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Cognitive Fit and Visual Pattern Recognition in Financial Information System: An Experimental Study

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Conference at NeuroIS Gmunden 2018 in Vienna.
Authors : Martin, Boyer, Léger, Dumont

Published in: Business
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Cognitive Fit and Visual Pattern Recognition in Financial Information System: An Experimental Study

  1. 1. Cognitive Fit and Visual Pattern Recognition in Financial Information System An Experimental Study Jérôme Martin Martin Boyer Pierre-Majorique Léger Laurence Dumont HEC Montréal NeuroIS Retreat 2018 Vienna, June 19th - 21st
  2. 2. © Copyright Martin et al. 2018 Visual pattern recognition in monitoring tasks ▪▪ Numerous IT jobs rely on visual pattern recogni- tion in monitoring tasks. ▪▪ The case of technical traders using financial infor- mation system.
  3. 3. © Copyright Martin et al. 2018 Research question Examine the effect of attention and working memory on the performance of traders in a recall financial task.
  4. 4. © Copyright Martin et al. 2018 Literature review Visual attention Visual attention intervenes in the decision-making process (Orquin & Loose, 2013) Visual attention plays an import- ant role for pattern recognition (Posner & Petersen, 1990)
  5. 5. © Copyright Martin et al. 2018 Can only store a limited amount of information and for a short period of time (Cowan, 2011; Miller, 1956). Its capacity predicts performance on a wide range of cognitive tasks such as reasoning (Ackerman, Beier & Boyle, 2005; Kane, Hambrick & Conway, 2005), reading (Daneman & Carpenter, 1980) and more. Literature review Working memory
  6. 6. © Copyright Martin et al. 2018 Two types of errors: miss and false alarm (Tanner & Swets, 1954). Literature review Signal detection theory Respond “Present” Respond “Absent” Stimulus Present Hit Miss Stimulus Absent False Alarm Correct Rejection
  7. 7. © Copyright Martin et al. 2018 Hypotheses H1 The performance of decision makers is positively correl- ated to their working mem- ory capacity. H2 The performance of deci- sion makers is positively correlated to their attention level. H3 The performance of decision makersisimpactednegatively whenfacinganewtaskwhich they think they have previ- ously faced (false alarms trials). H4 The performance of deci- sion makers is less impacted by their attention level for a task they know they previ- ously faced (hit trials).
  8. 8. © Copyright Martin et al. 2018 Experimental design Sociodemographic questionnaire investment survey Trading simulations N-back 1 test
  9. 9. © Copyright Martin et al. 2018 Apparatus The eye movements were tracked using an infrared pupil reflection system (SMI RED250) with a sampling rate of 60 Hz. We constructed one area of interest (AOI) which captured the whole chart for every scen- ario of the Investment Survey. SMI RED250 Eye Tracking Device
  10. 10. © Copyright Martin et al. 2018 Participants ▪▪ 30 participants (22 male and 8 female) aged between 18 and 42 years (average 24.63 and std. dev. 5.90). ▪▪ Fixed remuneration of 20$ at the university’s bookstore and pos- sibility to win an additional 200$ based on performance.
  11. 11. © Copyright Martin et al. 2018 Results Statistical test: Independentlinearmixedmodelwith control variables Effect on total profit B SE B DF t p (H1) N-Back 1 score 22,938 12,921 450 1,43 0,038* (H2) Number of fixations in the chart 1,041 0,614 449 1,34 0,045* Effect B SE B DF t p (H3) N-Back 1 bias 64,501 25,548 448 2,52 0,012* (H3) N-Back 1 bias with false alarm trials -82,598 26,478 448 -3,12 0,002* (H4) Number of fixations in the chart 1,625 0,647 447 2,51 0,012* (H4) Number of fixations in the chart with hit trials -1,702 0,628 447 -2,71 0,007* (H4) Fixations duration in the chart 0,004 0,002 448 2,17 0,031* (H4) Fixations duration in the chart with hit trials -0,006 0,002 448 -2,81 0,005* Table 1. Effect of working memory capacity and visual attention on total profit Table 2. Effect of interaction between working memory capacity or visual attention and the type of scenario on total profit *p<.05
  12. 12. © Copyright Martin et al. 2018 Conclusion ▪▪ Both attention and working memory capacity are positively correlated to performance. Importance to use the right type of external representation. ▪▪ Decision makers are subject to overconfidence. FISshouldhaveafunctionreportingtheresemblance degree of visual patterns to simplify decision mak- ing process.
  13. 13. Limitations and future research ▪▪ Results are limited to novice investors. Future research should focus on expert decision makers. ▪▪ Future research should focus on the impact of decision makers emotionalreactionandoverconfi- dence on decision makers’ prob- lem-solving performance.
  14. 14. Thank you!

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