Jozi-Gamble: A Serious Game for Measuring Loss Aversion

The preference of a person for avoiding financial losses over receiving equivalent gains is known as loss aversion. There is limited knowledge of how loss aversion may be measured using serious games. This study introduced Jozi-Gamble, a serious game designed to measure the level of an individual’s financial loss aversion. The game takes place in three different immersive 3D environments, reflecting three economic classes of neighborhoods in Johannesburg, South Africa. In Jozi-Gamble, players get to explore different immersive environments, drive cars to locations of the next mission (similar to scenes from Grand Theft Auto or GTA), take on gambling activities (using virtual money) with varying probabilistic outcomes that are computed using random numbers, bet and proceed within the game with the consequences of their decisions, and earn points. The loss aversion of each player is computed in the background of the game, hence, making Jozi-Gamble a data collection tool. The evaluation of Jozi-Gamble revealed that it is easy to play, interesting, and user-friendly. Furthermore, the playability data from the Jozi-Gamble was analysed, and inferences on how Jozi-Gamble can be used to estimate loss aversion were presented.