IDEAS home Printed from https://ideas.repec.org/p/xrs/sfbmaa/08-23.html
   My bibliography  Save this paper

Financial Literacy und Anlegerverhalten

Author

Listed:
  • Glaser, Markus

    () (Sonderforschungsbereich 504)

  • Weber, Martin

    () (Lehrstuhl für ABWL, Finanzwirtschaft, insb. Bankbetriebslehre)

Abstract

Increasingly, individuals are in charge of their own financial security and are confronted with complex financial instruments. Individuals are supposed, by numerous reforms launched in particular over the last decade, to ever more provide on their own for their protection against potential mishaps or vulnerabilities. However, there is evidence that many individuals are not well-equipped to make sound saving decisions. The required level of financial literacy, enabling consumers to face those tasks, however, appears to be lacking. In this survey article, we focus on the link between financial literacy and investor behavior. We first discuss typical biases in investor behavior. We then show how financial literacy is measured in the literature. In a final step, we present studies which analyze whether a higher degree of financial literacy improves decisions. We thereby also discuss related fields of literature which deal with the effects of expertise and financial advice.

Suggested Citation

  • Glaser, Markus & Weber, Martin, 2008. "Financial Literacy und Anlegerverhalten," Sonderforschungsbereich 504 Publications 08-23, Sonderforschungsbereich 504, Universität Mannheim;Sonderforschungsbereich 504, University of Mannheim.
  • Handle: RePEc:xrs:sfbmaa:08-23
    Note: Financial support from the Deutsche Forschungsgemeinschaft, SFB 504, at the University of Mannheim, is gratefully acknowledged.
    as

    Download full text from publisher

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a search for a similarly titled item that would be available.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:xrs:sfbmaa:08-23. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Carsten Schmidt). General contact details of provider: http://edirc.repec.org/data/sfmande.html .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.