| Publication type: | Conference paper |
| Type of review: | Peer review (publication) |
| Title: | Microworlds as the locus of consumer education in financial advisory services |
| Authors: | Heinrich, Peter Kilic, Mehmet Schwabe, Gerhard |
| et. al: | No |
| Proceedings: | ICIS 2014 Proceedings : IS Design Science |
| Conference details: | Thirty Fifth International Conference on Information System, Auckland, New Zealand, 14-17 December 2014 |
| Issue Date: | 2014 |
| Publisher / Ed. Institution: | Association for Information Systems |
| Language: | English |
| Subjects: | Financial advisory service; Consumer education; Financial literacy; Design science research |
| Subject (DDC): | 332: Financial economics 370: Education |
| Abstract: | The complexity of financial matters and the financial illiteracy of clients prevents informed financial decision making in current financial advisory services. We propose a novel approach to improve this situation: The advisor integrates small learning episodes directly into the service encounter. These learning episodes are implemented using the concept of explorative learning and "microworlds," i.e., small self-contained simulations. The resulting prototype is called "FinanceWorlds.” An evaluation reveals that the system significantly improves client knowledge compared to traditional paperbased explanations. The paper contributes the generic principles underlying FinanceWorld's design to the knowledgebase on consumer education in financial (and other knowledge intensive) services. It thus supports practitioners in designing tomorrow’s advisory encounters. |
| URI: | https://www.merlin.uzh.ch/contributionDocument/download/8285 https://digitalcollection.zhaw.ch/handle/11475/20131 |
| Fulltext version: | Published version |
| License (according to publishing contract): | Licence according to publishing contract |
| Departement: | School of Management and Law |
| Organisational Unit: | Institute of Business Information Technology (IWI) |
| Appears in collections: | Publikationen School of Management and Law |
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Heinrich, P., Kilic, M., & Schwabe, G. (2014). Microworlds as the locus of consumer education in financial advisory services. ICIS 2014 Proceedings : IS Design Science. https://www.merlin.uzh.ch/contributionDocument/download/8285
Heinrich, P., Kilic, M. and Schwabe, G. (2014) ‘Microworlds as the locus of consumer education in financial advisory services’, in ICIS 2014 Proceedings : IS Design Science. Association for Information Systems. Available at: https://www.merlin.uzh.ch/contributionDocument/download/8285.
P. Heinrich, M. Kilic, and G. Schwabe, “Microworlds as the locus of consumer education in financial advisory services,” in ICIS 2014 Proceedings : IS Design Science, 2014. [Online]. Available: https://www.merlin.uzh.ch/contributionDocument/download/8285
HEINRICH, Peter, Mehmet KILIC und Gerhard SCHWABE, 2014. Microworlds as the locus of consumer education in financial advisory services. In: ICIS 2014 Proceedings : IS Design Science [online]. Conference paper. Association for Information Systems. 2014. Verfügbar unter: https://www.merlin.uzh.ch/contributionDocument/download/8285
Heinrich, Peter, Mehmet Kilic, and Gerhard Schwabe. 2014. “Microworlds as the Locus of Consumer Education in Financial Advisory Services.” Conference paper. In ICIS 2014 Proceedings : IS Design Science. Association for Information Systems. https://www.merlin.uzh.ch/contributionDocument/download/8285.
Heinrich, Peter, et al. “Microworlds as the Locus of Consumer Education in Financial Advisory Services.” ICIS 2014 Proceedings : IS Design Science, Association for Information Systems, 2014, https://www.merlin.uzh.ch/contributionDocument/download/8285.
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