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This book presents selected paperson the factors that serve to influence an individual's capacity in financialdecision-making. Initial chapters provide an overview of the cognitive factorsaffecting financial decisions and suggest a link between limited cognitivecapacity and the need for financial education. The book then expands on thesecognitive limitations to explore the tendency for overconfidence indecision-making and the interplay between rational and irrational factors.Later contributions show how credit card companies benefit from limitations inconsumer financial literacy, how gender and cognition intersect to play animportant role in financial decision-making, and how to improve financialcapacity through financial literacy and education campaigns, including thoseaddressing developed marketplaces. This comprehensive collection of papers willbe of value to all readers who seek to better understand the multi-factorialand complex nature of personal financial management in today's economicclimate.
List of contents
Introduction; Tina Harrison.- Chapter 1: Cognitivedrivers of suboptimal financial decisions: Implications for financial literacycampaigns; Hooman Estelami.- Chapter 2: How mutual fund investors' objective andsubjective knowledge impacts their information search and processing behaviour; Sanjay Kumar Mishra and Manoj Kumar.- Chapter 3: Do investors show anattentional bias toward past performance? An eye-tracking experiment on visualattention to mutual fund disclosures in simplified fund prospectuses; AndreasHüsser and Werner Wirth.- Chapter 4: Overconfidence and emotion regulationfailure: How overconfidence leads to the disposition effect in consumerinvestment behaviour; Wujin Chu, Meeja Im and Hyunkyu Jang.-Chapter 5: Consumer rationality/irrationality and financial literacy in thecredit card market: Implications from an integrative review; Na Shen.- Chapter 6: Financial literacy and shrouded credit cardrewards; Laura Ricaldi, Michael S Finke and Sandra J Huston.- Chapter 7: Aremen better investors than women? Gender differences in mutual fund and pensioninvestments; Rita Martenson.- Chapter 8: Genderstereotyping in financial advisors' assessment of customers; Inga-Lill Söderberg.- Chapter 9: Tailored financial literacy education:An indigenous perspective; Mark Brimble and Levon Blue.- Chapter10: Financial literacy and financial literacy programmes in Australia; Andrew C Worthington.- Chapter 11: Assessment of behavioural outcomes offinancial education workshops on financial behaviour of the participants: Anexperimental study; Harsha Vijaykumar Jariwala and MahendraS Sharma.
About the author
Dr Tina
Harrison is
the Personal Chair of Financial Services Marketing and Consumption at the
University of Edinburgh Business School, UK. She is also the Editor of
Palgrave's Journal of Financial Services Marketing.
Summary
This book presents selected papers
on the factors that serve to influence an individual’s capacity in financial
decision-making. Initial chapters provide an overview of the cognitive factors
affecting financial decisions and suggest a link between limited cognitive
capacity and the need for financial education. The book then expands on these
cognitive limitations to explore the tendency for overconfidence in
decision-making and the interplay between rational and irrational factors.
Later contributions show how credit card companies benefit from limitations in
consumer financial literacy, how gender and cognition intersect to play an
important role in financial decision-making, and how to improve financial
capacity through financial literacy and education campaigns, including those
addressing developed marketplaces. This comprehensive collection of papers will
be of value to all readers who seek to better understand the multi-factorial
and complex nature of personal financial management in today’s economic
climate.
