The DOI matches its Crossref record; 12 of the 12 references it cites were found in a registry or an index.
The Financial Education Fallacy
Open accessAbstract
Research to date does not demonstrate a causal chain from financial education to welfare-enhancing financial behavior, in part due to biases, heuristics, and emotional influences on decisions. Yet the search for effective financial education continues. But it is time to ask whether giving every person effective financial education would make us better off. Two reasons it might not are discussed here. First, the time, expense, and invasion of privacy required would be enormous. Second, such a world would entail a decrease in individual autonomy. Alternative tools could potentially increase household financial welfare and security at lower social and individual expense.
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Schwarz, N., Sanna, L. J., Skurnik, I., & Yoon, C. (2007) · Advances in Experimental Social Psychology · doi:10.1016/s0065-2601(06)39003-x · Cited by 441
Financial Literacy and Retirement Planning: New Evidence from the Rand American Life Panel
Lusardi, A., & Mitchell, O. S. (2007) · SSRN Electronic Journal · doi:10.2139/ssrn.1095869 · Cited by 401
The Impact of Financial Literacy Education on Subsequent Financial BehaviorPreprint
Mandell, L., & Klein, L. S. (2009) · SSRN Electronic Journal · Cited by 399
Against Financial Literacy Education
Willis, L. E. (2008) · Cited by 381
Self-citationKim, J., Garman, E. T., & Sorhaindo, B. (2003) · SSRN Electronic Journal · Cited by 172
With a Little Help from My Friends (and My Financial Planner)
Chang, M. L. (2005) · Social Forces · doi:10.1353/sof.2005.0061 · Cited by 118
Evidence and Ideology in Assessing the Effectiveness of Financial Literacy Education
Willis, L. E. (2008) · Cited by 99
Self-citationDo Financial Education Programs Work?
Hathaway, I., & Khatiwada, S. (2008) · Working paper · doi:10.26509/frbc-wp-200803 · Cited by 95
Financial Literacy: What Works? How Could it be More Effective?Preprint
Gale, W. G., & Levine, R. (2010) · SSRN Electronic Journal · doi:10.2139/ssrn.1758910 · Cited by 69
Do Financial Education Programs Work? Working Paper 08-03.
Hathaway, I., & Khatiwada, S. (2008) · Cited by 48
Cited by
The Economic Importance of Financial Literacy: Theory and Evidence
Lusardi, A., & Mitchell, O. S. (2014) · Journal of Economic Literature · doi:10.1257/jel.52.1.5 · Cited by 4,698
Financial Literacy, Financial Education, and Downstream Financial Behaviors
Fernandes, D., Lynch, J. G., & Netemeyer, R. G. (2014) · Management Science · doi:10.1287/mnsc.2013.1849 · Cited by 2,152
Financial Literacy, Financial Education, and Economic Outcomes
Hastings, J. S., Madrian, B. C., & Skimmyhorn, W. L. (2013) · Annual Review of Economics · doi:10.1146/annurev-economics-082312-125807 · Cited by 1,041
Netemeyer, R. G., Warmath, D., Fernandes, D., & Lynch, J. G. (2018) · Journal of Consumer Research · doi:10.1093/jcr/ucx109 · Cited by 842
The Economic Importance of Financial Literacy: Theory and Evidence
Lusardi, A., & Mitchell, O. S. (2013) · SSRN Electronic Journal · doi:10.2139/ssrn.2260193 · Cited by 675
Metadata
- Authors
- Willis, L. E.
- Venue
- American Economic Review
- Publisher
- American Economic Association
- Published
- 2011-05-01
- Volume
- 101
- Issue
- 3
- Pages
- 429-434
- ISSN
- 0002-8282 (ISSN-L)
- OpenAlex
- W2086406246
- Cited by
- 400
- References
- 12
- FWCI
- 61.78
- Type
- journal article
- Language
- en
- Open access
- green
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Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).
Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.
