2021
DOI: 10.1371/journal.pone.0249283
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Increasing saving intentions through leaderboards: A gamification approach

Abstract: Saving money is important but challenging. To spur financial saving intentions, we propose a new strategy—gamification. Specifically, we investigate the effectiveness of competitive leaderboards in increasing individuals’ saving intentions. The results of two studies (total N = 618) show consistently that people’s saving intentions are higher when presented with a leaderboard than when not. Further, as leaderboards elicit social comparison, we explore whether the height of the comparison standard and individua… Show more

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Cited by 8 publications
(5 citation statements)
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References 54 publications
(50 reference statements)
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“…However, prior studies report mixed findings of leaderboards' effectiveness. Though there exist positive correlations between leaderboards and user engagements (Huang and Hew 2015, Wu et al 2015, Zhang et al 2021, other studies document negative (Hanus and Fox 2015) or no impacts (Costa et al 2013).…”
Section: Leaderboard and Social Comparisonmentioning
confidence: 98%
“…However, prior studies report mixed findings of leaderboards' effectiveness. Though there exist positive correlations between leaderboards and user engagements (Huang and Hew 2015, Wu et al 2015, Zhang et al 2021, other studies document negative (Hanus and Fox 2015) or no impacts (Costa et al 2013).…”
Section: Leaderboard and Social Comparisonmentioning
confidence: 98%
“…Besides informational-social influence, social comparison in the context of gamification (e.g. gamified apps) also promotes desired behaviors (Zhang et al. , 2021).…”
Section: The Ideation Creation and Dissemination Of Transformative Valuementioning
confidence: 99%
“…leaderboards) in non-game contexts to induce competition and thus fosters transformative behaviors like sustainable energy usage (Mulcahy et al. , 2020) or financial savings (Zhang et al. , 2021).…”
Section: The Ideation Creation and Dissemination Of Transformative Valuementioning
confidence: 99%
“…Such contexts are abundant because many modern technologies include social interaction elements. For example, through gamification, websites can encourage social compassion and healthy competitions to promote desirable behaviors such as learning, exercising, information security compliance, and saving money (Klock et al, 2020;Silic and Lowry, 2020;Tu et al, 2019;Zhang et al, 2021). At the same time, such social elements and interactions can drive peer privacy concern, as one exposes their information to others (think about dating websites, social commerce websites, and multiplayer video games).…”
Section: Theoretical Implicationsmentioning
confidence: 99%