English
 
User Manual Privacy Policy Disclaimer Contact us
  Advanced SearchBrowse

Item

ITEM ACTIONSEXPORT
  Financial literacy, risk and time preferences – Results from a randomized educational intervention

Sutter, M., Weyland, M., Untertrifaller, A., & Froitzheim, M. (2020). Financial literacy, risk and time preferences – Results from a randomized educational intervention.

Item is

Basic

show hide
Item Permalink: http://hdl.handle.net/21.11116/0000-0006-CDA3-B Version Permalink: http://hdl.handle.net/21.11116/0000-0006-CDA4-A
Genre: Paper

Files

show Files

Locators

show
hide
Description:
-

Creators

show
hide
 Creators:
Sutter, Matthias1, Author              
Weyland, Michael, Author
Untertrifaller, Anna1, Author              
Froitzheim, Manuel1, Author              
Affiliations:
1Max Planck Institute for Research on Collective Goods, Max Planck Society, ou_2173688              

Content

show
hide
Free keywords: Financial literacy, randomized intervention, risk preferences, time preferences, field experiment
 JEL: C93 - Field Experiments
 JEL: D14 - Household Saving; Personal Finance
 JEL: I21 - Analysis of Education
 Abstract: We present the results of a randomized intervention in schools to study how teaching financial literacy affects risk and time preferences of adolescents. Following more than 600 adolescents, aged 16 years on average, over about half a year, we provide causal evidence that teaching financial literacy has significant short-term and longer-term effects on risk and time preferences. Compared to two different control treatments, we find that teaching financial literacy makes subjects more patient, less present-biased, and slightly more risk-averse. Our finding that the intervention changes economic preferences contributes to a better understanding of why financial literacy has been shown to correlate systematically with financial behavior in previous studies. We argue that the link between financial literacy and field behavior works through economic preferences. In our study, the latter are also related in a meaningful way to students’ field behavior.

Details

show
hide
Language(s):
 Dates: 2020-08-03
 Publication Status: Published online
 Pages: -
 Publishing info: Bonn : Max Planck Institute for Research on Collective Goods, Discussion Paper 2020/17
 Table of Contents: -
 Rev. Type: -
 Identifiers: Other: 2020/17
 Degree: -

Event

show

Legal Case

show

Project information

show

Source

show