Present bias is an important term in behavioral finance that is derived from the concept of self-control. Empirical research finds that present bias is associated with undesirable spending, borrowing, and saving behavior. Unlike previous research that focuses on one domain of financial behavior,...

Present bias is an important term in the theory of self‐control in behavioral finance. Empirical research finds that present bias is associated with undesirable spending, borrowing, and saving behaviors. Unlike previous research that focuses on one domain of financial behavior, the purpose of...

This chapter is to provide an overview of financial literacy in Asia, describe financial literacy education in Asian countries, and propose recommendations for policy makers. The chapter demonstrates that: 1) Financial literacy is an important factor contributing to consumer financial capability...

This study examines potential effects of overconfidence on financial advice usage. Financial literacy overconfidence is defined as the gap between consumers’ subjective and objective financial knowledge. Using a representative national survey, the result shows that over 11 percent of...