The ABCs of Financial Education : Experimental Evidence on Attitudes, Behavior, and Cognitive Biases

This paper uses a large scale field experiment in India to study attitudinal, behavioral, and cognitive constraints that stymie the link between financial education and financial outcomes. The study complements financial education with (i) particip...

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Bibliographic Details
Main Authors:	Carpena, Fenella, Cole, Shawn, Shapiro, Jeremy, Zia, Bilal
Format:	Working Paper
Language:	English en_US
Published:	World Bank, Washington, DC 2015
Subjects:	FINANCIAL EDUCATION IN SCHOOLS DEPOSIT FINANCIAL SERVICES BORROWER DURABLE GOODS CREDIT CARDS ATM CARDS ACCOUNTING CHECKS FINANCIAL DECISIONS DEPOSITS BEHAVIORAL EFFECT BEHAVIORAL ECONOMICS EDUCATION PROGRAM CALCULATION GOAL SETTING FINANCIAL MANAGEMENT INCOME INTEREST LIFE INSURANCE FINANCIAL MATTERS CONTRIBUTION FINANCIAL LITERACY SAVINGS BEHAVIOR SAVINGS ACCOUNTS INTEREST RATE RESOURCE MANAGEMENT SPENDING DISCOUNT RATE PURCHASES FINANCIAL EDUCATION COURSES INFORMATION BANK ACCOUNT COMPUTATIONAL SKILLS HEALTH INSURANCE REPAYMENTS CALCULATIONS FINANCIAL GOAL SETTING WELFARE LOAN FINANCIAL GOALS KNOWLEDGE TEST DIRECT DEPOSIT CLASSROOM SESSIONS FINANCIAL BEHAVIOR FINANCIAL EDUCATION WORKSHOP TRAINING PROGRAMS CREDIT CARD BUDGETING SAVINGS PROGRAM SAVING RENTS BUDGET LITERACY KNOWLEDGE FINANCIAL CONCEPTS SAVINGS MATHEMATICS BANKING PRODUCTS SAVINGS GOAL CONSUMER DEBT TRAINING LOW- INCOME FINANCIAL COUNSELOR RESERVE BANK MONEY TAKE-UP RATES FINANCIAL ADVICE PROBABILITY FINANCES SAVING BEHAVIOR INTEREST RATES SECONDARY SCHOOL MARKETING DEBT FINANCIAL LITERACY TRAINING HOUSEHOLD INCOME FINANCIAL PRODUCTS FINANCIAL HABITS FINANCIAL TRAINING POSITIVE FINANCIAL OUTCOMES LOANS FINANCIAL GOAL FINANCIAL SYSTEM INSURANCE POLICY FINANCE LOAN TERMS SAVINGS ACCOUNT FINANCIAL COUNSELORS FINANCIAL LEARNING COMPUTATIONAL SKILL CONSUMER MONETARY INCENTIVES EXPENSES FINANCIAL EDUCATION PROGRAMS BEST PRACTICES CONSUMER RESEARCH FINANCIAL CRISIS FINANCIAL EDUCATION PROGRAM BANK CREDIT BUDGETS DEMAND FINANCIAL DECISION KNOWLEDGE TESTS WORKSHOP FINANCIAL EDUCATION REPAYMENT CONSUMERS PAMPHLETS LOW-INCOME MONTHLY INCOME CURRICULUM MONETARY INCENTIVE BUSINESS SCHOOL HOUSEHOLD SAVINGS DISCOUNT RATES INSURANCE FINANCIAL OUTCOMES PAYMENT AMOUNT EDUCATION PROGRAMS PURCHASE EDUCATION COLLEGE FRESHMEN MINIMUM PAYMENT ATM TRAINING PROGRAM FINANCIAL ACTIONS DEBT REPAYMENTS HOUSEHOLD BORROWING PERSONAL SAVINGS STUDENTS INVESTMENTS BORROWING DEBT REPAYMENT FINANCIAL KNOWLEDGE FINANCIAL CONSEQUENCES RISK AVERSION INHERITANCE CREDIT CARD PAYMENT HIGH SCHOOL STUDENTS FINANCIAL SECTOR VALUE OF MONEY FINANCIAL EDUCATION COURSE RESEARCH ASSISTANCE FINANCIAL INCENTIVES INDIVIDUAL COUNSELING EMPLOYEE SAVING
Online Access:	http://documents.worldbank.org/curated/en/2015/09/25050693/abcs-financial-education-experimental-evidence-attitudes-behavior-cognitive-biases http://hdl.handle.net/10986/22669

Internet

http://documents.worldbank.org/curated/en/2015/09/25050693/abcs-financial-education-experimental-evidence-attitudes-behavior-cognitive-biases
http://hdl.handle.net/10986/22669

The ABCs of Financial Education : Experimental Evidence on Attitudes, Behavior, and Cognitive Biases

Internet

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