Testing the Relationship Between Confidence and Effort: A Behavioral Finance Perspective on the Problem of Financial Literacy

Testing the Relationship Between Confidence and Effort: A Behavioral Finance Perspective on the Problem of Financial Literacy

This experimental study tested the relationship between confidence and effort with the ultimate objective of discovering how these factors may influence financial literacy. This was done through a modified version of a slider test and ball allocation task. The population consisted of 85 random parti...

Full description

Saved in:
Bibliographic Details
Main Authors: Jacob, Louie Bernard A., Rabago, Miguel Angelo S., Tan, Hans Erickson A., Dacuycuy, Lawrence B., Largoza, Gerardo L., Dabbay, Maria Fe Carmen L.
Format: text
Published: Animo Repository 2021
Subjects:
Financial Literacy
Finance
buying power
Behavioral Economics
Growth and Development
Online Access:https://animorepository.dlsu.edu.ph/res_aki/9
https://animorepository.dlsu.edu.ph/cgi/viewcontent.cgi?article=1006&context=res_aki
Tags: Add Tag
No Tags, Be the first to tag this record!
Institution: De La Salle University
Description
Summary:This experimental study tested the relationship between confidence and effort with the ultimate objective of discovering how these factors may influence financial literacy. This was done through a modified version of a slider test and ball allocation task. The population consisted of 85 random participants who were primarily approached through social media. A simple OLS regression, along with robustness checks, namely the Tobit model and instrumental variable (IV) regression model using Tobit estimators, were utilized to confirm the causal relationship between confidence and effort.

Similar Items