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Two competing explanations for why consumers have trouble with financial decisions are gaining momentum. One is that people are financially illiterate since they lack understanding of simple economic concepts and cannot carry out computations such as computing compound interest, which could cause More information...
Audience: Researcher
Type of Resource: Working paper
Tags: Behavioral economics, Financial literacy, financial education
Date: 10/1/2010
Two competing explanations for why consumers have trouble with financial decisions are gaining momentum. One is that people are financially illiterate since they lack understanding of simple economic concepts and cannot carry out computations such as computing compound interest, which could cause More information...
Audience: Researcher
Type of Resource: Working paper
Date: 10/1/2010
This paper uses data from the Health and Retirement Study to explore the mechanism that underlies the robust relation found in the literature between cognitive ability, and in particular numeracy, and wealth, income constant. We have a number of findings. First, the more valuable the pension, the More information...
Audience: Researcher
Type of Resource: Working paper
Tags: Financial literacy, Financial Education, Pensions
Date: 9/1/2010
This paper uses data from the Health and Retirement Study to explore the mechanism that underlies the robust relation found in the literature between cognitive ability, and in particular numeracy, and wealth, income constant. We have a number of findings. First, the more valuable the pension, the More information...
Audience: Researcher
Type of Resource: Working paper
Date: 9/1/2010
This paper analyzes new data on financial literacy and financial sophistication from the 2008 Health and Retirement Study. We show that financial literacy is lacking among older individuals and for the first time explore additional questions on financial sophistication which proves even scarcer. More information...
Audience: Researcher
Type of Resource: Working paper
Tags: Financial literacy
Date: 9/1/2009
This paper analyzes new data on financial literacy and financial sophistication from the 2008 Health and Retirement Study. We show that financial literacy is lacking among older individuals and for the first time explore additional questions on financial sophistication which proves even scarcer. More information...
Audience: Researcher
Type of Resource: Working paper
Date: 9/1/2009