Financial literacy, experimental preference measures and field behavior: A randomized educational intervention

Arbeitspapier

We present the results of a randomized intervention to study how teaching financial literacy to 16-year old high-school students affects their behavior in risk and time preference tasks. Compared to two different control treatments, we find that teaching financial literacy makes subjects behave more patiently, more time-consistent, and more risk-averse. These effects persist for up to almost 5 years after our intervention. Behavior in the risk and time preference tasks is related to financial behavior outside the lab, in particular spending patterns. This shows that teaching financial literacy affects economic decision-making which in turn is important for field behavior.

Angaben zum Objekt

• Sprache: Englisch

Verweise und Beziehungen

• Erschienen in: Series: Discussion Papers of the Max Planck Institute for Research on Collective Goods ; No. 2023/3

Klassifikation und Themen

• Klassifikation: Wirtschaft ; Field Experiments ; Household Saving; Personal Finance ; Analysis of Education
• Thema: Financial literacy ; randomized intervention ; risk preferences ; time preferences ; financial behavior ; field experiment

Beteiligte, Orts- und Zeitangaben

• Ereignis: Geistige Schöpfung
• (wer): Sutter, Matthias ; Weyland, Michael ; Untertrifaller, Anna ; Froitzheim, Manuel ; Schneider, Sebastian O.
• Ereignis: Veröffentlichung
• (wer): Max Planck Institute for Research on Collective Goods
• (wo): Bonn
• (wann): 2023

Weitere Informationen

• Handle: http://hdl.handle.net/10419/274061
• Letzte Aktualisierung: 10.03.2025, 11:42 MEZ