Brain-computer interface to predict impulse buying behavior using functional near-infrared spectroscopy

Impulse buying behavior during livestreaming: Moderating effects of scarcity persuasion and price perception

This research aimed to identify the factors that influence impulse buying behavior during livestreaming and advance the existing literature based on a proposed conceptual framework grounded in the stimulus-organism-response (S-O-R) model. We also tested the moderating effects of price perception and scarcity persuasion. An online self-administered questionnaire was used to collect data from 837 Chinese participants aged over 18 years. The data were analyzed using partial least squares structural equation modeling using Smart-PLS version 4.0. The findings showed that susceptibility to social influence, impulse buying tendency, cognitive reactions, affective reactions, and the urge to buy impulsively are statistically significant predictors of impulse buying during livestreaming, with price perception and scarcity persuasion as moderators. The study expands the S-O-R model for livestreaming impulse buying in e-commerce context, highlighting its multifaceted nature and revealing the mediating role of Urge to Buy Impulsively in translating cognitive and emotional factors into impulse buying behavior. These insights offer practical guidance for marketers to design tailored strategies that leverage psychological triggers and external cues to enhance consumer engagement and encourage desired behaviors, ultimately leading to more effective marketing campaigns and improved consumer experiences.

Unlocking the neural mechanisms of consumer loan evaluations: an fNIRS and ML-based consumer neuroscience study

Introduction

This study conducts a comprehensive exploration of the neurocognitive processes underlying consumer credit decision-making using cutting-edge techniques from neuroscience and machine learning (ML). Employing functional Near-Infrared Spectroscopy (fNIRS), the research examines the hemodynamic responses of participants while evaluating diverse credit offers.

Methods

The experimental phase of this study investigates the hemodynamic responses collected from 39 healthy participants with respect to different loan offers. This study integrates fNIRS data with advanced ML algorithms, specifically Extreme Gradient Boosting, CatBoost, Extra Tree Classifier, and Light Gradient Boosted Machine, to predict participants' credit decisions based on prefrontal cortex (PFC) activation patterns.

Results

Findings reveal distinctive PFC regions correlating with credit behaviors, including the dorsolateral prefrontal cortex (dlPFC) associated with strategic decision-making, the orbitofrontal cortex (OFC) linked to emotional valuations, and the ventromedial prefrontal cortex (vmPFC) reflecting brand integration and reward processing. Notably, the right dorsomedial prefrontal cortex (dmPFC) and the right vmPFC contribute to positive credit preferences.

Discussion

This interdisciplinary approach bridges neuroscience, machine learning and finance, offering unprecedented insights into the neural mechanisms guiding financial choices regarding different loan offers. The study's predictive model holds promise for refining financial services and illuminating human financial behavior within the burgeoning field of neurofinance. The work exemplifies the potential of interdisciplinary research to enhance our understanding of human financial decision-making.

Motivation in the metaverse: A dual-process approach to consumer choices in a virtual reality supermarket

Introduction

Consumer decision-making processes involve a complex interrelation between perception, emotion, and cognition. Despite a vast and diverse literature, little effort has been invested in investigating the neural mechanism behind such processes.

Methods

In the present work, our interest was to investigate whether asymmetrical activation of the frontal lobe of the brain could help to characterize consumer's choices. To obtain stronger experimental control, we devised an experiment in a virtual reality retail store, while simultaneously recording participant brain responses using electroencephalogram (EEG). During the virtual store test, participants completed two tasks; first, to choose items from a predefined shopping list, a phase we termed as "planned purchase". Second, subjects were instructed that they could also choose products that were not on the list, which we labeled as "unplanned purchase." We assumed that the planned purchases were associated with a stronger cognitive engagement, and the second task was more reliant on immediate emotional responses.

Results

By analyzing the EEG data based on frontal asymmetry measures, we find that frontal asymmetry in the gamma band reflected the distinction between planned and unplanned decisions, where unplanned purchases were accompanied by stronger asymmetry deflections (relative frontal left activity was higher). In addition, frontal asymmetry in the alpha, beta, and gamma ranges illustrate clear differences between choices and no-choices periods during the shopping tasks.

Discussion

These results are discussed in light of the distinction between planned and unplanned purchase in consumer situations, how this is reflected in the relative cognitive and emotional brain responses, and more generally how this can influence research in the emerging area of virtual and augmented shopping.