  Electroencephalography (EEG) is an integral tool in neurocognitive research
worldwide. However, research grade EEG (32/64ch) systems are expensive and have
cumbersome setup designed for clinical usage not suited for rugged environment
of field-studies outside lab. Further, the long setup-time of EEG can be
intimidating to those who are restless subjects e.g., children or elderly.
Off-the-shelf, low-cost, dry EEG devices (LCDE) have been proposed as promising
options. However, small number of electrodes in LCDE limit the detection
scalp-area reducing the utility of an LCDE only to a specific set of cognitive
tasks based on the brain lobe scanned. This paper proposes a novel methodology
for calibration of an LCDE (e.g., DREEM Headband) to identify the specific
class of cognitive tasks a LCDE is likely suited for. The methodology involves
comparative analysis of the recorded data using LCDE with EEG-like signals
simulated (using BESA Simulator software) by embedding dipole in a brain lobe.
The simulated scalp activity and corresponding source analysis helps identify
the approximate regions of brain scanned by the LCDE device. On further
comparative analysis of brain lobes source localized using Brain Electrical
Source Analysis (BESA software) helps characterize LCDE for cognitive tasks.
The major findings conclude a list of psychological studies which can be
performed using various LCDE, capable of replacing traditional and expensive
wet EEG systems in both inside and outside-lab settings.
