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Discounting financial literacy: Time preferences and participation in financial education programs

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  • Meier, Stephan
  • Sprenger, Charles D.

Abstract

Many policymakers and economists argue that financial literacy is key to financial well-being. But why do many individuals remain financially illiterate despite the benefits of being financially informed?

Suggested Citation

  • Meier, Stephan & Sprenger, Charles D., 2013. "Discounting financial literacy: Time preferences and participation in financial education programs," Journal of Economic Behavior & Organization, Elsevier, vol. 95(C), pages 159-174.
  • Handle: RePEc:eee:jeborg:v:95:y:2013:i:c:p:159-174
    DOI: 10.1016/j.jebo.2012.02.024
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    More about this item

    Keywords

    Financial literacy; Time preferences; Selection; Experiments;
    All these keywords.

    JEL classification:

    • D03 - Microeconomics - - General - - - Behavioral Microeconomics: Underlying Principles
    • D14 - Microeconomics - - Household Behavior - - - Household Saving; Personal Finance
    • D91 - Microeconomics - - Micro-Based Behavioral Economics - - - Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making
    • C93 - Mathematical and Quantitative Methods - - Design of Experiments - - - Field Experiments

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