{"title":"New Frontiers of Robo-Advising: Consumption, Saving, Debt Management, and Taxes","authors":"Francesco D’Acunto, Alberto G. Rossi","doi":"10.2139/ssrn.3778244","DOIUrl":null,"url":null,"abstract":"Traditional forms of robo-advice were targeted to help individuals make portfolio allocation decisions. Based on the balance-sheet view of households, the scope for robo-advising has been expanding to many other personal-finance choices, such as households' saving and consumption decisions, debt management, mortgage uptake, tax management, and lending. This chapter reviews existing research on these new functions of robo-advising with a special emphasis on the questions that are still open for researchers across several disciplines. We also discuss the attempts to optimize jointly all personal-finance decisions, which we label ``holistic robo-advisors.'' We conclude by assessing fruitful avenues for research and practice in finance, computer science, marketing, decision science, information systems, law, and sociology.","PeriodicalId":252294,"journal":{"name":"Household Financial Planning eJournal","volume":"62 1","pages":"0"},"PeriodicalIF":0.0000,"publicationDate":"2021-02-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"14","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Household Financial Planning eJournal","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.2139/ssrn.3778244","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"","JCRName":"","Score":null,"Total":0}
引用次数: 14
Abstract
Traditional forms of robo-advice were targeted to help individuals make portfolio allocation decisions. Based on the balance-sheet view of households, the scope for robo-advising has been expanding to many other personal-finance choices, such as households' saving and consumption decisions, debt management, mortgage uptake, tax management, and lending. This chapter reviews existing research on these new functions of robo-advising with a special emphasis on the questions that are still open for researchers across several disciplines. We also discuss the attempts to optimize jointly all personal-finance decisions, which we label ``holistic robo-advisors.'' We conclude by assessing fruitful avenues for research and practice in finance, computer science, marketing, decision science, information systems, law, and sociology.
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