LY 178002 is primarily used in research settings to study its effects on serotonin receptors. It acts as a serotonin receptor antagonist, making it valuable for understanding the role of serotonin in various physiological and psychological processes. Researchers utilize this compound to explore its potential in modulating serotonin-related pathways, which could have implications for treating conditions like anxiety, depression, and other mood disorders. Additionally, it serves as a tool in pharmacological studies to investigate receptor binding and signal transduction mechanisms, aiding in the development of new therapeutic agents targeting serotonin systems.