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The Impact of Financial Education on Adolescents' Intertemporal Choices

Melanie Lührmann (), Marta Serra-Garcia and Joachim Winter ()

No 4925, CESifo Working Paper Series from CESifo

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.

Keywords: intertemporal choice; financial education; experiment (search for similar items in EconPapers)
JEL-codes: C93 D14 D91 (search for similar items in EconPapers)
Date: 2014
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Related works:
Journal Article: The Impact of Financial Education on Adolescents' Intertemporal Choices (2018) Downloads
Working Paper: The Impact of Financial Education on Adolescents' Intertemporal Choices (2018)
Working Paper: The impact of financial education on adolescents' intertemporal choices (2014) Downloads
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