Charitable Estate Planning as Visualized Autobiography: An fMRI Study of its Neural Correlates
1 Pages Posted: 9 Feb 2012 Last revised: 25 Dec 2012
Date Written: February 6, 2012
Abstract
This first ever functional magnetic resonance imaging (fMRI) analysis of charitable bequest decision-making found increased activation in the precuneus and lingual gyrus of the brain compared to charitable giving and volunteering decisions. Greater lingual gyrus activation was also associated with increased propensity to make a charitable bequest. Previous studies have shown that activation of these brain regions is related to taking an outside perspective of one’s self, recalling the recent death of a loved one, and recalling vivid autobiographical memories across one’s life. We propose that bequest decision-making is analogous to visualizing the final chapter in one’s autobiography and that fundraisers may do well to emphasize donors’ autobiographical connections with the charity. Due to inherent mortality salience, people may resist creating this final chapter, but once engaged may seek to leave an enduring legacy.
Keywords: neuroeconomics, fmri, bequest, charitable, charitable giving, charitable bequest, estate planning
JEL Classification: D12
Suggested Citation: Suggested Citation
Do you have negative results from your research you’d like to share?
Recommended Papers
-
Underwater and Not Walking Away: Shame, Fear and the Social Management of the Housing Crisis
-
Choice of Mortgage Contracts: Evidence from the Survey of Consumer Finances
By Brahima Coulibaly and Geng Li
-
The General Equilibrium Effects of Inflation on Housing Consumption and Investment
By James A. Berkovec and Don Fullerton
-
Mimetic Herding Behavior and the Decision to Strategically Default
By Michael Seiler, Mark Lane, ...
-
National Foreclosure Mitigation Counseling Program Evaluation: Final Report Rounds 1 and 2
By Neil S. Mayer, Peter A. Tatian, ...
-
Hyperbolic Discounting, Reference Dependence and Its Implications for the Housing Market
By Hua Sun and Michael Seiler