MAPPING THE DIMENSIONS OF NEUROFINANCE: A CONCEPTUAL FRAMEWORK FOR NEURAL, COGNITIVE, EMOTIONAL, AND PERCEPTUAL PROCESSES IN FINANCIAL DECISIONS
Jagriti1, Sujata Kapoor2
1Research Scholar, 2Associate Professor
Jaypee Business School,
Jaypee Institute of Information and Technology, Noida, Uttar Pradesh – 201309, India
AAbstract: Neurofinance, the integration of neuroscience, psychology and financial decision making, has emerged as a novel neural framework which try to explain why investors deviate from the rational behaviour. The implementation of neuro finance continues to face significant challenges, despite the rapid growth and advancement in this field of study. Despite of many bibliometric studies in the field of neurofinance, there is no study which outlays the consolidated dimensional map of this domain of study. This conceptual paper adopts PRISMA framework and compiles the findings of manuscripts retrieved from WoS and Scopus databases by using keywords like “Neurofinance”, “Neuro-finance”, “Neuroscience and Finance”. The purpose of this study is to identify and articulates 7 broad dimensions of neurofinance, each dimension anchored to specific brain region, neural mechanism and empirical evidence. Out of these seven dimensions, 2 dimensions that are, risk perception and color perception are given special emphasis as they are under-explored but practically urgent areas. The paper provides a tabular framework suitable for future empirical research, investor education and regulatory policy design.
Keywords
Behavioural Finance; Brain Regions; Color Perception; Dimensions; EEG; Investor Behaviour; Neurofinance; Neurotransmitters; Risk Perception.
JEL CODE – D87, G41, D91
VOLUME 10 ISSUE 07 2026: 227 – 306