Dominik Jung

Designing a robo-advisor for risk-averse, low-budget consumers

Banks have reacted much more enthusiastically to the FinTech revolution than many of their customers. Robo-advisory, automated web-based investment advisory, in particular promises many advantages for both banks and customers - but consumer adoption has been slow so far. Recent studies suggest that this might be due to a mix of low trust in banks, high expectations of transparency and general inability or unwillingness to engage with investment questions. Research in decision support and guidance shows customers’ willingness to interact with a decision support tool depends greatly on its usability. We identify requirements for robo-advisory, derive design principles and evaluate them in two iterations with a real robo-advisor in a controlled laboratory study. The evaluation results confirm the validity of our identified design principles.

Empfehlungen für eine generelle IT-Service-Katalog-Struktur

IT-Service-Kataloge (ITSK) liefern einen wichtigen Beitrag in Verwaltung und Vertrieb von IT-Produkten. Besonders die Konzeption der Struktur eines IT-Service-Katalogs erweist sich oft als schwierig, da geeignete Vorlagen zum Aufbau kaum vorhanden sind. Zukunftig werden hochentwickelte ITSK vor allem fur die Ansprache von externen Kunden weiter an Bedeutung gewinnen. Eine sinnvolle Strukturierung des ITSK ist daher wichtig. In der Literatur sind unterschiedliche Perspektiven und Herangehensweisen zur Strukturierung anzutreffen, wobei die Gesamtzahl der Arbeiten zu diesem Thema bisher recht uberschaubar blieb. Der vorliegende Beitrag kombiniert eine Literaturanalyse mit der Befragung von Experten aus der Praxis, um Anforderungen an die Strukturierung von ITSK zu ermitteln und einen Gestaltungsvorschlag zu machen. Dieser zeichnet sich durch mehrere Beschreibungsebenen in Verbindung mit einem Sichtenkonzept aus, wodurch die teils gegenlaufigen Anforderungen umgesetzt werden konnen. Der Vorschlag wird anhand eines Fallbeispiels veranschaulicht.

Robo-Advisory: Opportunities and Risks for the Future of Financial Advisory

Without professional advisors, taking financial risks is a challenging task for most private households (retail investors). Across countries, digital financial advisory services, in particularly robo-advisors, are becoming more popular in retail and private banking. These tools support their users in financial decision-making, like risk-measurement, portfolio selection, or rebalancing. Recent studies suggest that in the long-term, they could supplement human financial advisory. This work illustrates the key concepts of this (r)evolution, and discusses strengths, weaknesses, opportunities and risks of robo-advisory. The results suggest that robo-advisors have a huge potential to shape the future of the financial advisory industry, despite the fact that there is still a lot of potential yet to be exploited.

Decision Inertia and Arousal: Using NeuroIS to Analyze Bio-Physiological Correlates of Decision Inertia in a Dual-Choice Paradigm

Decision inertia is a cognitive process describing the reluctance to incorporate new information in choices, manifesting in the tendency to repeat previous choices regardless of the consequences. In this work, we discuss recent research in decision inertia, and show that inter-individual differences in arousal may play an important role for understanding decision inertia. We derive a NeuroIS framework for the operationalization of decision inertia, and discuss our conceptualization with a view towards a general theory of decision inertia.

A practical guide for human lab experiments in information systems research: A tutorial with Brownie

Purpose Human lab experiments have become an established method in information systems research for investigating user behavior, perception and even neurophysiology. The purpose of this paper is to facilitate experimental research by providing a practical guide on how to implement and conduct lab experiments in the freely available experimental platform Brownie. Design/methodology/approach Laying the groundwork of the tutorial, the paper first provides a brief overview of common design considerations for lab experiments and a generic session framework. Building on the use case of the widely used trust game, the paper then covers the different stages involved in running an experimental session and maps the conceptual elements of the study design to the implementation of the experimental software. Findings The paper generates findings on how computerized lab experiments can be designed and implemented. Furthermore, it maps out the design considerations an experimenter may take into account when implementing an experiment and organizing it along a session structure (e.g. participant instructions, individual and group interaction, state and trait questionnaires). Originality/value The paper reduces barriers for researchers to engage in experiment implementation and replication by providing a step-by-step tutorial for the design and implementation of human lab experiments.

Designing Live Biofeedback for Groups to Support Emotion Management in Digital Collaboration

Digital collaboration of individuals has increased in diverse areas such as gaming, learning and product innovation. Across scenarios, adequate intra- and interpersonal emotion management is increasingly acknowledged to be beneficial to cognitive and affective interaction outcomes. Unfortunately, individuals differ notably in their emotion management abilities. Additionally, many types of computer mediated collaboration lack the richness of affective cues traditionally found in face-to-face interaction. We envision psychophysiology-based emotion feedback as an automated tool to improve emotion management, and therefore group performance and satisfaction. The presented prototype presents a first iteration of this idea, centered around information on emotional arousal derived from peripheral nervous system measures.

Recommendations for a general IT Service Catalogue structure

IT Service Catalogues (ITSCs) make an important contribution to the administration and distribution of IT products. It is often particularly difficult to draw up a structural concept of an IT Service Catalogue, as appropriate examples are scarce. In the future, advanced ITSCs will be especially important in attracting external customers. So, a practical structure for the ITSC is important. Different perspectives and approaches for structuring an ITSC can be found in the literature, but the total number of works on this topic is relatively small. This article combines an analysis of the literature with consultation of business experts to determine the requirements for ITSC structuring and to formulate a design proposal. This stands out due to several levels of description in combination with a view concept, through which opposing needs can be met. The proposal is illustrated by means of a case study.