Individuals invest in Environmental-Social-Governance (ESG)-assets not only because of (higher) expected returns but also driven by ethical and social considerations. Less is known about ESG-conscious investor subjective beliefs about crypto-assets and how these compare to traditional assets....

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...

Why do some people make better financial decisions than others do? The level of financial literacy plays an important role: Quality schooling that also deals with financial issues likewise leads to better financial decisions. However, many studies neglect how parenting also influences financial...

Warum treffen manche Leute bessere finanzielle Entscheidungen als andere? Eine wichtige Rolle spielt dabei das Niveau der Finanzbildung. Eine gute Schulbildung, die sich auch mit wirtschaftlichen Fragestellungen auseinandersetzt, führt ebenfalls zu besseren Finanzentscheidungen. Viele Studien...

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...

Financial literacy predicts informed financial decisions, but what explains financial literacy? We use the concept of financial socialization and aim to represent three major agents of financial socialization: family, school and work. Thus we compile twelve relevant childhood characteristics in...

We study how and to what extent private households are affected by the recent financial crisis and how their financial decisions are influenced by this shock. Our analysis reveals that individuals with low levels of financial literacy are less likely to have invested in the stock market and thus...

Based on a sample of university students, we provide field and laboratory evidence that a small scale training intervention has both a statistically and economically significant effect on subjective and objective assessments of financial knowledge. We show also that the intervention increases...

Mit einem an der FAU durchgeführten Laborexperiment haben wir finanzielle Entscheidungen bei Risiko beziehungsweise Ambiguität analysiert. Wir haben die Anfälligkeit für irrationale Entscheidungen sowie den Zusammenhang zwischen finanzieller Bildung und mathematischen Fähigkeiten einerseits...

Over the life-cycle, wealth holdings tend to be highest in the early part of retirement. The quality of financial decisions among older adults is therefore an important determinant of their financial security during the asset drawdown phase. This paper assesses how financial literacy shapes...