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The Impact of Financial Education on Adolescents' Intertemporal Choices

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

Munich Reprints in Economics from University of Munich, Department of Economics

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.

Date: 2018
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Published in American Economic Journal-Economic Policy 3 10(2018): pp. 309-332

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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 (2014) Downloads
Working Paper: The impact of financial education on adolescents' intertemporal choices (2014) Downloads
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