IDEAS home Printed from https://ideas.repec.org/a/plo/pone00/0269454.html
   My bibliography  Save this article

Robo-advisor acceptance: Do gender and generation matter?

Author

Listed:
  • Gianna Figà-Talamanca
  • Paola Musile Tanzi
  • Eleonora D’Urzo

Abstract

Robo-advice technology refers to services offered by a virtual financial advisor based on artificial intelligence. Research on the application of robo-advice technology already highlights the potential benefit in terms of financial inclusion. We analyze the process for adopting robo-advice through the technology acceptance model (TAM), focusing on a highly educated sample and exploring generational and gender differences. We find no significant gender difference in the causality links with adoption, although some structural differences still arise between male and female groups. Further, we find evidence that generational cohorts affect the path to future adoption of robo-advice technology. Indeed, the ease of use is the factor which triggers the adoption by Generation Z and Generation Y, whereas the perceived usefulness of robo-advice technology is the key factor driving Generation X+, who need to understand the ultimate purpose of a robo-advice technology tool before adopting it. Overall, the above findings may reflect that, while gender differences are wiped out in a highly educated population, generation effects still matter in the adoption of a robo-advice technology tool.

Suggested Citation

  • Gianna Figà-Talamanca & Paola Musile Tanzi & Eleonora D’Urzo, 2022. "Robo-advisor acceptance: Do gender and generation matter?," PLOS ONE, Public Library of Science, vol. 17(6), pages 1-13, June.
    • Handle: RePEc:plo:pone00:0269454
    DOI: 10.1371/journal.pone.0269454
    as

    Download full text from publisher

    File URL: https://journals.plos.org/plosone/article?id=10.1371/journal.pone.0269454
    Download Restriction: no
    File URL: https://journals.plos.org/plosone/article/file?id=10.1371/journal.pone.0269454&type=printable
    Download Restriction: no
    File URL: https://libkey.io/10.1371/journal.pone.0269454?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Ali B. Mahmoud & Dieu Hack-Polay & Nicholas Grigoriou & Iris Mohr & Leonora Fuxman, 2021. "A generational investigation and sentiment and emotion analyses of female fashion brand users on Instagram in Sub-Saharan Africa," Journal of Brand Management, Palgrave Macmillan, vol. 28(5), pages 526-544, September.
    2. Brad M. Barber & Terrance Odean, 2001. "Boys will be Boys: Gender, Overconfidence, and Common Stock Investment," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 116(1), pages 261-292.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Chhatwani, Malvika & Parija, Arpit Kumar, 2023. "Who invests in cryptocurrency? The role of overconfidence among American investors," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 107(C).
    2. Berg, Joyce E. & Rietz, Thomas A., 2019. "Longshots, overconfidence and efficiency on the Iowa Electronic Market," International Journal of Forecasting, Elsevier, vol. 35(1), pages 271-287.
    3. Maxime Menuet & Petros G. Sekeris, 2021. "Overconfidence and conflict," Economic Inquiry, Western Economic Association International, vol. 59(4), pages 1483-1499, October.
    4. Daniel Fonseca Costa & Francisval Carvalho & Bruno César Moreira & José Willer Prado, 2017. "Bibliometric analysis on the association between behavioral finance and decision making with cognitive biases such as overconfidence, anchoring effect and confirmation bias," Scientometrics, Springer;Akadémiai Kiadó, vol. 111(3), pages 1775-1799, June.
    5. Bobba, Matteo & Frisancho, Veronica, 2022. "Self-perceptions about academic achievement: Evidence from Mexico City," Journal of Econometrics, Elsevier, vol. 231(1), pages 58-73.
    6. Foliano, Francesca & Tonei, Valentina & Sevilla, Almudena, 2024. "Social restrictions, leisure and well-being," Labour Economics, Elsevier, vol. 87(C).
    7. Jason M. Lindo & Nicholas J. Sanders & Philip Oreopoulos, 2010. "Ability, Gender, and Performance Standards: Evidence from Academic Probation," American Economic Journal: Applied Economics, American Economic Association, vol. 2(2), pages 95-117, April.
    8. Constantinos Antoniou & John A. Doukas & Avanidhar Subrahmanyam, 2016. "Investor Sentiment, Beta, and the Cost of Equity Capital," Management Science, INFORMS, vol. 62(2), pages 347-367, February.
    9. David E. Allen & Michael McAleer & Abhay K. Singh, 2019. "Daily market news sentiment and stock prices," Applied Economics, Taylor & Francis Journals, vol. 51(30), pages 3212-3235, June.
    10. Aman, Hiroyuki & Motonishi, Taizo & Ogawa, Kazuhito & Omori, Kozo, 2024. "The effect of financial literacy on long-term recognition and short-term trade in mutual funds: Evidence from Japan," International Review of Economics & Finance, Elsevier, vol. 89(PB), pages 762-783.
    11. Prokudina, Elena & Renneboog, Luc & Tobler, Philippe, 2015. "Does Confidence Predict Out-of-Domain Effort?," Discussion Paper 2015-055, Tilburg University, Center for Economic Research.
    12. Camilla Barbarossa, 2014. "Female work tra offittodi vetro e aratteristichedi genere," ESPERIENZE D'IMPRESA, FrancoAngeli Editore, vol. 2014(1).
    13. Niculaescu, Corina E. & Sangiorgi, Ivan & Bell, Adrian R., 2023. "Does personal experience with COVID-19 impact investment decisions? Evidence from a survey of US retail investors," International Review of Financial Analysis, Elsevier, vol. 88(C).
    14. Kazi Iqbal & Asad Islam & John List & Vy Nguyen, 2021. "Myopic Loss Aversion and Investment Decisions: From the Laboratory to the Field," Framed Field Experiments 000730, The Field Experiments Website.
    15. Brad M. Barber & Yi‐Tsung Lee & Yu‐Jane Liu & Terrance Odean, 2007. "Is the Aggregate Investor Reluctant to Realise Losses? Evidence from Taiwan," European Financial Management, European Financial Management Association, vol. 13(3), pages 423-447, June.
    16. Brenøe, Anne Ardila & Eyibak, Zeynep & Heursen, Lea & Ranehill, Eva & Weber, Roberto A., 2024. "Gender Identity and Economic Decision Making," IZA Discussion Papers 17564, Institute of Labor Economics (IZA).
    17. V. Bhaskar & Caroline Thomas, 2019. "The Culture of Overconfidence," American Economic Review: Insights, American Economic Association, vol. 1(1), pages 95-110, June.
    18. van Rijn, Jordan, 2018. "The Effect of Membership Expansion on Credit Union Risk and Returns," Staff Paper Series 588, University of Wisconsin, Agricultural and Applied Economics.
    19. Bertocchi, Graziella & Brunetti, Marianna & Torricelli, Costanza, 2014. "Who holds the purse strings within the household? The determinants of intra-family decision making," Journal of Economic Behavior & Organization, Elsevier, vol. 101(C), pages 65-86.
    20. Cakici, Nusret & Zaremba, Adam, 2022. "Salience theory and the cross-section of stock returns: International and further evidence," Journal of Financial Economics, Elsevier, vol. 146(2), pages 689-725.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:plo:pone00:0269454. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: plosone (email available below). General contact details of provider: https://journals.plos.org/plosone/ .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.