Essays In Financial Literacy Decision Making
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Essays In Financial Literacy Decision Making
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Author : Jörg Weber
language : en
Publisher:
Release Date : 2015
Essays In Financial Literacy Decision Making written by Jörg Weber and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015 with Consumer behavior categories.
Essays On Financial Literacy Cognitive Ability And Financial Decision Making
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Author : Amelina Apricia Sjam
language : en
Publisher:
Release Date : 2021
Essays On Financial Literacy Cognitive Ability And Financial Decision Making written by Amelina Apricia Sjam and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021 with categories.
Financial Literacy Motivated Reasoning And Gender
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Author : Thérèse Lind
language : en
Publisher: Linköping University Electronic Press
Release Date : 2019-05-16
Financial Literacy Motivated Reasoning And Gender written by Thérèse Lind and has been published by Linköping University Electronic Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-05-16 with categories.
I wrote this thesis to create a better understanding of how individual characteristics influence our feelings, our behavior and our way of interpreting information. My focus is on financial behavior and financial information, however I also consider a political context. I investigate the (usually) enabling abilities of financial literacy and numeracy. I also consider impediments such as stereotype threat and motivated reasoning, which can prevent people from engaging in certain behaviors or from interpreting information objectively. Both processes stem from valued beliefs and psychological foundations, consequently peoples’ efforts, decisions, and evaluations are based on them. The first essay, “Competence, confidence, and gender: The role of perceived and actual financial literacy in household finance,” broadens our understanding of the benefits of financial competence. I contrast perceived and actual levels of financial literacy, and consider the role of numeracy and cognitive reflective ability. I conclude that perceived and actual levels of financial literacy positively affect behavior and wellbeing; however, perceived financial literacy more so than actual financial literacy. No such effect is observed for numeric ability and cognitive reflection. Furthermore, women are more anxious about financial matters even though they tend to engage more frequently in the considered financial behaviors. The second essay, “Threatening finance? Examining the gender gap in financial literacy,” continues my exploration of the relationship between gender and financial literacy. In a series of studies, I investigate whether the observed gender gap in financial literacy can be identified in nonnumerical contexts, if it can be associated with confidence in financial matters, and if it can be attributed to stereotype threat, which posits that inbuilt prejudices about gender and finance undermine women’s performance of tasks that involve finance. The results show that the observed gender gap in financial literacy is robust even in nonnumerical financial contexts and suggest that a stereotype threat for women in the financial domain might be present. The gender gap in financial literacy could not be attributed to a difference in (displayed) confidence. In the third essay, “Preferences for lump-sum over divided payment structures,” I investigate whether or not people display systematic preferences for lump–sum or divided payment structures and how these preferences differ in gain (benefit) and loss (payment) situations. I investigate what happens when payments belong to a single underlying event, such as when people can choose to pay immediately or in installments. I also examine whether or not individual differences in time preferences, risk preferences, numeracy, and financial literacy are associated with preferences for one payment structure or the other. The aggregate results show a tendency for people to prefer obtaining and paying money in lump sums. I find no systematic indication that the considered individual differences play a role in this type of decision. The fourth essay, “Motivated reasoning when assessing the effect of refugee intake,” inquires into differences in worldview ideology, whether people identify as nationally or globally oriented, hinder them from objectively interpreting information. I use an experiment to find out if people display motivated reasoning when interpreting numerical information about the effects of refugees on the crime rate. Our results show evidence of motivated reasoning along the lines of worldview ideology. However, individuals with higher numeric ability were less likely to engage in motivated reasoning, leading to the conclusion that motivated reasoning is more likely to be driven by feelings and emotional cues than by deliberate analytical processes.
Essays On Financial Decision Making
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Author : Thomas Spycher
language : en
Publisher:
Release Date : 2019
Essays On Financial Decision Making written by Thomas Spycher and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019 with categories.
