Beyond Nudging - Boosting Consumer Decision-Making Through Gamification
Type
conference paper
Date Issued
2018-07-27
Author(s)
Abstract
Industries such as financial services see drastically lacking consumer knowledge, leading to far from optimal decision-making. A libertarian paternalistic approach is to nudge people towards what the sender perceives as better choices, however there are significant limitations to the nudging methodology.
We propose to enable or “boost” consumers by giving them crucial context-specific information just before they need to make a choice. Confronting the unwillingness of consumers to spend significant amounts of time learning about financial services, we suggest to enhance such a boosting approach by including game design elements in relevant customer journey stages.
We propose to enable or “boost” consumers by giving them crucial context-specific information just before they need to make a choice. Confronting the unwillingness of consumers to spend significant amounts of time learning about financial services, we suggest to enhance such a boosting approach by including game design elements in relevant customer journey stages.
Language
English
HSG Classification
contribution to scientific community
Event Title
Asia Pacific Risk and Insurance Association Annual Conference (APRIA 2018)
Event Location
Singapore, SG
Subject(s)
Division(s)
Eprints ID
255091