Laura Hospido, Nagore Iriberri, and Margarita Machelett
Abstract: Women are consistently more likely to respond ”I do not know” (IDK) to financial questions, a behavior that might reflect confidence, risk attitudes or other tendencies rather than knowledge gaps. Using a randomized experiment with 6,000 adults in Spain, we test whether this behavioral pattern can be shifted and how it shapes financial literacy by removing the IDK, providing monetary incentives or an informational nudge. All interventions reduce IDK response, revealing this behavior is not purely knowledge-driven. Only the information, however, narrows gender differences in both, response behavior and financial literacy.