Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/312571 
Year of Publication: 
2024
Series/Report no.: 
ZEW Discussion Papers No. 24-083
Publisher: 
ZEW - Leibniz-Zentrum für Europäische Wirtschaftsforschung, Mannheim
Abstract: 
Women are less likely to correctly answer the "Big-3" financial literacy questions, and a substantial share of the gap reflects women's lower confidence. In our experiment, women are more likely to choose "do not know" or refuse to answer financial literacy questions. If these options are not available, the gender gap decreases substantially. We build on the method proposed by Bucher-Koenen et al. (2021) and provide an easy-to-implement survey design applicable in cross-sectional studies that allows us to disentangle financial knowledge and confidence. We find that both financial knowledge and confidence are related to participation in the stock market.
Subjects: 
financial knowledge
gender gap
financial decision making
measurement error
survey methodology
JEL: 
G53
C81
D14
D91
Document Type: 
Working Paper

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