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The Impact of Financial Education on Adolescents' Intertemporal Choices

Melanie Lührmann, Marta Serra-Garcia and Joachim Winter ()
Authors registered in the RePEc Author Service: Melanie Lührmann ()

American Economic Journal: Economic Policy, 2018, vol. 10, issue 3, 309-32

Abstract: We study the impact of financial education on intertemporal choice in adolescence. The educational program was randomly assigned among high school students, and choices were measured using an incentivized experiment. Students who participated in the program make more time-consistent choices; are more likely to allocate payments to a single payment date, as opposed to spreading payment across two dates; and display increased consistency of choice with the law of demand. These findings suggest that financial education increases the quality of intertemporal decision-making and decreases narrow bracketing.

JEL-codes: C93 D14 D15 I21 J13 (search for similar items in EconPapers)
Date: 2018
Note: DOI: 10.1257/pol.20170012
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Working Paper: The Impact of Financial Education on Adolescents' Intertemporal Choices (2014) Downloads
Working Paper: The impact of financial education on adolescents' intertemporal choices (2014) Downloads
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