The art of spending and recommendations in personal finance

Leonid Ivonin, Mark J Perry, Sriram Subramanian

Research output: Chapter in Book/Report/Conference proceedingConference Contribution (Conference Proceeding)

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Abstract

Happiness is one of the most important aspects of human lives, yet the literature on emotional well-being indicates that people often fail to correctly anticipate the hedonic consequences of future events. As a result, individuals end up being not as happy as they thought they would be. This phenomenon also applies to the domain of personal finance where people make bad decisions about purchases. In this paper, we identified a new opportunity for the research on recommender systems in personal finance and through analysis demonstrated that intelligent recommenders can help to minimize errors in affective forecasts and enhance happiness of people in the domain of consumption. Furthermore, we reviewed problems associated with design of such recommenders and proposed approaches to overcome them.

Original languageEnglish
Title of host publicationFINREC 2016 Personalization & Recommender Systems in Financial Services
Subtitle of host publicationProceedings of the 2nd International Workshop on Personalization & Recommender Systems in Financial Services, Bari, Italy, June 16, 2016
EditorsGiovanni Semeraro, Cataldo Musto, Mathias Bauer
PublisherCEUR-WS
Pages24-28
Number of pages5
Publication statusPublished - 18 Jun 2016
Event2nd International Workshop on Personalization and Recommender Systems in Financial Services, FINREC 2016 - Bari, Italy
Duration: 16 Jun 2016 → …

Publication series

NameCEUR Workshop Proceedings
PublisherCEUR-WS
Volume1606
ISSN (Print)1613-0073

Conference

Conference2nd International Workshop on Personalization and Recommender Systems in Financial Services, FINREC 2016
CountryItaly
CityBari
Period16/06/16 → …

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