Naïve advice in financial decision making: Hidden costs of a free offer
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References listed on IDEAS
- Annamaria Lusardi & Olivia Mitchell, 2007.
"Financial Literacy and Retirement Planning: New Evidence from the Rand American Life Panel,"
wp157, University of Michigan, Michigan Retirement Research Center.
- Lusardi, Annamaria & Mitchell, Olivia S., 2007. "Financial literacy and retirement planning: New evidence from the Rand American Life Panel," CFS Working Paper Series 2007/33, Center for Financial Studies (CFS).
- Urs Fischbacher, 2007. "z-Tree: Zurich toolbox for ready-made economic experiments," Experimental Economics, Springer;Economic Science Association, vol. 10(2), pages 171-178, June.
- Yaniv, Ilan, 2004. "Receiving other people's advice: Influence and benefit," Organizational Behavior and Human Decision Processes, Elsevier, vol. 93(1), pages 1-13, January.
- Gino, Francesca, 2008. "Do we listen to advice just because we paid for it? The impact of advice cost on its use," Organizational Behavior and Human Decision Processes, Elsevier, vol. 107(2), pages 234-245, November.
More about this item
KeywordsFinancial literacy; financial decision making; experiment; naïve advice;
- C91 - Mathematical and Quantitative Methods - - Design of Experiments - - - Laboratory, Individual Behavior
- G02 - Financial Economics - - General - - - Behavioral Finance: Underlying Principles
- D83 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Search; Learning; Information and Knowledge; Communication; Belief; Unawareness
NEP fieldsThis paper has been announced in the following NEP Reports:
- NEP-ALL-2016-12-11 (All new papers)
- NEP-EXP-2016-12-11 (Experimental Economics)
- NEP-PAY-2016-12-11 (Payment Systems & Financial Technology)
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