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Investor decision making: an investigation of the modality effect.
- Source :
- Journal of Decision Systems; 2023, Vol. 32 Issue 1, p242-263, 22p
- Publication Year :
- 2023
-
Abstract
- Information modality refers to the use of different sensory channels to process information when making decisions: for example audible or visual information. This study examines the impact of information modality on investors making financial decisions. A Repertory Grid analysis is performed to derive features and functionality to create an Amazon Echo Show system for financial decision-making. This system is used to present a mixture of both audio and visual information to facilitate financial decision-making. The system is tested through the lens of the modality effect to determine the best method of presenting financial data to investors to inform their decision-making. Findings show the inferiority of audible information over visual information for retail investors' decision-making, especially for numerical data. However, with adjustments in information length and by prioritising non-numerical data, audible information could be of significant benefit when designing future systems to aid investor decision-making. [ABSTRACT FROM AUTHOR]
- Subjects :
- INVESTORS
DECISION making
INDIVIDUAL investors
AMAZON Echo
INVESTMENT information
Subjects
Details
- Language :
- English
- ISSN :
- 12460125
- Volume :
- 32
- Issue :
- 1
- Database :
- Complementary Index
- Journal :
- Journal of Decision Systems
- Publication Type :
- Academic Journal
- Accession number :
- 169729788
- Full Text :
- https://doi.org/10.1080/12460125.2021.2023256