Theory and hypotheses
Theoretical background and literature review
Task & Stimuli
Jung et al. (2018)
Interactive Portfolio Selection with Robo Advisor
Ease of Interaction
Ease of interaction signals transparency which leads to higher customer trust.
Musto et al. (2015)
Asset Allocation with OFS Advice Wealth-Management Platform
. / .
Performance of Robo Advisor
(vs. Human Advisor)
Robo advisors outperform human advisors while meeting the preferred risk profile.
Touré-Tillery, & McGill (2015)
Watch Online Advertisements for Dental Floss, Lightbulb, Coffee Mug
Anthropomorphism Interpersonal Trust
People low in interpersonal trust are more persuaded by anthropomorphized messengers than by human spokespeople.
Luo et al. (2006)
Watch Scenario of Online Booking Process
Facial Appearance (human vs. cartoon)
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Human-like characters are perceived as more trustworthy than cartoon like characters.
Adam et al. (2019)
Interactive Onboarding and Portfolio Selection with Robo Advisor
Anthropomorphized robo advisors lead to higher perceptions of social presence and higher investment volume.
Köhler et al. (2011)
Survey of Self-Selected Customers Using Online Banking Assistant
Social Learning Theory
Interaction Style (proactive, reactive) Content (social, functional)
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Proactive (vs. reactive) interaction style paired with delivery of functional (vs. social) content improves newcomer adjustment (service use efficacy of new customers), which in turn improves firm level performance.
Interactive Flower Ordering Task with Chatbot
Conversational interface that use more human-like cues build a stronger emotional connection with the company, independent of whether a chatbot is framed as intelligent or not.
Interactive Risk Assessment & Portfolio Selection with Non-Conversational vs. Conversational Robo Advisor
(Recommendation Acceptance, Portfolio Allocation)
Turn-taking and social cues lead to higher affective trust in a robo advisor, more positive firm perception, and greater recommendation acceptance (even if objectively wrong or invoking larger annual fees).