Brain activity predicts crowdfunding outcomes better than self-reports

http://www.pressreleasepoint.com/brain-activity-predicts-crowdfunding-outcomes-better-self-reports

Participants

  • Alexander Genevsky
    Role: Faculty
    Reference type: Referenced

Media outlets

  • Press Release Point (Online)

Description

Surveys and self-reports are a time-honoured way of trying to predict consumer behaviour, but they have limitations. People often give socially desirable answers or they simply don't know or remember things clearly. A new study by Alexander Genevsky of RSM as well as Carolyn Yoon of University of Michigan and Brian Knutson of Stanford University suggests neural activity can not only be a better predictor of individual choices, but also can help forecast aggregate outcomes in the marketplace.

Surveys and self-reports are a time-honoured way of trying to predict consumer behaviour, but they have limitations. People often give socially desirable answers or they simply don't know or remember things clearly. A new study by Alexander Genevsky of RSM as well as Carolyn Yoon of University of Michigan and Brian Knutson of Stanford University suggests neural activity can not only be a better predictor of individual choices, but also can help forecast aggregate outcomes in the marketplace.