later, significant progress has been made in decision neuroscience (broadly used to include decision-making research in neuroeconomics, consumer neuroscience, and social neuroscience). For example, we have achieved a sophisticated understanding of how the brain computes the value of choice options and compares these values leading t
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