ORCID: https://orcid.org/0000-0003-2460-619X
(2014):
The Impact of Financial Education on Adolescents' Intertemporal Choices.
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Abstract
We examine the impact of a large high-school financial education program on the intertemporal choices of adolescents. We randomly assigned the program among a sample of almost 1,000 students and measured their intertemporal choices using an incentivized experiment. While intertemporal choices in the control group exhibit significant present bias, choices among treated students are time consistent on average. We structurally estimate individual preference parameters, explicitly allowing choices to be stochastic. Participation in the program increases time consistency and decreases error rates. These findings suggest that financial education can have significant effects on intertemporal choice already at a young age.
Item Type: | Paper |
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Form of publication: | Preprint |
Keywords: | intertemporal choice, financial education, experiment |
Faculties: | Economics > Chairs > Chair of Empirical Economics |
Subjects: | 300 Social sciences > 330 Economics |
URN: | urn:nbn:de:bvb:19-epub-26792-3 |
Language: | English |
Item ID: | 26792 |
Date Deposited: | 12. Jan 2016 09:25 |
Last Modified: | 04. Nov 2020 13:07 |
Available Versions of this Item
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The impact of financial education on adolescents' intertemporal choices. (deposited 12. Jan 2016 09:05)
- The Impact of Financial Education on Adolescents' Intertemporal Choices. (deposited 12. Jan 2016 09:25) [Currently Displayed]