Nörofinansta Anksiyeteyi Yeniden Düşünmek: Diyalektik Bir Çerçeve

Abstract

Bu makale, anksiyeteyi nörofinansta yalnızca bir yanlılık ya da patoloji kaynağı olarak değil, belirsizlik altında finansal yargıyı destekleyebilen düzenleyici bir sinyal olarak ele alarak yeniden değerlendirmektedir. Psikanalitik teori, duygulanımsal sinirbilim, bilişsel psikoloji ve davranışsal finanstan hareketle çalışma; anksiyete, tehdit beklentisi, kayıp işleme, muğlaklık, ödül–ceza öğrenmesi, dikkat ve dürtü kontrolü üzerine literatürü seçici ve yapılandırılmış bir anlatı incelemesi yoluyla sentezlemektedir. Çalışmanın çıkış noktası, Freud’un anksiyeteyi bir tehlike sinyali olarak kavramsallaştırmasıdır; bu kavrayış, amigdala–prefrontal düzenleme, otonom uyarılma, teyakkuz ve risk ile belirsizlik altında karar verme üzerine çağdaş bulgularla genişletilmektedir. Makalenin temel argümanı, anksiyetenin diyalektik bir yapıya sahip olduğudur. Orantılı ve düzenlenmiş olduğunda anksiyete; dikkat, erken kayıp tespitini, ihtiyatlı risk değerlendirmesini, eylemi erteleyebilme kapasitesini ve disiplinli portföy takibini güçlendirebilir. Aşırı etkinleştiğinde ise aynı sinyal; tehdide saplanma, bilişsel daralma, kayıplardan asimetrik öğrenme, aşırı likidite tercihi, panik satış ve tepkisel karar verme biçimleri üretebilir. Bu nedenle makale, anksiyetenin adaptif düzenleme ile maladaptif düzensizleşme arasında işlediği gerilim-temelli bir çerçeve önermektedir. Bu çerçeve, anksiyeteyi ne yalnızca klinik bir bozukluğa ne de basit bir bilişsel yanlılığa indirger; bireysel duygulanımsal kalibrasyon ile daha geniş finansal davranış örüntüleri arasında bağlantı kurar. Makale, anksiyetenin finansal karar alma süreçlerinde hem istikrar sağlayıcı hem de istikrarsızlaştırıcı bir güç olarak nasıl işleyebileceğini göstererek nörofinans literatürüne katkı sunmaktadır.

Keywords

• Nörofinans
• Anksiyete
• Karar verme
• Belirsizlik
• Biliş

Supporting Institution

Bu çalışma herhangi bir kurum, kuruluş veya fon tarafından desteklenmemiştir. Araştırmanın tüm süreçleri yazar tarafından bağımsız olarak yürütülmüştür.

Ethical Statement

Bu çalışmada bilimsel araştırma ve yayın etiğine uyulmuştur. Araştırma sürecinde herhangi bir etik ihlalde bulunulmamış, çalışma tamamen özgün biçimde tarafımca hazırlanmıştır. İnsan veya hayvan denek gerektiren bir araştırma olmadığı için etik kurul onayı gerekmemektedir.

Rethinking Anxiety in Neurofinance: A Dialectical Framework

Abstract

The article reconsiders anxiety in neurofinance by treating it not only as a source of bias or pathology but also as a regulatory signal that may support financial judgment under uncertainty. Drawing on psychoanalytic theory, affective neuroscience, cognitive psychology, and behavioral finance, the study develops a selective and structured narrative review of the literature on anxiety, threat anticipation, loss processing, ambiguity, reward–punishment learning, attention, and impulse control. Its starting point is Freud’s concept of anxiety as a danger signal, which is extended through contemporary evidence on amygdala–prefrontal regulation, autonomic arousal, vigilance, and decision-making under risk and ambiguity. The central argument is that anxiety has a dialectical structure. When proportionate and regulated, it may enhance vigilance, early loss detection, cautious risk evaluation, delayed action, and disciplined portfolio monitoring. When overactivated, the same signal may produce threat fixation, cognitive narrowing, asymmetrical learning from losses, excessive liquidity preference, panic selling, and reactive decision-making. The article therefore proposes a tension-based framework in which anxiety operates between adaptive regulation and maladaptive dysregulation. This framework connects individual affective calibration to broader financial behavior without reducing anxiety to either a clinical disorder or a simple cognitive bias. The article contributes to neurofinance by showing how anxiety may function as both a stabilizing and destabilizing force in financial decision-making.

