The Resource How much can financial literacy help?, Luigi Guiso and Eliana Viviano, (electronic resource)

How much can financial literacy help?, Luigi Guiso and Eliana Viviano, (electronic resource)

Label
How much can financial literacy help?
Title
How much can financial literacy help?
Statement of responsibility
Luigi Guiso and Eliana Viviano
Creator
Contributor
Author
Subject
Language
eng
Summary
We merge survey data on a sample of individual investors containing test-based measures of financial literacy with administrative records on their assets holding and trades before, during and after the financial crisis of September 2008. This dataset allows us to design three tests of the benefits of financial literacy by comparing the decisions actually taken by individuals with a dominated alternative. We find that high-literacy investors are better at timing the market, since conditional on exiting the stock market they are more likely to exit before rather than after the crash following the collapse of Lehman Brothers. High-literacy investors are also more likely to trade according to the prescriptions of normative models and to detect intermediaries' potential conflicts of interest. However, though statistically significant these effects are economically small. In fact, far too many investors, even among those with high literacy, tend to choose the dominated alternative along all dimensions of choice examined. This suggests that literacy may be a poor edge against financial mistakes
Member of
Cataloging source
GZM
http://library.link/vocab/creatorName
Guiso, Luigi
Illustrations
illustrations
Index
no index present
Literary form
non fiction
Nature of contents
  • dictionaries
  • bibliography
http://library.link/vocab/relatedWorkOrContributorName
  • Viviano, E.
  • Centre for Economic Policy Research (Great Britain)
Series statement
  • Discussion paper series,
  • Financial economics
Series volume
no. 9693
http://library.link/vocab/subjectName
  • Finance, Personal
  • Financial literacy
  • Households
  • Investments
  • Portfolio management
  • Asset allocation
Label
How much can financial literacy help?, Luigi Guiso and Eliana Viviano, (electronic resource)
Link
http://www.cepr.org.ezproxy.eui.eu/content/discussion-papers
Instantiates
Publication
Note
  • "October 2013."
  • "Submitted 08 October 2013."
Bibliography note
Includes bibliographical references (pages 17-19)
Carrier category
online resource
Carrier category code
cr
Carrier MARC source
rdacarrier.
Content category
text
Content type code
txt
Content type MARC source
rdacontent.
Control code
FIEb17469910
Extent
1 online resource (34 pages)
Form of item
online
Media category
computer
Media MARC source
rdamedia.
Media type code
c
Other physical details
illustrations.
Specific material designation
remote
System control number
(OCoLC)861226972
Label
How much can financial literacy help?, Luigi Guiso and Eliana Viviano, (electronic resource)
Link
http://www.cepr.org.ezproxy.eui.eu/content/discussion-papers
Publication
Note
  • "October 2013."
  • "Submitted 08 October 2013."
Bibliography note
Includes bibliographical references (pages 17-19)
Carrier category
online resource
Carrier category code
cr
Carrier MARC source
rdacarrier.
Content category
text
Content type code
txt
Content type MARC source
rdacontent.
Control code
FIEb17469910
Extent
1 online resource (34 pages)
Form of item
online
Media category
computer
Media MARC source
rdamedia.
Media type code
c
Other physical details
illustrations.
Specific material designation
remote
System control number
(OCoLC)861226972

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