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Financial education or incentivizing learning-by-doing? : evidence from an RCT with undergraduate students

Oberrauch, Luis; Kaiser, Tim - 2024

We study the effects of digital financial education interventions on undergraduate students’ financial knowledge in a … video treatment enhanced financial knowledge scores by more than 0.5 standard deviations. Conversely, the vouchers showed no …

Persistent link: https://www.econbiz.de/10014576837

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

Mandatory participation in occupational pension schemes in the Netherlands and other countries

Chen, Damiaan H. J.; Beetsma, Roel - 2014

This paper discusses mandatory participation in Dutch occupational pension schemes. While mandatory participation is a historical feature of most second-pillar pension arrangements, some recent developments may affect the case for mandatory participation. The main ones are the revision of the...

Persistent link: https://www.econbiz.de/10010234527

Why mandate young borrowers to contribute to their retirement accounts?

Andersen, Torben M.; Bhattacharya, Joydeep - 2017

Many countries, in an effort to address the problem that too many retirees have too little saved up, impose mandatory contributions into retirement accounts, that too, in an age-independent manner. This is puzzling because such funded pension schemes effectively mandate the young, who wish to...

Persistent link: https://www.econbiz.de/10011688004

The role of the annuity's value on the decision (not) to annuitize : evidence from a large policy change

Bütler, Monika (contributor); Staubli, Stefan (contributor) - 2008

This paper presents new evidence on how the annuitization decision is affected by changes in the annuity's value. We take advantage of an unprecendented change in policy, which in 2004 moderated the super-mandatory Swiss occupational pension scheme: The 20 percent reduction in the rate at which...

Persistent link: https://www.econbiz.de/10003749467

The standard portfolio choice problem in Germany

Huck, Steffen; Schmidt, Tobias; Weizsäcker, Georg - 2015

We study an investment experiment conducted with a representative sample of German households. Respondents invest in a safe asset and a risky asset whose return is tied to the German stock market. Experimental investments correlate with beliefs about stock market returns and exhibit desirable...

Persistent link: https://www.econbiz.de/10011298558

Robo-advising

D'Acunto, Francesco; Rossi, Alberto G. - 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

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

Kaiser, Tim; Menkhoff, Lukas - 2018

on financial knowledge (+0.25 SD), similar to educational interventions in other domains. Additionally, we document small …

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

Pension information and women's awareness

Angelici, Marta; Del Boca, Daniela; Oggero, Noemi; … - 2020

We explore the role of financial and pension information in increasing women's knowledge and awareness of their future … were interviewed to assess their knowledge about pensions and financial issues and about their own savings and personal … wealth planned for retirement. The responses showed that their knowledge and awareness of retirement planning was limited. We …

Persistent link: https://www.econbiz.de/10012288024