Building Technology for Financial Decision-Making and Learning
Competence in financial matters has become part and parcel of everyday life, both at the work place and in our daily lives. Traditional learning cannot deliver the necessary skills, and more innovative solutions are needed. Serious games, wearable sensors, and behavioural and cognitive neuroscience lie at the heart of this project’s novel, technology-supported approach to expertise and competence-building in financial decision making.
A Compelling Case
Nobody seriously questions nowadays the need to provide ordinary citizens and professionals with suitable learning opportunities to improve their financial decision skills. The recent financial crisis has made it plain that flawed judgments aren’t the exclusive realm of laypeople. There is ample evidence that private investors and traders at large investment banks suffered from many of the same shortcomings as ordinary people. So, what can be done to help individuals avoid the common decision traps and impel them to take those actions that in fact improve their own economic wellbeing and that of their environment? Results from traditional learning approaches to overcome this problem have so far been disappointing, but cutting-edge gaming and sensor technology are showing us new ways to improve cognitive and emotional decision making skills.