This RCT examines the effect of a new style finance training during which participants are given personalized feedback on their financial business outcomes in addition to a "rules-of-thumb" training approach. We compare this to the effects of a "rules-of-thumb" training by itself and to a...

This paper examines whether biased income expectations due to overconfidence lead to higher levels of debt-taking. In a lab experiment, participants can purchase goods by borrowing against their future income. We exogenously manipulate income expectations by letting income depend on relative...

Die finanzielle Inklusion von Geflüchteten ist ein entscheidender Baustein der Integration in die deutsche Gesellschaft. In diesem Bericht wird die finanzielle Inklusion einer Gruppe von 31 in Berlin lebenden syrischen Geflüchteten anhand von Befragungen untersucht. Offensichtlich funktioniert...

A number of studies show that there is a link between social comparison and high levels of household debt. However, the exact mechanisms behind this link are not yet well understood. In this paper, we perform a lab experiment designed to study the eff ects of social image concerns and peer...

For social and economic reasons, national economies benefit from the inclusion of as many people as possible in financial services. In a cross country study, the present study shows that financial literacy for the general population promotes financial inclusion. This relationship goes beyond the...

Moderne Gesellschaften profitieren aus sozialen und ökonomischen Gründen von der Teilhabe möglichst aller Menschen an finanziellen Dienstleistungen, das heißt von finanzieller Inklusion. Diese Studie zeigt in einem Ländervergleich, dass durch finanzielle Bildung der Bevölkerung die...

This paper analyzes the state and impact of financial literacy in a so far largely neglected group: the middle class in emerging economies. This group is of increasing importance for implementing structural change, including the proper use of sophisticated financial products. We survey middle...

This study examines the effect of two different finance trainings on business outcomes. The first training is based on a "rule-of-thumb" approach, teaching simple financial rules. The content of the second training is exactly the same but additionally provides personalized feedback on past...

While financial inclusion is typically addressed by improving the financial infrastructure we show that financial literacy, representing the demand-side of financial markets, also has a beneficial effect. We study this effect at the cross-country level, which allows to consider institutional...