admin

Francisco Pitthan and Kristof De Witte Abstract: Financial illiteracy affects considerably the decision-making of individuals, leading to sub-optimal outcomes and lower financial welfare in the society. Although financial education has been demonstrated to improve financial knowledge, evidence of long-term effects is limited. This could be due to the presence of cognitive biases such as myopia, …

Improving Financial Literacy by Mitigating Behavioural Biases: A Causal Mediation Analysis on the Effects of Behavioural-Based Financial Education Read More »

Francesco D’Acunto, Alberto G. Rossi, and Michael Weber Abstract: Consumers might overestimate optimal spending if forming beliefs based on others’ spending, because others’ conspicuous consumption is more visible than the rest of their consumption. If true, information about others’ overall spending should change beliefs and choice. For a test, we provide crowdsourced information about anonymous …

Crowdsourcing Peer Information to Change Spending Behavior Read More »