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Archive » January 2024 » Digital Engagement Practices in Retail Investing: Gamification & Other Behavioral Techniques

Digital Engagement Practices in Retail Investing: Gamification & Other Behavioral Techniques

Sasha Tregebov, Sebastian Salomon-Ballada, Laura Callender, Tyler Fleming, Marian Passmore, Matthew Kan
January 2024 - n. 1
Keywords: Investor protection, gamification, digital engagement practices, behavioral economics
Jel codes: D91, E71, G41, G51

There is growing regulatory interest from a Retail Investor protection perspective on the digital engagement practices (Deps) used by mobile-friendly investing platforms. Our article fills critical research gaps in Deps and their impact on investor behavior, with a focus on gamification and other related Deps. We offer an evidence-based Taxonomy of nine tactics relevant to investing platforms and results of a randomized controlled trial measuring the effects of giving investors reward points and showing them a «top traded» list. Participants rewarded with virtually worthless points made almost 40% more trades compared to investors who did not receive rewards.

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