An empirical evaluation of tech interventions to improve financial decision-making

Tommasi, Francesco Valerio; Ceschi, Andrea; Weller, Joshua A.; Costantini, Arianna; Passaia, Giulia; Gostimir, Marija; Sartori, Riccardo

doi:10.1108/ejtd-11-2020-0169

Cited by 6 publications

(3 citation statements)

References 63 publications

Supporting

Mentioning

Contrasting

Order By: Relevance

“…Ultimately, managers seem to show higher levels of consistency in risk perception than entrepreneurs do. Not all individuals realize the possible adverse impacts of their decisions, conversely, they believe that major impacts of their decisions are due to the financial risk and of the risk related to changes in the contextual factors (Tommasi et al, 2021). Therefore, the consistency in risk perception shows higher correlation with specific individual differences.…”

Section: Higher Consistency In Risk Perception Among Managersmentioning

confidence: 99%

Quick-witted entrepreneurs versus systematic managers: a comparative analysis of decision-making competence

Tommasi,

Sartori,

Bollarino

et al. 2023

EBHRM

Self Cite

View full text Add to dashboard Cite

PurposeDecision-making competence (DMC) of entrepreneurs and managers is a longstanding topic in this increasingly globalized world. These figures operate in conditions not within their own control, and good levels of DMC are often considered to be desirable for the flourishing of business and society. This paper reports an empirical investigation on the DMC of entrepreneurs and managers, in an attempt to inform about their tendencies to incur in risky and costly choices.Design/methodology/approachThree cognitive biases associated with operational strategies and individual characteristics of entrepreneurs and managers, namely under/overconfidence (UOC, i.e. self-confidence in taking decisions), resistance to sunk costs (RSC, i.e. propensity to take cost investments) and consistency in risk perception (CRP, i.e. how well individuals understand probability rules) were considered . Cognitive biases measures were used in a cross-sectional study on a sample of n = 639 entrepreneurs and n = 512 managers. Data collected via online survey were analyzed using descriptive statistics and inferential statistics to determine differences among entrepreneurs and managers DMC.FindingsAnalyses reveal that entrepreneurs exhibit higher levels of UOC compared to managers with a marked presence of UOC among entrepreneurs at younger ages. Conversely, performance regarding RSC improves with higher education levels while age and RSC are positively correlated only for managers, regardless of education. Lastly, entrepreneurs and managers resulted as not being affected by CRP. This study discusses these results to provide initial insights for further avenues of research and practice.Originality/valueThe study offers an innovative, evidence-based viewpoint on how entrepreneurs and managers deal with risky and costly decisions. It offers an initial understanding of the role of UOC, RSC and CRP, that is specific cognitive biases associated with operational strategies and individual characteristics, in the DMC of these working figures. The study forwards avenues of scrutiny of quick-witted entrepreneurs and systematic managers.

show abstract

Section: Higher Consistency In Risk Perception Among Managersmentioning

confidence: 99%

Quick-witted entrepreneurs versus systematic managers: a comparative analysis of decision-making competence

Tommasi,

Sartori,

Bollarino

et al. 2023

EBHRM

Self Cite

View full text Add to dashboard Cite

show abstract

“…To take into account these calls for efforts in the education programs for the promotion of critical thinking can be supported by following lines of theoretical and applied research in psychology. In this context, seminal contributions have launched several training programs for helping individuals in reducing cognitive errors, and to not incur in irrational beliefs (e.g., Kahneman & Tversky, 1984;Tommasi et al, 2021).…”

Section: Critical Skills In Vetmentioning

confidence: 99%

Enhancing Critical Thinking Skills and Media Literacy in Initial VET Students: A Mixed Methods Study on a Cross-Country Training Program

Tommasi,

Ceschi,

Bollarino

et al. 2023

IJRVET

View full text Add to dashboard Cite

Context: In the last few decades, the constant and exponential changes in the society's consumption of information have increased the awareness of practitioners from the education and training field, on the need for training programs for the enhancement of critical thinking skills and media literacy among students from Initial Vocational Education and Training (IVET) who are less exposed to intellectual trainings than their peers in traditional education pathways. Approach: With this impetus, the present paper reports the results of a mixed methods study evaluating a training program for such competences. Based on a cognitive psychology theoretical framework, the training program consisted in three main techniques through which trainers can work with students in the classroom. N= 35 trainers from five different countries (i.e., Greece, Italy, Spain, Portugal, and the Netherlands) were instructed about the training techniques and implemented them in their training centres. Then, a total of N= 288 students among these countries were involved in the testing of the training, which took place on a duration average of 5 months. Mixed methods approach was used to evaluate the effectiveness and quality of the training. Notably, prospective statistical analysis evaluated the training's impact of the participating students and compared with a control group. Qualitative interviews examined the training's lived experience with a group of students and trainers. Findings: The quantitative and qualitative analysis of pre/post- measures of critical thinking skills and media literacy of the experimental group, and the comparison with the control group, indicate an increase in these competences and confirm the efficacy of the training intervention. Conclusion: These results inform about the usefulness of the training program cross-culturally and the feasibility of training strategies based on cognitive psychology. Moreover, the paper offers a methodological contribution thanks to the proposition of the mixed methods approach for training programs assessment.

show abstract

“…Finally, to continue in the wake of automation and digital support for learning and work activities, the ninth and final article by Tommasi et al (2021) (https://doi.org/10.1108/EJTD-11-2020-0169) aims to empirically compare the degree to which two technological interventions, based on the computer-supported collaborative learning and the technology acceptance model , were associated with a different incidence of financial biases.…”

mentioning

confidence: 99%

Guest editorial

Sartori

2021

EJTD

Self Cite

View full text Add to dashboard Cite

Competence-based training for career developmentIt is with pleasure and at the same time with sorrow that we, Riccardo Sartori and Arianna Costantini, present this second special issue about competence-based training for career development. The first special issue, with the same title, was edited by one of us and Giuseppe Tacconi, the third editor of the present special issue (Sartori and Tacconi, 2017).The pleasure is linked to the publication of an issue that took about two years of work and allowed the collection of a significant number of contributions, of which we are very proud. The sorrow is linked to the death of our colleague Giuseppe Tacconi, prematurely occurred at the beginning of 2020 due to a bad illness. Giuseppe was a pedagogist attentive to the issues of competence-based training and development, both as a researcher and as a professional (

show abstract

An empirical evaluation of tech interventions to improve financial decision-making

Cited by 6 publications

References 63 publications

Quick-witted entrepreneurs versus systematic managers: a comparative analysis of decision-making competence

Quick-witted entrepreneurs versus systematic managers: a comparative analysis of decision-making competence

Enhancing Critical Thinking Skills and Media Literacy in Initial VET Students: A Mixed Methods Study on a Cross-Country Training Program

Guest editorial

Contact Info

Product

Resources

About