The objective of the Centre is to engage in knowledge creation, foster cross-disciplinary collaboration, and promote meaningful industry-academia partnerships.
To educate, research, and highlight practices on a range of topics related to business issues in financial markets and financial services, that would be an insightful tool to aid decision-making for policymakers, individual retail investors, fund managers, traders, analysts, wealth advisors, and other stakeholders.
The centre provides a fertile environment for interdisciplinary collaboration aimed at understanding behavior and cognition in the subjects of behavioral finance, behavioral economics, neuromarketing, OB, and HR.
The Behavioral Science Laboratory is designed to explore the applicability of behavioral science theories in marketing, finance, and economics. The lab undertakes empirical research, which in turn enables investigators to produce meaningful decision-making insights not only for industries but also to help shape better policies and improve services. Research is carried out in state-of-the-art laboratories.
The Centres Lab is equipped with a 32-channel wireless EEG system from Brain Products. The LiveAmp amplifier of Brain Products' system is light and wearable and stores data internally. The wireless trigger set is a fully mobile solution for sending triggers and setting event markers, which helps during data analysis. As the system is wireless, it allows for more mobility and can be used to collect data across more realistic scenarios.
Electroencephalography (EEG) is one such approach by which one can monitor the electrical activity in the brain. It is a non-invasive methodology, where electrodes are placed on the scalp to record cortical activity with high temporal resolution. EEG has been used across the fields of marketing to understand consumer behavior, in finance to examine the differential effects of factors like risk and emotion while making financial decisions, and in economics to experimentally examine concepts of behavioral economics.
The centre is equipped with both screen-based and wearable eye trackers from Tobii Pro. The first set is the "Tobii Pro Fusion," a screen-based eye tracker with sampling frequencies up to 250 Hz. The Tobii Pro Fusion's two custom cameras aid in binocular eye tracking of pupil and corneal reflections of the eyes in various lighting modes. This technology helps capture accurate and robust data for the individual’s eye gaze and point calibration which helps in faster data collection. The data from both eye trackers can be swiftly and comprehensively analyzed using software.
Eye tracking data is insightful in understanding the attention and engagement of an individual in real time while one interacts with a stimulus. Results from the gaze plots and fixation durations can help assess which elements the audience engages with and which ones they ignore. Recent research examines the behavioral biases of investors and traders by tracking their eye gaze trajectory.
The lab has four high-end workstations, each equipped with E-Prime 3.0 software aiding in psychophysical and behavioral experiments. The latest E-Prime software allows both new and advanced users to collect behavioral responses such as reaction times (RTs) and accuracy data with precise timings. A variety of stimuli, including text, images, videos, and audio files, can be presented in the experiment.
Chronos, a multifunctional stimuli and response device, is also available at the center. The device allows for accurate recording of key presses and releases. This, combined with E-Prime, makes for a thorough data collection setup.
Podcast Series by the NSE Centre for Behavioral Science, IIM Ahmedabad
Join the engaging podcast series by NSE Centre for Behavioral Science and listen to the esteemed IIMA faculty open up the latest debates, trends and applications that are to behavioral science in the field of management. Fresh upload every fortnight!
Prof Arvind Sahay (Marketing area, IIMA) talks about the latest trends and applications of behavioral science in the field of marketing. Listen to him share his insights and discuss intriguing case studies.
Prof Jeevant Rampal Economics area, IIMA talks about the latest trends and applications of behavioral science in the field of economics. Listen to him share insights from his research and discuss the future of behavioral economics.
Prof Jayanth Varma, Finance and Accounting area, IIMA talks about the latest trends and applications of behavioral science in the field of Finance. Listen to him share his insights on the financial markets and discuss the emerging phenomenon of 'rational irrationality.
Prof Aditya Moses, Human Resource Management area, IIMA talks about the latest trends and applications of behavioral science in the field of HRM. Listen to him share his insights about practices in organizations and discuss the growing role of technology.
Faculty Media Interviews