Can gamification improve financial behavior? The moderating role of app expertise (original) (raw)

International Journal of Bank Marketing, 2019

Abstract

Purpose The purpose of this paper is to explore potential benefits of gamification (application of game-playing elements) for financial well-being and motivation to save. Design/methodology/approach A preliminary survey of college students explored how gamification principles incorporated into money-savings/personal finance smartphone apps could improve financial well-being. The main study utilized Mechanical Turk participants, exposing them to financial game app descriptions that emphasized social features (e.g. leaderboards and ability to share achievements) or economic features (e.g. ability to earn real money or a higher interest rate). Objective and subjective financial measures including expertise with financial apps, perceived benefits of financial apps and behavioral intentions were examined. Findings Financial worry, financial literacy, subjective knowledge and expertise with money-savings/financial applications predicted financial well-being. Additionally, consumers varied...

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