An empirical evaluation of tech interventions to improve financial decision-making
European Journal of Training and Development
ISSN: 2046-9012
Article publication date: 24 August 2021
Issue publication date: 16 September 2021
Abstract
Purpose
This paper aims to empirically compare the degree to which two technological interventions, based on the computer-supported collaborative learning (CSCL) and the technology acceptance model (TAM), were associated with a different incidence of financial biases.
Design/methodology/approach
The study adopted a quasi-experimental research design. The authors randomly assigned the participants (N = 507) to one of two training conditions or a control group, and in turn, we assessed the incidence of financial biases after the training interventions.
Findings
Participants who took part in the TAM-based group reported lower financial biases than those in the CSCL-based training group and the control group.
Research limitations/implications
Literature suggests that two educational approaches, i.e. the CSCL and the TAM, can implement individuals’ financial decision-making. These educational approaches involve technology to support individuals in reducing the incidence of cognitive biases. This study contributes by advancing empirical evidence on technological supports for interventions to improve financial decision-making.
Practical implications
Suboptimal decision-making may lead to adverse consequences both at the individual and social levels. This paper contributes to the literature on debiasing interventions by offering initial evidence on technological-based interventions in the domain of financial decision-making. The authors discuss the application of this evidence in lifelong training.
Originality/value
This study provides evidence on how different technological interventions are associate with a lower incidence of financial biases.
Keywords
Citation
Tommasi, F., Ceschi, A., Weller, J., Costantini, A., Passaia, G., Gostimir , M. and Sartori, R. (2021), "An empirical evaluation of tech interventions to improve financial decision-making", European Journal of Training and Development, Vol. 45 No. 6/7, pp. 633-649. https://doi.org/10.1108/EJTD-11-2020-0169
Publisher
:Emerald Publishing Limited
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