The Neuroscience of Consumer Decision-Making

Abstract

While there is an extensive history of neuroscience, only recently has the theory and the methods of this discipline been applied to answer questions about decision making, choice, preference, risk and happiness. This new area of research, coined neuroeconomics, seeks to reveal more about the neural functioning and associated implications for economic and consumer behavior. In this paper are some of the key developments in neuroeconomics research as they relate to consumer decision-making, culminating with a discussion of possible future research areas in marketing where this type of research could be applied with important managerial, policy and academic implications.Consumer behavior; neuroscience; neuroeconomics; decision-making; trust