Skilled but unaware of it: Occurrence and potential long-term effects of females' financial underconfidence

Christina Bannier and Milena Schwarz

VfS Annual Conference 2017 (Vienna): Alternative Structures for Money and Banking from Verein für Socialpolitik / German Economic Association

Abstract: We find strong gender- and education-related differences in the distribution of actual and perceived financial sophistication: Whereas financial literacy rises in formal education, confidence increases in education for men but decreases for women. We show that the financial decisions of highly-educated men benefit strongly from this excess confidence, while the underconfidence of highly-educated women, in contrast, impairs their long-term financial planning.

JEL-codes: D83 D91 G11 J26 (search for similar items in EconPapers)
Date: 2017
New Economics Papers: this item is included in nep-edu, nep-fle and nep-gen
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Citations: View citations in EconPapers (4)

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Persistent link: https://EconPapers.repec.org/RePEc:zbw:vfsc17:168188

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