A 15-day course of donepezil modulates spectral EEG dynamics related to target auditory stimuli in young, healthy adult volunteers

•Time–frequency analyses were used to identify dynamic electroencephalographic markers of donepezil’s effect in healthy young adults.•Inter-trial coherence and event-related spectral perturbation analyses can detect subtle changes related to donepezil’s effects.•Electroencephalography may be a valuable tool for predicting the efficacy of drug candidates prior to Phase II/III clinical trials in Alzheimer’s disease.