Keywords

• Neurofinance
• Anxiety
• Decision-making
• Ambiguity
• Cognition

Supporting Institution

This study received no financial support from any institution, organization, or funding body. All stages of the research were conducted independently by the author.

Ethical Statement

This study adheres to the principles of scientific research and publication ethics. No ethical misconduct was involved in the research process, and the work was prepared entirely by the author. As the study does not involve human or animal subjects, ethical committee approval was not required.

References

1. 1. Shammassian BH, DiGiorgio A, Manley G. Systems of Neurotrauma HealthCare. Neurosurg Clin N Am. 2025 Jul;36(3):459-465. Doi: 10.1016/j.nec.2025.03.015. PMID: 40543954.
2. 2. Shammassian BH, Wooster L, Wright JM, Kelly ML. Systematic review of trauma system regionalization and implementation on outcomes in traumatic brain injury patients. Neurol Res. 2021 Feb;43(2):87-96. Doi: 10.1080/01616412.2020.1824391. Epub 2020 Sep 24. PMID: 32967585
3. 3. Pitts LH. Neurotrauma and trauma systems. New Horiz. 1995 Aug;3(3):546-8. PMID: 7496766.
4. 4. The Brain Trauma Foundation. The American Association of Neurological Surgeons. The Joint Section on Neurotrauma and Critical Care. Trauma systems. J Neurotrauma. 2000 Jun-Jul;17(6- 7):457-62. Doi: 10.1089/neu.2000.17.457. PMID: 10937887.
5. 5. Trauma systems and the neurosurgeon. Brain Trauma Foundation. J Neurotrauma. 1996 Nov;13(11):647-51. Doi: 10.1089/neu.1996.13.647. PMID: 8941881.
6. 6. Kelly ML, Banerjee A, Nowak M, Steinmetz M, Claridge JA. Decreased mortality in traumatic brain injury following regionalization across hospital systems. J Trauma Acute Care Surg. 2015 Apr;78(4):715-20. Doi: 10.1097/TA.0000000000000590. PMID: 25807401.
7. 7. Kelly ML, Roach MJ, Banerjee A, Steinmetz MP, Claridge JA. Functional and long-term outcomes in severe traumatic brain injury following regionalization of a trauma system. J Trauma Acute Care Surg. 2015 Sep;79(3):372-7. Doi: 10.1097/TA.0000000000000762. PMID: 26307868.
8. 8. Härtl R, Gerber LM, Iacono L, Ni Q, Lyons K, Ghajar J. Direct transport within an organized state trauma system reduces mortality in patients with severe traumatic brain injury. J Trauma. 2006 Jun;60(6):1250-6; discussion 1256. Doi: 10.1097/01.ta.0000203717.57821.8d. PMID: 16766968.

