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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
Drawing on a comprehensive review of academic journal articles, the report reviews patterns of investor behavior that may be suboptimal and factors that may lead to such patterns. role of behavioral finance from the perspective of prospect theory, overconfidence and human sentiment, as well as More information...
Audience: Researcher
Type of Resource: Report
Tags: Behavioral Economics
Date: 8/1/2010
This paper examines responses from a survey of 2,000 randomly selected mutual fund investors who purchased shares from six different distribution channels. The survey provides data on the demographic, financial, and fund ownership characteristics of mutual fund investors. It also provides data on More information...
Audience: Researcher
Type of Resource: Peer-reviewed
Tags: Mutual funds, Financial literacy, education
Date: 3/4/2013
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 annotated bibliography provides 52 abstracts of a representative sample of scholarly articles on the subject of the behavioral characteristics of U.S. investors, along with a glossary defining 72 terms commonly used in the literature on this topic. The researcher conducted searches in JSTOR, More information...
Audience: Researcher
Type of Resource: Literature review
Tags: Behavioral Economics
Date: 8/1/2010
This study used the 1992–2006 waves of the Health and Retirement Study (HRS) to investigate changes in risk tolerance levels over time in response to stock market returns. Findings indicate that risk tolerance tends to increase when market returns increase and decrease when market returns decrease. More information...
Audience: Researcher
Type of Resource: Peer-reviewed
Tags: Risk tolerance, Stocks
Date: 9/2/2010
In 2008, the SEC commissioned a survey to evaluate "plain English" rules approved in 1998 with the goal of making mandated disclosures simpler, clearer and more useuful. Abt SBRI conducted the telephone survey on a national sample of 1000 adults who invested in stocks, bonds and/or mutual funds More information...
Audience: Researcher
Type of Resource: Report
Tags: Disclosure
Date: 7/30/2008
In consultation with the U.S. Department of the Treasury and President Bush's Advisory Council on Financial Literacy, the FINRA Investor Education Foundation commissioned the first national study of the financial capability of American adults in 2009. The overarching research objectives of the More information...
Audience: Individual Researcher
Type of Resource: Website
Date: 5/29/2013
Economic studies on households’ financial asset ownership and allocation have discussed the relationship between asset holdings and socioeconomic variables. The current research on asset ownership has been conducted with data from the country of China utilizing a random sample of 2080 Chinese More information...
Audience: Researcher
Type of Resource: Working paper
Tags: China
Date: 3/4/2013
The importance of investment portfolio allocation has become more apparent since the onset of the late 2000s Great Recession. Individual willingness to take financial risks affects portfolio decisions and investment returns among other factors. Previous research found that people of different ages More information...
Audience: Researcher
Type of Resource: Peer-reviewed
Tags: Risk tolerance
Date: 3/4/2013