{"title":"Gen Z and financial education: Evidence from a randomized control trial in the South of Italy","authors":"Alessia Sconti , Maurizio Caserta , Livio Ferrante","doi":"10.1016/j.socec.2024.102256","DOIUrl":null,"url":null,"abstract":"<div><p>Leading institutions are promoting several financial literacy initiatives worldwide, yet few of them are still measuring their impact on behavior. Following the current debate on the upcoming mandatory financial education implementation in Italy, this paper provides evidence of the consequences of financial education for Gen Zers’ decision-making. Specifically, we focus on the Bank of Italy's booklets initiative to measure the impact of financial education on intertemporal choices in a middle school in the South of Italy. Through a Randomized Control Trial (RCT) and eliciting time preferences with an incentivized task, we find robust evidence that enhancing financial literacy among Gen Zers significantly improves the quality of decision-making and the consistency of intertemporal choices.</p></div>","PeriodicalId":51637,"journal":{"name":"Journal of Behavioral and Experimental Economics","volume":null,"pages":null},"PeriodicalIF":1.6000,"publicationDate":"2024-06-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.sciencedirect.com/science/article/pii/S2214804324000946/pdfft?md5=be76fb275ebf9187f656604d8a486b2b&pid=1-s2.0-S2214804324000946-main.pdf","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Journal of Behavioral and Experimental Economics","FirstCategoryId":"96","ListUrlMain":"https://www.sciencedirect.com/science/article/pii/S2214804324000946","RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q2","JCRName":"ECONOMICS","Score":null,"Total":0}
引用次数: 0
Abstract
Leading institutions are promoting several financial literacy initiatives worldwide, yet few of them are still measuring their impact on behavior. Following the current debate on the upcoming mandatory financial education implementation in Italy, this paper provides evidence of the consequences of financial education for Gen Zers’ decision-making. Specifically, we focus on the Bank of Italy's booklets initiative to measure the impact of financial education on intertemporal choices in a middle school in the South of Italy. Through a Randomized Control Trial (RCT) and eliciting time preferences with an incentivized task, we find robust evidence that enhancing financial literacy among Gen Zers significantly improves the quality of decision-making and the consistency of intertemporal choices.
世界范围内的领先机构正在推广多项金融知识普及计划，但很少有机构仍在衡量这些计划对行为的影响。随着意大利即将实施强制性金融教育的讨论，本文提供了金融教育对 Z 世代决策影响的证据。具体来说，我们将重点放在意大利银行的小册子计划上，以衡量金融教育对意大利南部一所中学的跨期选择的影响。通过随机对照试验（RCT）和通过激励任务激发时间偏好，我们发现有力的证据表明，提高 Z 世代的金融知识水平能显著改善决策质量和跨期选择的一致性。
期刊介绍：
The Journal of Behavioral and Experimental Economics (formerly the Journal of Socio-Economics) welcomes submissions that deal with various economic topics but also involve issues that are related to other social sciences, especially psychology, or use experimental methods of inquiry. Thus, contributions in behavioral economics, experimental economics, economic psychology, and judgment and decision making are especially welcome. The journal is open to different research methodologies, as long as they are relevant to the topic and employed rigorously. Possible methodologies include, for example, experiments, surveys, empirical work, theoretical models, meta-analyses, case studies, and simulation-based analyses. Literature reviews that integrate findings from many studies are also welcome, but they should synthesize the literature in a useful manner and provide substantial contribution beyond what the reader could get by simply reading the abstracts of the cited papers. In empirical work, it is important that the results are not only statistically significant but also economically significant. A high contribution-to-length ratio is expected from published articles and therefore papers should not be unnecessarily long, and short articles are welcome. Articles should be written in a manner that is intelligible to our generalist readership. Book reviews are generally solicited but occasionally unsolicited reviews will also be published. Contact the Book Review Editor for related inquiries.
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