An Empirical Evaluation of Methodologies Used for Emotion Recognition via EEG Signals.

A goal of brain-computer-interface (BCI) research is to accurately classify participants' emotional status via objective measurements. While there has been a growth in EEG-BCI literature tackling this issue, there exist methodological limitations that undermine its ability to reach conclusions. These include both the nature of the stimuli used to induce emotions and the steps used to process and analyze the data. To highlight and overcome these limitations we appraised whether previous literature using commonly used, widely available, datasets is purportedly classifying between emotions based on emotion-related signals of interest and/or non-emotional artifacts. Subsequently, we propose new methods based on empirically driven, scientifically rigorous, foundations. We close by providing guidance to any researcher involved or wanting to work within this dynamic research field.

Do Emotions Benefit Investment Decisions? Anticipatory Emotion and Investment Decisions in Non-professional Investors.

Increasing financial trading performance is big business. A lingering question within academia and industry concerns whether emotions improve or degrade trading performance. In this study, 30 participants distributed hypothetical wealth between a share (a risk) and the bank (paying a small, sure, gain) within four trading games. Skin Conductance Response was measured while playing the games to measure anticipatory emotion, a covert emotion signal that impacts decision-making. Anticipatory emotion was significantly associated with trading performance but the direction of the correlation was dependent upon the share's movement. Thus, anticipatory emotion is neither wholly "good" nor "bad" for trading; instead, the relationship is context-dependent. This is one of the first studies exploring the association between anticipatory emotion and trading behaviour using trading games within an experimentally rigorous environment. Our findings elucidate the relationship between anticipatory emotion and financial decision-making and have applications for improving trading performance in novice and expert traders.

Neural correlates of choice behavior related to impulsivity and venturesomeness.

Impulsivity has been associated with several psychiatric disorders including drug addiction and gambling. Impulsive subjects typically have a preference for short-term over long-term rewards and make risky choices. This study used functional magnetic resonance imaging (fMRI) to investigate the neural correlates of self-rated impulsivity and venturesomeness during tasks involving delayed and risky choice. A broader sampling approach was taken by recruiting participants with behaviors that have been linked to impulsivity (gambling N=15, and recreational drug use N=10) and those without these behaviors (N=9). Selection between delayed or probabilistic rewards was associated with activation in fronto-parietal regions in line with previous research. When selecting between delayed rewards, activity within the pregenual anterior cingulate cortex and ventrolateral prefrontal cortex correlated positively with impulsivity scores while activity within the orbitofrontal cortex, subgenual anterior cingulate cortex and caudate correlated positively with venturesomeness scores. Selection between probabilistic rewards revealed no correlation between scores and regional activations. The results from this study provide targets for future research investigating the neural substrates of impulsivity. They also provide targets for the further investigation into the pathophysiology of addiction and impulse-control disorders.

The effects of real versus hypothetical reward on delay and probability discounting.

Delay discounting and probability discounting tasks providing hypothetical rewards have commonly been used to measure levels of impulsivity and risk taking. Results have been inconsistent as to whether real, compared with hypothetical, rewards influence choice behaviour in delay discounting tasks. This experiment examined choice behaviour in 38 healthy individuals using delay and probability discounting tasks involving both real and hypothetical rewards (pound sterling 0.10/pound sterling 0.20), real delays, and probabilistic outcomes. It was hypothesized that choice behaviour when receiving real rewards would be less impulsive and less risky than when receiving hypothetical rewards. The tasks were designed so that a mathematical model (the multiplicative hyperbolic model of choice) could be applied to assess effects on discounting parameters. The provision of real rewards was associated with significantly decreased impulsive, but not risky, choice although the size of effect was small and was influenced by the order of presentation. Repeated presentation of both tasks increased quantity discounting but not delay or probability discounting parameters. These results indicate that the nature of the reward provided, and repetition effects, need to be taken into account when designing discounting studies.