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The Gender Gap in Financial Literacy—The Role of Response Behavior

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  • Lucy Haag
  • Luis Oberrauch
  • Taiga Brahm

Abstract

The gender gap in financial literacy favoring men is a well‐documented phenomenon. Research reveals that women more frequently opt for the “do not know” (DK) response option than men. As the gender gap in financial literacy is evident at a young age and should be counteracted early, we focus on a sample of German adolescents (N = 1958) and investigate which factors are relevant for the decision to select the DK option. Applying regression and decomposition analyses, our study results confirm a substantial gender gap both in financial literacy scores and in the tendency to choose DK. If respondents are not offered a DK option, the gender gap significantly decreases. The decision to select DK can be partly explained by girls' lower math scores and less interest in economics. Our results contribute to the literature by examining factors associated with picking DK in a young sample, offering policy implications regarding targeted programs.

Suggested Citation

  • Lucy Haag & Luis Oberrauch & Taiga Brahm, 2026. "The Gender Gap in Financial Literacy—The Role of Response Behavior," Journal of Consumer Affairs, Wiley Blackwell, vol. 60(2), June.
    • Handle: RePEc:bla:jconsa:v:60:y:2026:i:2:n:e70045
    DOI: 10.1111/joca.70045
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