This thesis contains four essays on financial decision making. The first two essays examine the influence of cultural group membership on the accumulation of financial literacy and on intertemporal choice. The chapters exploit the Swiss language border as a natural laboratory to study the influence of culture and document substantial differences in behavior based on a self-collected survey dataset of 15-year olds living along the language border in the canton of Fribourg. An analysis of underlying channels suggests that observed differences in financial literacy and intertemporal choice are rather related to systematic differences in social norms than to differences in time and risk preferences. The third essay investigates the influence of an extended cooling-off period for personal loans. A cooling-off period grants a borrower the right to withdraw from a signed credit contract. Cooling-off periods are a commonly used tool for consumer financial protection, but little empirical evidence exists on its use and how changes in its duration affect consumer behavior. Based on a large sample of loan offers in Switzerland, I document that cooling-off periods are rarely used. Less than 0.6\% of accepted loan offers are withdrawn by the borrower. The extension of the period from 7 to 14 days did not increase the propensity to make use of the right to withdraw but rather increased the cost of regulation as credit providers disburse loans only after the cooling-off period. The last essay examines how the numeracy level of employees is related to the quality of their on-the-job decisions. Employers place significant weight on the numerical skills of employees and the level of numeracy is associated with labor market outcomes. Based on an administrative dataset of a retail bank the study relates the performance of loan officers in a standardized math test to the accuracy of their credit assessments of small business borrowers. Results sug.
Financial Literacy Cognitive Abilities And Long Term Decision Making
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Author : Tabea Bucher-Koenen
language : en
Publisher:
Release Date : 2010
Financial Literacy Cognitive Abilities And Long Term Decision Making written by Tabea Bucher-Koenen and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010 with categories.
Financial Literacy Cognitive Abilites And Long Term Decision Making
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Author : Tabea Bucher-Koenen
language : en
Publisher:
Release Date : 2010
Financial Literacy Cognitive Abilites And Long Term Decision Making written by Tabea Bucher-Koenen and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010 with categories.
Household Financial Choice
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Author : Michael S. Finke
language : en
Publisher:
Release Date : 2011
Household Financial Choice written by Michael S. Finke and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011 with Electronic Dissertations categories.
This dissertation examines household characteristics the impact financial decision making. The first essay explores the role of cognitive ability in numeracy, risk tolerance, credit decisions, wealth and retirement savings and asset allocation and finds that cognitive ability is an important predictor of financial decisions. The second essay develops a new instrument to measure time discounting and models asset accumulation and asset allocation and finds that a factor score of intertemporal behaviors is significantly related to both asset accumulation and asset allocation. The third essay documents the decline in basic financial knowledge among households over 60 using a new financial literacy instrument developed to more accurately capture a household's ability to make effective balance sheet, credit, investment, and insurance choices.
Two Essays In Finance
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Author : Colleen Tokar Asaad
language : en
Publisher:
Release Date : 2013
Two Essays In Finance written by Colleen Tokar Asaad and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013 with Corporations categories.
This dissertation examines two inter-related topics in finance: Cultural Finance and Behavioral Finance. Both Cultural Finance and Behavioral Finance assume that humans are boundedly rational or irrational, thus rejecting traditional or neoclassical notions of pure rationality. Specifically, this dissertation considers how the values and attitudes of nations influence financial decision-making of countries and companies (Cultural Finance) and how cognitive and social factors influence the financial decision-making of households and individuals (Behavioral Finance).
Essays On The Economics Of Tobacco Harm Reduction And On Financial Literacy And Retirement Decision Making
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Author : Jennifer Anne Maki
language : en
Publisher:
Release Date : 2013
Essays On The Economics Of Tobacco Harm Reduction And On Financial Literacy And Retirement Decision Making written by Jennifer Anne Maki and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013 with categories.
Essays In Financial Literacy And Financial Behaviors
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Author : Majdi Debbich
language : en
Publisher:
Release Date : 2015
Essays In Financial Literacy And Financial Behaviors written by Majdi Debbich and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015 with categories.
In the recent years, households have been facing a process of increasing financial responsibility given a globa trend of pension systems privatization, loan markets liberalization and credit expansion. Meanwhile the supply of financial products has become more complex. In this context, do people have the ability to process economic and financial information and take sound decisions in terms of financial planning, wealth accumulation, debt and pensions? What remedies can be considered so as to mitigate the adverse effects of poorly informed financial decisions? This thesis contributes to answering both questions through an empirical assessment of financial literacy in the French population and its relationship with financial behaviors but also through a study of the determinants of financial literacy over the life course and potential remedies to financial illiteracy. I report evidence that financial literacy levels in France appear to be in the international average with heterogeneous levels across population subgroups: men, educated, middle-age as well as wealthy respondents tend to perform better. I also show that financial literacy can have an influence on financial behaviors by fostering participation to the stock market and financial planning in the long-run. I question the role of financial advisor as potential alternatives to financial education and show that these cannot substitute.