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Transcranial stimulation over the medial prefrontal cortex increases money illusion

Author

Listed:
  • Li, Jianbiao
  • Wang, Wei
  • Cao, Qian
  • Niu, Xiaofei

Abstract

People often ignore the real value of money and focus on its nominal value, a phenomenon known as money illusion. In the present study, we conduct two transcranial direct current stimulation (tDCS) experiments and test the role of the medial prefrontal cortex (mPFC) in money illusion. We find that anodal stimulation over the mPFC significantly increases money illusion in an evaluative task, and this anodal stimulation effect can be replicated in an incentivized task in the context of financial choices. Our study sheds light on the neural mechanisms underlying the money illusion.

Suggested Citation

  • Li, Jianbiao & Wang, Wei & Cao, Qian & Niu, Xiaofei, 2023. "Transcranial stimulation over the medial prefrontal cortex increases money illusion," Journal of Economic Psychology, Elsevier, vol. 99(C).
    • Handle: RePEc:eee:joepsy:v:99:y:2023:i:c:s0167487023000661
    DOI: 10.1016/j.joep.2023.102665
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