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Online investment advisors and novice users
KTH, School of Computer Science and Communication (CSC), Media Technology and Interaction Design, MID.
2015 (English)In: ACM International Conference Proceeding, ACM Press, 2015, Vol. 01-03-Jul-2015Conference paper (Refereed)Text
Abstract [en]

Online investment advisors, recommender systems in the finance domain, are becoming more common as a low-cost alternative to human financial advisors. However, little is known about how online investment advisors are perceived by users with low financial expertise, who would arguably be the most vulnerable target group. In a qualitative test, novice users with a low income were found to distrust the advisory system and financial markets in general, to possess too little financial literacy to be able to understand the system’s advice, and to feel unmotivated and pessimistic regarding the benefits of investing.

Place, publisher, year, edition, pages
ACM Press, 2015. Vol. 01-03-Jul-2015
Keyword [en]
Finance, Qualitative research, Recommender systems
National Category
Human Computer Interaction
Identifiers
URN: urn:nbn:se:kth:diva-187148DOI: 10.1145/2788412.2788437ScopusID: 2-s2.0-84958244790ISBN: 978-145033612-3OAI: oai:DiVA.org:kth-187148DiVA: diva2:928943
Conference
33rd Annual European Conference on Cognitive Ergonomics 2015, ECCE 2015; Warsaw; Poland
Note

QC 20160517

Available from: 2016-05-17 Created: 2016-05-17 Last updated: 2016-05-17Bibliographically approved

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Heyman, Susanna
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ReferencesLink to record
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