Visual tools and narratives: new ways to improve financial literacy*
Annamaria Lusardi (),
Anya Samek,
Arie Kapteyn,
Lewis Glinert,
Angela Hung and
Aileen Heinberg
Journal of Pension Economics and Finance, 2017, vol. 16, issue 3, 297-323
Abstract:
We developed and experimentally evaluated four novel educational programs delivered online: an informational brochure, a visual interactive tool, a written narrative, and a video narrative. The programs were designed to inform people about risk diversification, an essential concept for financial decision-making. The effectiveness of these programs was evaluated using the American Life Panel. Participants were exposed to one of the programs, and then asked to answer questions measuring financial literacy – in particular, risk literacy – and self-efficacy. All of the programs were found to be effective at increasing self-efficacy, and several improved financial literacy, providing new evidence for the value of programs designed to improve financial decision-making.
Date: 2017
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Related works:
Working Paper: Visual Tools and Narratives: New Ways to Improve Financial Literacy (2014) 
Working Paper: Visual Tools and Narratives: New Ways to Improve Financial Literacy (2014) 
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Persistent link: https://EconPapers.repec.org/RePEc:cup:jpenef:v:16:y:2017:i:03:p:297-323_00
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