So, What Exactly Is Neuroeconomics and Why Should I Care?
This video (start around the 3:00 mark) about the burgeoning field of neuroeconomics has implications for how we should think about investing. This video will help answer such questions as:
- Why do our brains often find patterns that don’t exist and how can that impact our investment decisions? Provides good example of the frequency with which we check our stocks/investments impacts our decision-making.
- How can we overcome our brains which encode information in terms of reference points, which may be suboptimal when it comes to investment portfolios?
- When can emotions be useful in decision-making?
- How can we use visualization to slow our decision-making process?
About the Author
Tim's saving habits started at seven when a neighbor with a broken hip gave him a dog walking job. Her recovery, which took almost a year, resulted in Tim getting to know the bank tellers quite well (and accumulating a savings account balance of over $300!). His recent entrepreneurial adventures have included driving a shredding truck, analyzing executive compensation packages for Fortune 500 companies and helping families make better college financing decisions. After volunteering in 2010 to create and teach a personal finance program at Eastside College Prep in East Palo Alto, Tim saw firsthand the impact of an engaging and activity-based curriculum, which inspired him to start a new non-profit, Next Gen Personal Finance.