“Expert” But Bad Financial Advice Turns Off Decision-Making in the Brain

Discussion in 'Psychology' started by nitro, Mar 30, 2009.

  1. nitro


  2. Hmnn. So from zero to college everyone could be considered an expert to the student, hence the students defer to the advice.

    On the flip side, the contrarian study indicates people do not heed the advice of experts.

    Brain scans show people do not think in either situation.

    Drumroll.. now for my theory on expert advice.

    Ask friends and relatives "Who is the smartest person you know?"

    If the answer is "Myself". This is a problem.

    If the answer is "Jesus" There is hope.

    If they don't know, tell them it is you.
  3. nitro



  4. When people are given “expert” financial advice, the decision-making parts of the brain shut down,

    What do you suppose an MRI would show if you were exposed to expert opinion? Your bullshit detector would signal red alert.
  5. eagle


    You mean the brains of the pro-Cramer are sleeping. How about the pro-StockTrader's? I think it's the reverse because they need to turn his signal upside down. :D
  6. They tell them in the experiment, the advice is (expert). So they believe that. What if in the experiment they said "This is one opinion"?
  7. nitro


    I think you are grossly overgeneralizing. The title of the article is

    “Expert” But Bad Financial Advice Turns Off Decision-Making in the Brain

    So you are telling me if Ed Witten gave you advice on String Theory, or Albert Einstein gave you advice on General Relativity, your judgment would be that it would be bullshit?

    The point is that the further we get from the hard sciences, the more likely the advice is based on nothing more than opinion, not provable scientific data/facts.
  8. 1) That would be a "sell signal".
    2) That would be a "buy signal". :cool:
  9. Up until the early 1900s, all scientists would have supported Newtonian physics.

    Nowadays a bright 12 year old knows more about physics than Newton, whose theories have been falsified.
  10. nitro


    Oh Gawd,

    Seriously, you guys need to get an education. Or at least supplement it with some reading.
    #10     Mar 30, 2009