Overview

This innovative book explores how the design of financial education programmes could benefit from the findings of behavioural economics and finance and cognitive sciences. It covers the social, cultural and technological determinants of financial education, the role of the banking system in promoting financial literacy, and how governments and regulatory authorities are dealing with financial education and risk literacy programmes in schools. Featuring contributions from authors with diverse methodological and ideological backgrounds, Financial Education and Risk Literacy offers a rich and multifaceted debate. Chapters explore theory and empirical evidence, utilising investigations of programmes deployed and the outcomes of experiments. This book also complements the emerging literature by studying how individuals perceive and process information when making financial decisions. Economics students and scholars, in particular those studying behavioural economics, will appreciate the forward-looking agenda of this book. Its insights into how policymakers can benefit from a behavioural approach will also help regulators in the financial education sector.

Full Product Details

Author:   Riccardo Viale ,  Umberto Filotto ,  Barbara Alemanni ,  Shabnam Mousavi
Publisher:   Edward Elgar Publishing Ltd
Imprint:   Edward Elgar Publishing Ltd
Dimensions:   Width: 15.60cm , Height: 2.40cm , Length: 23.40cm
Weight:   0.604kg
ISBN:  

9781789908848

ISBN 10:   1789908841
Pages:   328
Publication Date:   19 January 2021
Audience:   Professional and scholarly ,  Professional & Vocational
Format:   Hardback
Publisher's Status:   Active
Availability:   To order  
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Table of Contents

Contents: Foreword by Salvatore Rossi x Introduction 1 Riccardo Viale and Umberto Filotto PART I FINANCIAL LITERACY AND FINANCIAL EDUCATION: RECOMMENDATIONS, EVIDENCE AND POLICY IMPLICATIONS 1 Broadening the scope of financial literacy to incorporate self-control, budgeting and heuristics 5 Hersh Shefrin 2 How financial decisions are affected by financial literacy levels, behavioral aspects and individual propensities: an empirical analysis of Italian young adults 29 Gian Paolo Stella, Umberto Filotto and Enrico Maria Cervellati 3 From financial education to economic education for citizenship 48 Anna Emilia Berti 4 Financial education in times of digitalization and FinTech (r)evolution 60 Rossella Locatelli and Alessandra Tanda 5 Financial and demographic education effectiveness in academic and vocational high schools: a randomised experiment 75 Luca Maria Pesando, Francesco C. Billari, Carlo Favero and Francesco Saita 6 Business education: do values make a difference? 96 Malte Petersen, Monika Keller, Jürgen Weibler and Wasilios Hariskos 7 Learning to wait, be altruistic, and fair: a primary school training in economic education 112 Antonella Marchetti, Teresa Rinaldi, Elisabetta Lombardi, Davide Massaro and Annalisa Valle 8 Financial education in action for socially fragile groups 123 Giovanna Paladino 9 Enhancing financial knowledge and risk literacy through edutainment: CONSOB’s experience 135 Nadia Linciano PART II RISK LITERACY AND FINANCIAL DECISION-MAKING 10 Boosting and nudging: two paths toward better financial decisions 150 Ralph Hertwig and Till Grüne-Yanoff 11 Cultural Finance: how is financial information received? 181 Barbara Alemanni and Shabnam Mousavi 12 Using experiments to inform consumer protection policy in financial services 197 Shane Timmons and Peter D. Lunn 13 Risk seeking or risk averse? Phenomenology and perception 220 Caterina Lucarelli, Mario Maggi and Pierpaolo Uberti 14 Old age and the decline in investment performance 236 Michael S. Finke and Sandra J. Huston 15 The need for entrepreneurs’ risk literacy: evidence from Italian SMEs and a call to arms 250 Enrico Maria Cervellati 16 The effect of ex-post information in choice under ambiguity 262 Francesco D. Zaffuto, Mateus Joffily and Giorgio Coricelli 17 Financial education among Italian SMEs 272 Fabrizio Guelpa 18 Finance, technology and financial education 279 Cristina Giorgiantonio and Zeno Rotondi Index 291

Reviews

'In today's environment, financial education and risk literacy continue to be essential elements for individuals and organizations worldwide. This book provides keen insights from leading authorities worldwide on how best to improve financial education and risk literacy. Perhaps the traditional 3R's (Reading, wRiting, and aRithmetic) should be extended to include a fourth R being Risk, which would apply in the context of financial literacy and financial education. Enjoy the book-it is well-worth the money!' -- Jay LIebowitz, Harrisburg University of Science and Technology, US

'In today's environment, financial education and risk literacy continue to be essential elements for individuals and organizations worldwide. This book provides keen insights from leading authorities worldwide on how best to improve financial education and risk literacy. Perhaps the traditional 3Rs (Reading, wRiting, and aRithmetic) should be extended to include a fourth R, being Risk, which would apply in the context of financial literacy and financial education. Enjoy the book - it is well worth the money!' -- - Jay Liebowitz, Harrisburg University of Science and Technology, US

Author Information

Edited by Riccardo Viale, Department of Economics, University of Milano-Bicocca; School of European Public Economics, LUISS, Rome, Umberto Filotto, University of Rome “Tor Vergata”, Barbara Alemanni, University of Genoa, Italy and the late Shabnam Mousavi, formerly Center for Artificial Intelligence (CENTAI), Turin, Italy

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