9. 9. Sewalt CA, Gravesteijn BY, Menon D, Lingsma HF, Maas AIR, Stocchetti N, Venema E, Lecky FE; CENTER TBI Participants and Investigators. Primary versus early secondary referral to a specialized neurotrauma center in patients with moderate/severe traumatic brain injury: a CENTER TBI study. Scand J Trauma Resusc Emerg Med. 2021 Aug 4;29(1):113. Doi: 10.1186/s13049-021-00930-1. PMID: 34348784; PMCID: PMC8340517.
10. 10. Fuller G, Pallot D, Coats T, Lecky F. The effectiveness of specialist neuroscience care in severe traumatic brain injury: a systematic review. Br J Neurosurg. 2014 Aug;28(4):452-60. Doi: 10.3109/02688697.2013.865708. Epub 2013 Dec 9. PMID: 24313333.
11. 11. Coburn W, Trottier Z, Villarreal RI, Paulson MW, Woodard SC, McKay JT, Bebarta VS, Flarity K, Keenan S, Schauer SG. Prehospital Pharmacotherapy in Moderate and Severe Traumatic Brain Injury: A Systematic Review. Med J (Ft Sam Houst Tex). 2023 Jan-Mar;(Per 23- 1/2/3):47-56. PMID: 36607298.
12. 12. Brown JB, Schreiber M, Moore EE, Jenkins DH, Bank EA, Gurney JM. Commentary on gaps in prehospital trauma care: education and bioengineering innovations to improve outcomes in hemorrhage and traumatic brain injury. Trauma Surg Acute Care Open. 2024 Jan 5;9(Suppl 1):e001122. Doi: 10.1136/tsaco-2023-001122. PMID: 38196935; PMCID: PMC10773423.
13. 13. Pélieu I, Kull C, Walder B. Prehospital and Emergency Care in Adult Patients with Acute Traumatic Brain Injury. Med Sci (Basel). 2019 Jan 21;7(1):12. Doi: 10.3390/medsci7010012. PMID: 30669658; PMCID: PMC6359668.
14. 14. Tazarourte K, Cesaréo E, Sapir D, Atchabahian A, Tourtier JP, Briole N, Vigué B. Update on prehospital emergency care of severe trauma patients. Ann Fr Anesth Reanim. 2013 JulAug;32(7-8):477-82. Doi: 10.1016/j.annfar.2013.07.005. Epub 2013 Jul 31. PMID: 23916517.
15. 15. Rubiano AM, Puyana JC, Mock CN, Bullock MR, Adelson PD. Strengthening neurotrauma care systems in low and middle income countries. Brain Inj. 2013;27(3):262-72. Doi: 10.3109/02699052.2012.750742. PMID: 23438347.
16. 16. Shrestha GS, Goffi A, Aryal D. Delivering neurocritical care in resource-challenged environments. Curr Opin Crit Care. 2016 Apr;22(2):100-5. Doi: 10.1097/MCC.0000000000000285. PMID: 26828423.
17. 17. Kesinger MR, Nagy LR, Sequeira DJ, Charry JD, Puyana JC, Rubiano AM. A standardized trauma care protocol decreased in-hospital mortality of patients with severe traumatic brain injury at a teaching hospital in a middle-income country. Injury. 2014 Sep;45(9):1350-4. Doi: 10.1016/j.injury.2014.04.037. Epub 2014 Apr 28. PMID: 24861416.
18. 18. Lepard J, Ammar A, Shlobin NA, Boyke AE, Berger C, Vital A, Rolle M, Corley J, Barthélemy EJ, Park KB. An Assessment of Global Neurotrauma Prevention and Care Delivery: The Provider Perspective. World Neurosurg. 2021 Dec;156:e183-e191. Doi: 10.1016/j.wneu.2021.09.025. Epub 2021 Sep 21. PMID: 34560295
19. 19. Ghajar J. Traumatic brain injury. Lancet. 2000 Sep 9;356(9233):923-9. Doi: 10.1016/S0140- 6736(00)02689-1. PMID: 11036909.
20. 20. Fakhry SM, Shen Y, Garland JM, Wilson NY, Wyse RJ, Morse JL, Hunt DL, Acuna D, Dunne J, Kurek SJ, Gordy SD, Watts DD. The burden of geriatric traumatic brain injury on trauma systems: Analysis of 348,800 Medicare inpatient claims. J Am Geriatr Soc. 2023 Feb;71(2):516- 527. Doi: 10.1111/jgs.18114. Epub 2022 Nov 4. PMID: 36330687.
21. 21. Zhang Q, Tang D, Chen T, Ai Y, Chen Z, Liu G, Liu J, Chen X, Liu J, Xia Y. Global, regional, and national burden of transport-related moderate/severe traumatic brain injury, 1992-2021: a cross-sectional time-trend analysis of GBD 2021. Int J Surg. 2026 Feb 1;112(2):2360-2373. Doi: 10.1097/JS9.0000000000003693. Epub 2025 Oct 16. PMID: 41092434.
22. 22. Gilmartin S, Brent L, Hanrahan M, Dunphy M, Deasy C. A retrospective review of patients who sustained traumatic brain injury in Ireland 2014-2019. Injury. 2022 Nov;53(11):3680-3691. Doi: 10.1016/j.injury.2022.09.013. Epub 2022 Sep 13. PMID: 36167689.
