Behavioural Biases: Driving a Wedge Between Access and Usage of Financial Services

Jared Osoro, Davis Bundi and Josea Kiplangat

Working Papers from African Economic Research Consortium

Abstract: The noticeable strides that Kenya has made in financial inclusion underpins the assumption that access automatically translates into usage of digital financial services. The plausibility of this assumption is questionable given that demand for financial services is influenced by behavioural biases. Individual behavioural heterogeneity and self-exclusion attitude account for the differences in financial decision making, with biases creating the wedge that inhibit the usage of financial services even when there are no limitations of access. The implication of such biases is that households have a predisposition of making financial decisions that leads to less optimal welfare outcomes.

Date: 2025
New Economics Papers: this item is included in nep-pay
Note: African Economic Research Consortium
References: Add references at CitEc
Citations:

Downloads: (external link)
https://publication.aercafricalibrary.org/handle/123456789/3953 (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:aer:wpaper:ec5ae1c5-ae9b-44d4-9a17-9244f73756c8

Access Statistics for this paper

More papers in Working Papers from African Economic Research Consortium Contact information at EDIRC.
Bibliographic data for series maintained by Daniel Njiru ().