Fig. 3

Dynamics of market price and 5-period moving averages of arousal, dis-engagement and lack of attention for the holdings and decision-making sub-periods of the first trading session round. Moving averages better capture highly variable eye movements and attenuate trial-to-trial volatility to better visualize their dynamics alongside price dynamics. Bars represent standard errors. The green line marks the moment of the market crash. See the “Appendix” for dynamics of variables during the second trading session in Fig. 7