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Financial Education, Financial Competence, and Consumer Welfare
December 05, 2017Summary: Employers routinely attempt to address deficiencies in financial decision making among their employees by deploying educational interventions that are brief and laden with motivational rhetoric. The object of the rhetorical elements is to compensate for brevity by making the material… Read More »
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The Effect of Financial Education on the Quality of Decision Making
August 09, 2016Abstract: We introduce a method for measuring the quality of financial decision making built around a notion of financial competence, which gauges the alignment between individuals' choices and those they would make if they properly understood their opportunities. We use it to document the… Read More »
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The Effect of Financial Education on the Quality of Decision Making
June 29, 2015Abstract: We introduce the concept of financial competence, a measure of how closely individuals’ choices align with those they would make if they properly understood their opportunity sets. The concept is firmly rooted in the principles of choice-based behavioral welfare analysis and… Read More »
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FINANCIAL EDUCATION, FINANCIAL COMPETENCE, AND CONSUMER WELFARE
December 17, 2014Abstract: We introduce the concept of financial competence, a measure of the extent to which individuals’ financial choices align with those they would make if they properly understood their opportunity sets. Unlike existing measures of the quality of financial decision making,… Read More »
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The Role of the Private Sector in Financial Education: A View from the Teller’s Desk
November 14, 2012Watch the video.