Abstract
Robo-advisors, a type of automated decision aid, offer consumers a cost-efficient
alternative to traditional financial advisory services. Because aids do not always
produce correct judgments, however, users may fail to act appropriately on their
advice. To anticipate and protect against suboptimal aid use, designers need to
understand the variables that influence automation trust and dependence,
including the operators' inherent biases, and the characteristics of the automated
system itself. This paper reviews the literature on human interaction with decision aids, aiming to inform the design of robo-advisory platforms.
alternative to traditional financial advisory services. Because aids do not always
produce correct judgments, however, users may fail to act appropriately on their
advice. To anticipate and protect against suboptimal aid use, designers need to
understand the variables that influence automation trust and dependence,
including the operators' inherent biases, and the characteristics of the automated
system itself. This paper reviews the literature on human interaction with decision aids, aiming to inform the design of robo-advisory platforms.
| Original language | English |
|---|---|
| Article number | e1059 |
| Pages (from-to) | 1 |
| Number of pages | 11 |
| Journal | Financial Planning Review |
| Volume | 2 |
| Issue number | 3-4 |
| DOIs | |
| Publication status | Published - 6 Nov 2019 |
Keywords
- automation
- financial planning
- fintech
- psychology and human decision making
- robo-advisor