Abstract
Self-awareness of investment biases is essential for individuals to make informed, rational financial decisions, yet this skill is rarely taught in secondary or tertiary education. Consequently, a pressing question arises: how can students be motivated to understand and address their investment biases outside of the classroom? This study addresses how students can be motivated to recognize and address their investment biases outside the classroom. It focuses on the development of a gamified online self-assessment platform designed that evaluates users’ investment biases, categorizing them into distinct investor behavior groups for personalized insights. By using gamification and storytelling, the platform encourages user engagement and self-discovery of investment habits. Survey results show that the storytelling-based test is significantly more interesting than the traditional 10-item Big Five personality instrument. Users also reported greater interest and intention to use the gamified storytelling platform compared to a standard Google Form version. Notably, this storytelling test is among the first to align Big Five personality traits with investment behaviors. The publicly accessible gamified platform helps users increase self-awareness of investment biases and supports financial education, creating positive social impact. The study’s main contribution lies in its innovative integration of gamification into investment behavior assessment, bridging the gap between educational practices and behavioral finance.
Presenters
Philip Tin Yun LeeAssistant Professor, Economics and Finance, Hong Kong Shue Yan University, Hong Kong
Details
Presentation Type
Theme
KEYWORDS
Investment Behavior; Online Self-Assessment; Gamification; Behavioral Finance; Serious Games
