Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/168188
Authors: 
Bannier, Christina E.
Schwarz, Milena
Year of Publication: 
2017
Series/Report no.: 
Beiträge zur Jahrestagung des Vereins für Socialpolitik 2017: Alternative Geld- und Finanzarchitekturen - Session: Behavioral Finance G16-V2
Abstract: 
We find strong gender- and education-related differences in the distribution of actual and perceived financial sophistication: Whereas financial literacy rises in formal education, confidence increases in education for men but decreases for women. We show that the financial decisions of highly-educated men benefit strongly from this excess confidence, while the underconfidence of highly-educated women, in contrast, impairs their long-term financial planning.
JEL: 
D91
G11
D83
J26
Document Type: 
Conference Paper

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