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D'Acunto, Francesco; Rossi, Alberto - 2020

In this chapter, we first discuss the limitations of traditional financial advice, which led to the emergence of robo-advising. We then describe the main features of robo-advising and propose a taxonomy of robo-advisors based on four defining dimensions - personalization, discretion,...

Persistent link: https://www.econbiz.de/10012200345

The promises and pitfalls of robo-advising

D'Acunto, Francesco; Prabhala, Nagpurnanand R.; Rossi, … - 2018

We study a robo-advising portfolio optimizer that constructs tailored strategies based on investors' holdings and preferences. Adopters are similar to non-adopters in terms of demographics, but have more assets under management, trade more, and have higher risk-adjusted performance. The...

Persistent link: https://www.econbiz.de/10011795044

Financial education in schools : a meta-analysis of experimental studies

Kaiser, Tim; Menkhoff, Lukas - 2018

We study the literature on school financial education programs for children and youth via a quantitative meta-analysis of 37 (quasi-) experiments. We find that financial education treatment has, on average, a significant and sizeable impact on financial knowledge (+0.25 SD), similar to...

Persistent link: https://www.econbiz.de/10011941348

Financial literacy and financial education : an overview

Kaiser, Tim; Lusardi, Annamaria - 2024

This article provides a concise narrative overview of the rapidly growing empirical literature on financial literacy and financial education. We first discuss stylized facts on the demographic correlates of financial literacy. We next cover the evidence on the effects of financial literacy on...

Persistent link: https://www.econbiz.de/10014517964

The trader's pendulum : the 10 habits of highly successful traders

Samuels, Jody - 2015

Persistent link: https://www.econbiz.de/10011326349

Disposed to be overconfident

Gödker, Katrin; Odean, Terrance; Smeets, Paul - 2023

We show that the disposition effect-the tendency of investors to hold losers and sell winners-can be a source of overconfidence. We find experimental evidence that individuals update beliefs about their own investment ability based on realized gains and losses rather than the overall performance...

Persistent link: https://www.econbiz.de/10014251033

Uncertainty and hyperinflation : European inflation dynamics after World War I

López, José A.; Mitchener, Kris - 2018

Fiscal deficits, elevated debt-to-GDP ratios, and high inflation rates suggest hyperinflation could have potentially … pushing a subset of European countries into hyperinflation shortly after the end of the war. Germany, Austria, Poland, and … elevated economic uncertainty directly affected inflation dynamics and the incidence of hyperinflation during the interwar …

Persistent link: https://www.econbiz.de/10011855599

Unternehmenspolitik in der Kriegswirtschaft und in der Inflation : die Daimler-Motoren-Gesellschaft 1914 - 1923

Buschmann, Birgit - 1998

Persistent link: https://www.econbiz.de/10008729654

Does money illusion matter? : an experimental approach

Fehr, Ernst; Tyran, Jean-Robert - 1999

Money illusion means that people behave differently when the same objective situation is represented in nominal or in real terms. To examine the behavioral impact of money illusion we studied the adjustment process of nominal prices after a fully anticipated negative nominal shock in an...

Persistent link: https://www.econbiz.de/10009781679

Money illusion and coordination failure

Fehr, Ernst; Tyran, Jean-Robert - 2004

Economists long considered money illusion to be largely irrelevant. Here we show, however, that money illusion has powerful effects on equilibrium selection. If we represent payoffs in nominal terms, choices converge to the Pareto inefficient equilibrium; however, if we lift the veil of money by...

Persistent link: https://www.econbiz.de/10011402620

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