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The Impact of Gamification on Retail Investor Behavior: A Behavioral Finance Perspective Tomy Prasetia; Lista Meria; Kursih Sulastriningsih; Nolan Liam
IAIC Transactions on Sustainable Digital Innovation (ITSDI) Vol 7 No 2 (2026): April
Publisher : Pandawan Sejahtera Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.34306/itsdi.v7i2.727

Abstract

The rapid growth of commission-free, mobile-based trading apps has made it easier for retail investors to participate in financial markets while introducing gamification features that influence how they make decisions. This study examines how these gamified elements affect trading frequency, risk-taking, and cognitive biases, as well as the ethical and regulatory implications that arise. We conducted a systematic literature review of studies published between 2021 and 2025, analyzing peer-reviewed articles and regulatory reports focused on behavioral finance, gamification psychology, and fintech governance. The research asks three main questions: How do gamification features influence trading frequency? How do they affect investors’ risk-taking behavior? Which behavioral biases are most reinforced? Based on these, we formulated hypotheses to explore the relationships in detail. The findings show that animations, rewards, and social comparison features increase trading activity, encourage higher risk tolerance, and strengthen biases such as overconfidence and the dis-position effect. Ethical concerns, including misaligned incentives, potential behavioral manipulation, and weaker investor protection, highlight the need for responsible platform design and thoughtful regulatory oversight. Overall, the study contributes by connecting behavioral finance theory with gamification psychology, offering insights into the psychological mechanisms at play in digital investing. Future research should empirically test these hypotheses, investigate long-term investor outcomes, and develop ethical guidelines that balance engagement with responsible investing practices.
Opportunities and Challenges in Implementing Circular Economy within Digital Platforms Nolan Liam; Arthur Simanjuntak; Henry Newell; Wei Xiang Tan
International Transactions on Education Technology (ITEE) Vol. 3 No. 2 (2025): International Transactions on Education Technology (ITEE)
Publisher : Pandawan Sejahtera Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.33050/itee.v3i2.765

Abstract

The rapid advancement of digital platforms has opened new avenues for integrating circular economy practices, particularly in optimizing resource use, reducing waste, and fostering sustainable growth. This study aims to investigate both the opportunities and challenges that organizations encounter when implementing circular economy principles within digital environments, focusing on how these platforms can drive more sustainable operations. Adopting a mixed-methods approach, the research gathers quantitative data from digital platform users through surveys and qualitative insights from in-depth interviews with industry experts and business owners across various sectors. The findings indicate that digital platforms present significant opportunities for enhancing resource efficiency, promoting product life extension through recycling and reuse options, and enabling collaborative networks that support circular practices. However, substantial challenges are identified, including high initial investment costs, technical and regulatory barriers, and a lack of widespread digital literacy, especially among small and medium-sized enterprises. Additionally, the research highlights issues related to data privacy and technological compatibility, which can limit broader adoption and effective implementation of circular strategies. The study concludes that while digital platforms hold transformative potential for advancing circular economy goals, success depends on developing supportive policies, fostering collaborative ecosystems, and enhancing digital skills across industries to overcome these obstacles. This research provides valuable insights for policymakers, business leaders, and technology providers seeking to leverage digital tools in the shift toward a sustainable circular economy.