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Previous research shows that many people seek financial advice from non-experts, and that peer interactions influence financial decisions. We investigate whether such influences are beneficial, harmful, or simply haphazard. In our laboratory experiment, face-to-face commu- nication with a...
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that market anomalies and financial literacy play in the decision making process. We first document the empirical evidence …. Furthermore, empirical evidence reveals that financial literacy moderates the association between behavioral biases and market … for the relationships between certain variables, our results highlight the importance of financial literacy in terms of …
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Building on cross-sectional data for Austrian high school students from fifth to twelfth grade, we investigate the correlations between socio-economic background variables and a comprehensive set of variables related to financial decision-making (i.e., financial knowledge, behavioral...
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