Hi everyone,
I'm conducting a research study as part of my BSc in Management at ESCP Business School. I'm investigating how psychological and physiological states, specifically stress and reward sensitivity, influence investment decision-making among retail investors. You can participate here i takes 5–10 minutes
https://forms.gle/5a5PDXccAzhsWSBo8
Who should take this survey?
- You actively invest (at least once per month)
- You're 18 or older
- You're willing to answer questions about your investment behavior and emotions
What is this research about?
Recent neuroscience research shows that two key brain systems drive financial decision-making:
- The stress response (HPA axis / cortisol) linked to panic selling and loss aversion
- The reward system (dopamine), linked to FOMO, chasing gains, and euphoria-driven decisions
I'm studying how these physiological states interact with market conditions to produce herding behavior. In particular, I'm testing whether:
- Stressed investors are more likely to sell together (panic herding) during downturns
- Reward-sensitive investors are more likely to buy together (FOMO herding) during rallies
Data privacy:
- All responses are anonymous and confidential
- No personally identifiable information is collected
- Data is used exclusively for academic research
Thank you for your participation! If you have questions, feel free to ask in the comments.