JOURNAL ARTICLE
Cite JOURNAL ARTICLE
Style
Format
Increasing Financial Literacy: A Public Policy Challenge
Kotz, Hans-Helmut | Weber, Martin
Credit and Capital Markets – Kredit und Kapital, Vol. 40 (2007), Iss. 2 : pp. 175–187
Additional Information
Article Details
Author Details
Hans-Helmut Kotz, Frankfurt/M.
Martin Weber, Mannheim
References
-
Adams, Joe and Pauline A. Adams (1961): Realism of confidence judgments, Psychological Review, Vol. 68, 33-45.
Google Scholar -
Barber, Brad M. and Terrance Odean (2000): Trading is hazardous to your wealth: The common stock investment performance of individual investors, Journal of Finance, Vol. 55, 773-806.
Google Scholar -
Barberis, Nicholas, Andrei Shleifer, and Robert Vishny (1998): A model of investor sentiment, Journal of Financial Economics, Vol. 49, 307-343.
Google Scholar -
Brown, Philip, Nick Chappel, Ray da Silva Rosa, and Terry Walter (2007): The reach of the disposition effect: Large sample evidence across investor classes, International Review of Finance, forthcoming.
Google Scholar -
Burtless, Gary (2000): Social Security Privatization and Financial Market Risk, Center on Economic and Social Dynamics, Working Paper no. 10.
Google Scholar
Abstract
Individuals are supposed, by numerous reforms launched in particular over the last decade, to ever more provide on their own for their protection against potential mishaps or vulnerabilities. This holds true at least in a supplementary way, in particular for the provision of old age insurance. At the same time, the required level of financial literacy, enabling consumers to face those tasks, however, appears to be lacking. And this is, rightly in our eyes, perceived as an important issue of policy. Our aim is to briefly show how finance, in its applied as well as in its behavioural dimension, can usefully contribute to this task.