23. 23. Prabhakar H, Lele AV, Kapoor I, Mahajan C, Shrestha GS, Rao CV, Suarez JI, Livesay SL, Shafiq F, Popugaev K, Santosa D, Zada ON, Yang W, Nisha HA, Mijangos-Mendez JC, Agaba PK, Portilla JLP, Tuahir YH, Shanmugam P, Arruebarrena YP, Videtta W, Vásquez-García S, Raheem MSA, Yimer F, Padayachy LC, Naranjo LS, Arriaga P, Myei C, Matuja SS, Fadalla T, Viarasilpa T, Lundeg G, Salisu-Kabara HM, Tsan SEH, Gutierrez SP, Yankae LP, Konkayev A, Chaikittisilpa N, Sampaio G, Van Bui T, Mariano GSL, Sabillon GA, Blanco P, Ortiz W, Gallardo AJL, Arun O, Mani K. Neurocritical Care Organization in the Low-Income and Middle-Income Countries. Neurocrit Care. 2025 Aug;43(1):141-156. Doi: 10.1007/s12028- 025-02210-7. Epub 2025 Feb 7. PMID: 39920547.
24. 24. Kahveci K, Dinçer M, Doger C, Yaricı AK. Traumatic brain injury and palliative care: a retrospective analysis of 49 patients receiving palliative care during 2013-2016 in Turkey. Neural Regen Res. 2017 Jan;12(1):77-83. Doi: 10.4103/1673-5374.198987. PMID: 28250751; PMCID: PMC5319246.
25. 25. Aslan N, Yıldızdaş D. Severe Pediatric Traumatic Brain Injury Treatment Approaches of Pediatric Intensivists in Turkey PICUs: National Survey Results. Turk Arch Pediatr. 2022 Jul;57(4):421-427. Doi: 10.5152/TurkArchPediatr.2022.21247. PMID: 35822474; PMCID: PMC9318421.
26. 26. Bozkurt I, Umana GE, Deora H, Wellington J, Karakoc E, Chaurasia B. Factors Affecting Neurosurgeons’ Decisions to Forgo Life-Sustaining Treatments After Traumatic Brain Injury. World Neurosurg. 2022 Mar;159:e311-e323. Doi: 10.1016/j.wneu.2021.12.056. Epub 2021 Dec 18. PMID: 34933149.
27. 27. Irdesel J, Aydiner SB, Akgoz S. Rehabilitation outcome after traumatic brain injury. Neurocirugia (Astur). 2007 Feb;18(1):5-15. Doi: 10.1016/s1130-1473(07)70303-2. PMID: 17393041.
28. 28. Süt N, Memiş D. Intensive care cost and survival analyses of traumatic brain injury. Ulus Travma Acil Cerrahi Derg. 2010 Mar;16(2):149-54. PMID: 20517770.
29. 29. Kilinc S, Aydogan MS, Duran M, Yucetas CS. Incidence, microbiology, and clinical impact of ventilator-associated pneumonia in traumatic brain injury: a single-center retrospective study. Brain Inj. 2026 May;40(7):614-618. Doi: 10.1080/02699052.2026.2638955. Epub 2026 Mar 2. PMID: 41771661
30. 30. Safaz I, Alaca R, Yasar E, Tok F, Yilmaz B. Medical complications, physical function and communication skills in patients with traumatic brain injury: a single centre 5-year experience. Brain Inj. 2008 Sep;22(10):733-9. Doi: 10.1080/02699050802304714. PMID: 18720099.
31. 31. Aras Y, Sabanci PA, Unal TC, Aydoseli A, Izgi N. Epidemiologic study in hospitalized patients with head injuries. Eur J Trauma Emerg Surg. 2017 Aug;43(4):467-473. Doi: 10.1007/s00068- 016-0668-3. Epub 2016 Apr 9. PMID: 27062402.
32. 32. Ozyurt E, Goksu E, Cengiz M, Yilmaz M, Ramazanoglu A. Retrospective Analysis of Prognostic Factors of Severe Traumatic Brain Injury in a University Hospital in Turkey. Turk Neurosurg. 2015;25(6):877-82. Doi: 10.5137/1019-5149.JTN.9181-13.0. PMID: 26617136.
33. 33. Shrestha GS, Prabhakar H, Mahajan C, Kapoor I, Livesay SL, Rajajee V, Zirpe K, Videtta W, Hossain S, Silva GS, Rubiano AM, Raheem MSA, Pina Y, Wanchoo J, Shukla U, Tripathy S, Singhal V, Margaretha RE, Tsan S, Yimer FT, Lamsal R, Salisu-Kabara H, Pinedo JL, Soliven JAR, Popugaev K, Padayachy LC, Shanmugam P, Viarasilpa T, Arun O, Van Bui T. Consensus statement on standards for neurocritical care units in low-income and middle-income countries (LMICs). J Crit Care. 2026 Feb;91:155296. Doi: 10.1016/j.jcrc.2025.155296. Epub 2025 Oct 18. PMID: 41110431.
34. 34. Öner Ö, Hanci V, Gürkok MÇ, Ergan B, Yaka E, Gökmen AN. The effect of amantadine treatment on neurological outcome and mortality in mechanically ventilated severe head trauma patients in intensive care unit. Medicine (Baltimore). 2024 May 17;103(20):e38172. Doi: 10.1097/MD.0000000000038172. PMID: 38758901; PMCID: PMC11098193