This study proposes a new “two-factor” risk preference metric and assesses its effectiveness in predicting financial satisfaction under two risk domains: investment market risk and credit card risk. The factors in our two-factor assessment are risk tolerance and financial self-efficacy...

This study proposes a new “two‐factor” risk preference metric and assesses its effectiveness in predicting financial satisfaction under two risk domains: investment market risk and credit card risk. The factors in our two‐factor assessment are risk tolerance and financial self‐efficacy...

This study investigates how Americans used their CARES Act Economic Impact Payments (EIP) for their spending needs, spending wants, and financial transactions. The results from a sample of 1,172 Amazon MTurk users collected in July 2020 suggest that EIP use varied across spending and financial...

Using nationally representative data from the 2021 National Financial Capability Study (NFCS), this study investigates the association between human capital, as proxied through education and financial knowledge, and stimulus payment usage for debt repayment, savings, and investments during the...

This paper identifies the effect a perceived up-front cost has on subsequent risky choice of older Americans. When respondents are faced with outcome alternatives framed in an up-front cost and no up-front cost domain, we observe variation in the respondents' required outcomes based on the order...