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Promoting financial literacy among the elderly: Consequences on confidence

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  • Bucciol, Alessandro
  • Quercia, Simone
  • Sconti, Alessia

Abstract

Financial literacy is a crucial skill for personal wealth management and economic well-being. Hence, it is important to evaluate the impact of interventions aimed at increasing financial knowledge and confidence in the most vulnerable groups of the society. We conduct an impact evaluation of a two-hour lecture targeting the elderly population. We find that the intervention does not have a significant impact on knowledge but has a significant effect on confidence and (partly) on overconfidence.

Suggested Citation

  • Bucciol, Alessandro & Quercia, Simone & Sconti, Alessia, 2021. "Promoting financial literacy among the elderly: Consequences on confidence," Journal of Economic Psychology, Elsevier, vol. 87(C).
    • Handle: RePEc:eee:joepsy:v:87:y:2021:i:c:s016748702100060x
    DOI: 10.1016/j.joep.2021.102428
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    Cited by:

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    4. Gallo, Giovanni & Sconti, Alessia, 2023. "How much financial literacy matters? A simulation of potential influences on inequality levels," GLO Discussion Paper Series 1266, Global Labor Organization (GLO).
    5. Cascavilla, Alessandro, 2024. "Between money and speculative asset: The role of financial literacy on the perception towards Bitcoin in Italy," Journal of Economic Psychology, Elsevier, vol. 102(C).

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    More about this item

    Keywords

    Financial literacy; Knowledge; Confidence; Overconfidence;
    All these keywords.

    JEL classification:

    • G53 - Financial Economics - - Household Finance - - - Financial Literacy
    • D13 - Microeconomics - - Household Behavior - - - Household Production and Intrahouse Allocation
    • D91 - Microeconomics - - Micro-Based Behavioral Economics - - - Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making

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