This book presents selected papers on the factors that serve to influence an individual’s capacity in financial decision-making. Initial chapters provide an overview of the cognitive factors affecting financial decisions and suggest a link between limited cognitive capacity and the need for financial education. The book then expands on these cognitive limitations to explore the tendency for overconfidence in decision-making and the interplay between rational and irrational factors. Later contributions show how credit card companies benefit from limitations in consumer financial literacy, how gender and cognition intersect to play an important role in financial decision-making, and how to improve financial capacity through financial literacy and education campaigns, including those addressing developed marketplaces. This comprehensive collection of papers will be of value to all readers who seek to better understand the multi-factorial and complex nature of personal financial management in today’s economic climate.
Table of Content
Introduction ; Tina Harrison.- Chapter 1: Cognitive drivers of suboptimal financial decisions: Implications for financial literacy campaigns; Hooman Estelami.- Chapter 2: How mutual fund investors’ objective and subjective knowledge impacts their information search and processing behaviour; Sanjay Kumar Mishra and Manoj Kumar.- Chapter 3: Do investors show an attentional bias toward past performance? An eye-tracking experiment on visual attention to mutual fund disclosures in simplified fund prospectuses; Andreas Hüsser and Werner Wirth.- Chapter 4: Overconfidence and emotion regulation failure: How overconfidence leads to the disposition effect in consumer investment behaviour ; Wujin Chu, Meeja Im and Hyunkyu Jang.- Chapter 5: Consumer rationality/irrationality and financial literacy in the credit card market: Implications from an integrative review ; Na Shen.- Chapter 6: Financial literacy and shrouded credit card rewards; Laura Ricaldi, Michael S Finke and Sandra J Huston.- Chapter 7: Are men better investors than women? Gender differences in mutual fund and pension investments ; Rita Martenson.- Chapter 8: Gender stereotyping in financial advisors’ assessment of customers ; Inga-Lill Söderberg.- Chapter 9: Tailored financial literacy education: An indigenous perspective ; Mark Brimble and Levon Blue.- Chapter 10: Financial literacy and financial literacy programmes in Australia ; Andrew C Worthington.- Chapter 11: Assessment of behavioural outcomes of financial education workshops on financial behaviour of the participants: An experimental study ; Harsha Vijaykumar Jariwala and Mahendra S Sharma.
About the author
Dr Tina Harrison is the Personal Chair of Financial Services Marketing and Consumption at the University of Edinburgh Business School, UK. She is also the Editor of Palgrave’s Journal of Financial Services Marketing.
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