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Neurometrics applied to banknote and security features design

Author

Listed:
  • Rubén Ortuño

    (Banco de España)

  • José M. Sánchez

    (Banco de España)

  • Diego Álvarez

    (Banco de España)

  • Miguel López

    (Banco de España)

  • Fernando León

    (Banco de España)

Abstract

The aim of this paper is to present a methodology on the application of neuroanalysis to the design of banknotes and security features. Traditionally, evaluation of the perception of banknotes is based on explicit personal responses obtained through questionnaires and interviews. The implicit measures refer to methods and techniques capable of capturing people's implicit mental processes. Neuroscience has shown that, in most brain processes regulating emotions, attitudes, behaviours and decisions, human consciousness does not intervene. That is to say, these implicit processes are brain functions that occur automatically and without conscious control. The methodology on neuroanalysis can be applied to the design of banknotes and security features, and used as an effective analysis tool to assess people's cognitive processes, namely: visual interest, attention to certain areas of the banknote, emotions, motivation and the mental load to understand the design and level of stimulation. The proposed neuroanalysis methodology offers a criterion for making decisions about which banknote designs and security features have a more suitable configuration for the public. It is based on the monitoring of conscious processes, using traditional explicit measures, and unconscious processes, using neurometric techniques. The neuroanalysis methodology processes quantifiable neurometric variables obtained from the public when processing events, such as eye movement, sight fixation, facial expression, heart rate variation, skin conductance, etc. A neuroanalysis study is performed with a selected group of people representative of the population for which the design of a banknote or security features is made. In the neurometric study, suitably prepared physical samples are shown to the participants to collect their different neurometric responses, which are then processed to draw conclusions.

Suggested Citation

  • Rubén Ortuño & José M. Sánchez & Diego Álvarez & Miguel López & Fernando León, 2020. "Neurometrics applied to banknote and security features design," Occasional Papers 2008, Banco de España.
  • Handle: RePEc:bde:opaper:2008
    as

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    References listed on IDEAS

    as
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    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    neuroscience; eye tracking; biometrics; neurometrics; banknotes; neurodesign; security feature; perception; human behaviour;
    All these keywords.

    JEL classification:

    • C13 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Estimation: General
    • D87 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Neuroeconomics
    • E42 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Monetary Sytsems; Standards; Regimes; Government and the Monetary System

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