This study examines the role of actual and perceived financial sophistication (i.e., financial literacy and confidence) for individuals' wealth accumulation. Using survey data from the German SAVE initiative, we find strong gender- and education-related differences in the distribution of the two...

This document aims to standardize the research protocol among different researchers interested in measuring Financial Literacy with young students and their teachers. The basic contents are:- Methodological guidance - A core questionnaire designed to capture information about financial...

Household investment mistakes are an important concern for researchers and policymakers alike; portfolio underdiversification ranks among those mistakes that are potentially most costly. However, its roots and empirical importance are poorly understood. I estimate quantitatively meaningful...