Born for Finance? Experimental Evidence of the Impact of Finance Education

Bryan McCannon and Jeffrey Peterson

Journal of Behavioral Finance, 2015, vol. 16, issue 3, 199-205

Abstract: What impact does a finance education have on the behaviors of individuals? Experiments of an investment game are conducted where a wealth-creating investment decision is made. After it grows, the recipient selects how much to return. The econometric method used allows for a disentangling of the selection effects from learning. We show that finance students are both born and made. Those who choose to study finance do not necessarily make trusting investments or volunteer to return the proceeds, but the effect of the education is to reverse these behaviors promoting pro-social, trusting, and reciprocating choices that generate wealth.

Date: 2015
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DOI: 10.1080/15427560.2015.1064933

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