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

Financial literacy - the ability to make informed decisions regarding money - plays a critical role in ensuring both the well-being of households and the stability of the financial system. Consequently, numerous private institutions, non-profit org...

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Main Authors:	Carpena, Fenella, Cole, Shawn, Shapiro, Jeremy, Zia, Bilal
Format:	Brief
Language:	English en_US
Published:	World Bank, Washington, DC 2017
Subjects:	financial literacy financial education access to finance financial counseling
Online Access:	http://documents.worldbank.org/curated/en/509541486539234677/The-ABCs-of-financial-education-experimental-evidence-on-attitudes-behavior-and-cognitive-biases http://hdl.handle.net/10986/26068

id	okr-10986-26068
recordtype	oai_dc
spelling	okr-10986-260682021-05-25T10:54:41Z The ABCs of Financial Education : Experimental Evidence on Attitudes, Behavior, and Cognitive Biases Carpena, Fenella Cole, Shawn Shapiro, Jeremy Zia, Bilal financial literacy financial education access to finance financial counseling Financial literacy - the ability to make informed decisions regarding money - plays a critical role in ensuring both the well-being of households and the stability of the financial system. Consequently, numerous private institutions, non-profit organizations, and governments have responded by implementing financial education programs. However, empirical evidence on the efficacy of such programs provides only mixed results, and little is known about which aspects of financial education initiatives successfully enhance financial behavior and financial outcomes. The authors combined financial education with cash incentives for learning, non-compulsory goal-setting, and personalized financial counseling services to study the attitudinal, behavioral, and cognitive constraints that can stymie the link between financial education and outcomes. 2017-02-14T17:33:03Z 2017-02-14T17:33:03Z 2017-02 Brief http://documents.worldbank.org/curated/en/509541486539234677/The-ABCs-of-financial-education-experimental-evidence-on-attitudes-behavior-and-cognitive-biases http://hdl.handle.net/10986/26068 English en_US Finance and PSD Impact;No. 40 CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank World Bank, Washington, DC Publications & Research Publications & Research :: Brief
repository_type	Digital Repository
institution_category	Foreign Institution
institution	Digital Repositories
building	World Bank Open Knowledge Repository
collection	World Bank
language	English en_US
topic	financial literacy financial education access to finance financial counseling
spellingShingle	financial literacy financial education access to finance financial counseling Carpena, Fenella Cole, Shawn Shapiro, Jeremy Zia, Bilal The ABCs of Financial Education : Experimental Evidence on Attitudes, Behavior, and Cognitive Biases
relation	Finance and PSD Impact;No. 40
description	Financial literacy - the ability to make informed decisions regarding money - plays a critical role in ensuring both the well-being of households and the stability of the financial system. Consequently, numerous private institutions, non-profit organizations, and governments have responded by implementing financial education programs. However, empirical evidence on the efficacy of such programs provides only mixed results, and little is known about which aspects of financial education initiatives successfully enhance financial behavior and financial outcomes. The authors combined financial education with cash incentives for learning, non-compulsory goal-setting, and personalized financial counseling services to study the attitudinal, behavioral, and cognitive constraints that can stymie the link between financial education and outcomes.
format	Brief
author	Carpena, Fenella Cole, Shawn Shapiro, Jeremy Zia, Bilal
author_facet	Carpena, Fenella Cole, Shawn Shapiro, Jeremy Zia, Bilal
author_sort	Carpena, Fenella
title	The ABCs of Financial Education : Experimental Evidence on Attitudes, Behavior, and Cognitive Biases
title_short	The ABCs of Financial Education : Experimental Evidence on Attitudes, Behavior, and Cognitive Biases
title_full	The ABCs of Financial Education : Experimental Evidence on Attitudes, Behavior, and Cognitive Biases
title_fullStr	The ABCs of Financial Education : Experimental Evidence on Attitudes, Behavior, and Cognitive Biases
title_full_unstemmed	The ABCs of Financial Education : Experimental Evidence on Attitudes, Behavior, and Cognitive Biases
title_sort	abcs of financial education : experimental evidence on attitudes, behavior, and cognitive biases
publisher	World Bank, Washington, DC
publishDate	2017
url	http://documents.worldbank.org/curated/en/509541486539234677/The-ABCs-of-financial-education-experimental-evidence-on-attitudes-behavior-and-cognitive-biases http://hdl.handle.net/10986/26068
_version_	1764460863393103872

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

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