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knowledge. In addition, they also need the cognitive skills to apply this knowledge, for example when it comes to the … calculation of the lifetime cost of household appliances or energy-efficient renovations. This set of knowledge and skills is …
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need for financial education in early stages of life that combines theoretical knowledge with confidence building measures. …
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We study the impact of financial literacy on financial risk preference. When financial literacy is measured jointly by actual and self-assessed scores, we find compelling evidence of a valley-shaped relationship between actual financial literacy and risk preference. At a given level of...
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