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CNNW Your Bottom Line July 16, 2011

the odds of you standing there with the big check are just north of zero. so, why do we buy a ticket? are you ready. scott hotel is part of duke university s neuroeconomics team, exploring among other things why smart people make foolish decisions with their money. people don t buy a lottery ticket just because they have a chance of winning. they will buy a ticket because over the next couple days it allows them to fantasize what they would do if they won the lottery. in a sense they re paying for that experience rather than a chance for the lottery itself. it s not just the lottery. nathan zweig know is firsthand and put his brain to the test with scott s team at duke. it s a combination of neuroscience and economics basically using the tools of scanning and other measurement technology that neuroscientists have used for years to study how the human brain evaluates risk and reward over time, which is what investing is all about. reporter: from investing t ....

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Detailed text transcripts for TV channel - CNN - 20110430:13:44:00

Scanner. not just the picture of the brain, it s the picture of the brain you re taking and what you re finding in the saliva, hormones and other things taking an entire picture of what somebody is doing financially with the risk and reward. that s right. really the thing that we re growing to understand in these interdisciplinary fields where you re combining the field of neuro science and behavioral economics is that our decisions are influenced at multiple levels. we can try to study behavior by itself, try it study the brain by itself but the more you account of both aspects of behavior and physiology and neuroscience i think that s going to let us completely understand our behavior. it s really interesting stuff. jason, given what we know about hormones, brain makeup and emotions, what s the number up with mistake investors make? we buy high and sell low, do it all the time. it s performance chasing. it s investing as if you were driving a car only by looking through the r ....

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