Influence of empathy in financial service industry

What is the purpose of this research?

The purpose of this research is to explore how empathy will influence people's behaviour in the financial service industry.

Are you looking for people like me?

You can take part in the study if you:

• are a QUT student
• are aged 18 years or older
• have no neural or cardiovascular health conditions that directly affect the heart or ANS/CNS
• are not taking medications which affect heart rate or CNS
• have had no prior heart surgery.

What will you ask me to do?

Participation will involve completing an investment game and a post-experiment questionnaire with heart rate watch and sensor. The whole experiment will take about 60 minutes.

1. You will meet the principal researcher on level 7, Z block, Gardens Point, QUT
2. You will receive a number ranging from 1 to 10, which will serve as your participant number in the study.
3. You will be asked to put on the chest sensor, and possibly also a watch corresponding to your participant number (the sensor should make direct contact with your skin; bathrooms are available for this purpose).
4. Once the sensor and either the watch or smartphone are paired, you will be directed to the desk that matches your participant number.
5. You will then sit quietly and rest for a period of 10 minutes.
6. Following the rest period, you will participate in an experiment where you will assume the role of either a salesperson or a client in the retail banking industry.
7. After the experiment concludes, you will be asked to complete a post-experiment questionnaire, which will mark the end of the session.
8. You will then sit quietly once more, resting for another 10 minutes.
9. Finally, you will return the devices to us and collect your financial compensation.

Examples of questions in the post-experiment questionnaire:

• How old are you?
• Do you have working experience in the financial industry?
• For each item, indicate how well it describes you by choosing the appropriate number appropriate letter on the scale at the top of the page: 1, 2, 3, 4, or 5.
  • When I see someone being taken advantage of, I feel kind of protective towards them.
  • When I'm upset at someone, I usually try to 'put myself in their shoes' for a while.

Your participation in this research project is entirely voluntary. If you do agree to participate you can withdraw from the research project during your participation without comment or penalty.

You will be also given a practice session so that you can fully understand the investment game, which will relate to your output.

Abstinence schedule

As it is an experiment involving heart rate, follow the abstinence schedule:

• alcohol - 24 hours before the experiment
• caffeine - 12 hours before the experiment
• high/vigorous exercise - 24 hours before the experiment.

Are there any risks for me in taking part?

There are no risks beyond normal day-to-day living associated with your participation in this research project.

If you feel stressed during the experiment or have a negative experience with financial planning, we advise you not to participate.

During the experiment, if at any point you feel uncomfortable, you can stop your participation and seek support from QUT counselling services (+61 3138 2019). The QUT counselling service is free for this type of research.

Are there any benefits for me in taking part?

It is expected that this research project will not directly benefit you.

Will I be compensated for my time?

Every participant who completes the experiment receives the following payment:

• Everyone who completes the experiment will receive a payment of $18.
• Depending on your performance in the investment game, there will also be a performance payment (up to $14) added.
• The average total payment is $24.

You will receive your total payment in cash once the session is finished.

I am interested - what should I do next?

Contact the principal researcher Tony Li via email t28.li@hdr.qut.edu.au for more details.