Neuroscientific Methods and Tools in Consumer Research

Shaw, Steven D.; Acikalin, M. Yavuz; Shiv, Baba; Yoon, Carolyn

doi:10.4324/9781351137713-16

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“…Prior studies have incorporated neural measures into decision-making models to improve predictions of consumer-related behavior over and beyond the traditional measures. In particular, fMRI is the most commonly used method in academic consumer neuroscience research, followed by EEG (for a comprehensive discussion of neuroscientific methods, see Shaw et al, 2018). Accordingly, the vast majority of the studies dealing with neural preferences and choices reviewed in this chapter use fMRI.…”

Section: Neural Basis Of Decision Makingmentioning

confidence: 99%

Neural basis of consumer decision making and neuroforecasting.

Genevsky¹,

Yoon²

2022

APA Handbook of Consumer Psychology.

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Neuroscience, in recent years, has contributed significantly to a better understanding of how individuals make decisions and how these decisions are influenced by context, states, and individual traits. The past decade has seen the emergence of consumer neuroscience as an academic field of inquiry that applies tools and theories from neuroscience to better understand consumer behavior. These studies have primarily used functional magnetic resonance imaging (fMRI) and electroencephalography (EEG), although the field extends to a wider range of tools, such as facial coding, eye-tracking, heart rate monitoring, and galvanic skin response.Investigating meaningful questions with appropriately designed studies that leverage neuroscientific knowledge has allowed researchers to generate useful insights about consumers from both theoretical and practical perspectives. Plassmann et al. (2015) identified five concrete ways in which consumer neuroscience has been applied to improve understanding of consumer behavior. First, it can be used to validate, refine, or extend existing theories by elucidating the underlying mechanisms. It has also suggested empirically testable hypotheses about preferences, judgments, or choices (e.g., Ho & Spence, 2009;Wadhwa et al., 2008) that accord with an understanding of biology. Second, neuroscience techniques have provided information about implicit processes that are difficult to access using other methods (e.g., Plassmann et al., 2008;Yoon et al., 2006). Third, neural measures have been used to test for dissociations between psychological processes. For example, fMRI has been used in studies to examine the extent to which two different kinds of decisions use similar or different neural mechanisms and thus whether they are likely to use similar or different cognitive processes (e.g., decisions under risk and ambiguity; Hsu et al., 2005;I. Levy et al., 2010). Fourth, fMRI studies have tested whether different individuals perform the same decision task in different ways (e.g., using heuristic vs. deliberative decision strategies; Venkatraman et al., 2009). Fifth and finally, studies have incorporated neural measures into models of choice and decision making to improve predictions. Although all five ways are indeed important ways in which consumer neuroscience can contribute to knowledge about consumers, this chapter focuses primarily on reviewing the research related to neural predictions. We choose to do so, in part, because there are already a number of recently published review articles that have described the advantages of neuroscientific methods and their contributions to consumer research more generally (Karmarkar & Plassmann, 2019;Karmarkar & Yoon, 2016;Plassmann et al., 2015;Smidts et al., 2014). However, the main impetus for the present topic is that it is currently garnering much research interest among academic scholars and practitioners alike for holding the promise of expanding our insights about

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Section: Neural Basis Of Decision Makingmentioning

confidence: 99%