The effect of financial education on students' consumer choices: Evidence from a randomized experiment
| Autor: | Geert Van Campenhout, Kenneth De Beckker, Kristof De Witte |
|---|---|
| Přispěvatelé: | Maastricht Graduate School of Governance, RS: GSBE MGSoG |
| Jazyk: | angličtina |
| Rok vydání: | 2021 |
| Předmět: |
Organizational Behavior and Human Resource Management
Economics and Econometrics IMPACT 050204 development studies media_common.quotation_subject Education and Inequality Promotion (rank) i24 - Education and Inequality 0502 economics and business ComputingMilieux_COMPUTERSANDEDUCATION Quality (business) Analysis of Education Product (category theory) 050207 economics Consumer behaviour media_common Finance business.industry 05 social sciences LITERACY Payment Consumer behavior Discrete choice experiment Order (business) Randomized controlled trial Cash Financial education Financial literacy business i21 - Analysis of Education |
| Zdroj: | Journal of Economic Behavior & Organization, 188, 962-976. Elsevier Science |
| ISSN: | 0167-2681 |
| DOI: | 10.1016/j.jebo.2021.06.022 |
| Popis: | Financial education is often considered to be a necessary condition in order to stimulate better consumer choices. We investigate this claim by analyzing the impact of a financial education course on consumer choices made by 688 students of the 8th and 9th grade. We combine a randomized controlled trial with a discrete choice experiment to analyze how financial education and other critical factors of a purchase decision like price, credit availability, information on product quality, and promotion affect consumer decisions at a young age. We find that students favor purchase options with free gifts and positive consumer reviews. They also prefer cash payments over credit. However, we do not find evidence that this behavior is triggered by financial education. Financial education does not automatically result in better consumer choices, even if the financial education course increased students' financial literacy. |
| Databáze: | OpenAIRE |
| Externí odkaz: |
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