This paper provides the first evidence of the existence of gender-based favoritism in life saving decisions to donate blood. We conduct a field experiment among blood donors from Bosnia and Herzegovina where we exogenously manipulate the signal of a blood recipient’s gender by adding his/her name, and photograph, to a letter soliciting blood donation. Motivated by the literature on identity, we test the influence on donation behavior of two dimensions of shared identity between donor and recipient – gender and age. 74% more blood donors donate if the potential blood recipient is of the same gender. This result is mostly driven by male donors donating to a male recipient. In contrast to gender identity being an important determinant in fostering donors’ participation rates, being of similar age to the blood recipient has relatively little effect. By identifying an important factor that influences willingness to give blood, our results have implications for better targeting of campaigns to increase blood donations.
{"title":"Gender-Based Favoritism in Blood Donations: Evidence from a Field Experiment","authors":"Danijela Vuletić","doi":"10.2139/ssrn.3396369","DOIUrl":"https://doi.org/10.2139/ssrn.3396369","url":null,"abstract":"This paper provides the first evidence of the existence of gender-based favoritism in life saving decisions to donate blood. We conduct a field experiment among blood donors from Bosnia and Herzegovina where we exogenously manipulate the signal of a blood recipient’s gender by adding his/her name, and photograph, to a letter soliciting blood donation. Motivated by the literature on identity, we test the influence on donation behavior of two dimensions of shared identity between donor and recipient – gender and age. 74% more blood donors donate if the potential blood recipient is of the same gender. This result is mostly driven by male donors donating to a male recipient. In contrast to gender identity being an important determinant in fostering donors’ participation rates, being of similar age to the blood recipient has relatively little effect. By identifying an important factor that influences willingness to give blood, our results have implications for better targeting of campaigns to increase blood donations.","PeriodicalId":345692,"journal":{"name":"Political Methods: Experiments & Experimental Design eJournal","volume":"86 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-04-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132315596","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Policy makers are increasingly searching for ways to allow more disadvantaged students to access and complete higher education. The quickly growing (quasi-)experimental literature on policy interventions in higher education provide the opportunity to identify the causal effects of these interventions on disadvantaged students and discuss inequality mechanisms at the last stage of the educational system. The paper reviews 75 studies and rigorously compares more than 200 causal effects of outreach and financial aid interventions on the access and completion rates of disadvantaged students in higher education. The paper finds that outreach policies are broadly effective in increasing access for disadvantaged students when these policies include active counseling or simplify the university application process, but not when they only provide general information on higher education. For financial aid, the paper finds that need-based grants do not systematically increase enrollment rates but only lead to improvements when they provide enough money to cover unmet need and/or include an early commitment during high school. Still, need-based grants quite consistently appear to improve the completion rates of disadvantaged students. In contrast, the evidence indicates that merit-based grants only rarely improve the outcomes of disadvantaged students. Finally, interventions combining outreach and financial aid have brought promising results, although more research on these mixed interventions is needed.
{"title":"What Works to Reduce Inequalities in Higher Education? A Systematic Review of the (Quasi-)Experimental Literature on Outreach and Financial Aid","authors":"Estelle Herbaut, K. Geven","doi":"10.1596/1813-9450-8802","DOIUrl":"https://doi.org/10.1596/1813-9450-8802","url":null,"abstract":"Policy makers are increasingly searching for ways to allow more disadvantaged students to access and complete higher education. The quickly growing (quasi-)experimental literature on policy interventions in higher education provide the opportunity to identify the causal effects of these interventions on disadvantaged students and discuss inequality mechanisms at the last stage of the educational system. The paper reviews 75 studies and rigorously compares more than 200 causal effects of outreach and financial aid interventions on the access and completion rates of disadvantaged students in higher education. The paper finds that outreach policies are broadly effective in increasing access for disadvantaged students when these policies include active counseling or simplify the university application process, but not when they only provide general information on higher education. For financial aid, the paper finds that need-based grants do not systematically increase enrollment rates but only lead to improvements when they provide enough money to cover unmet need and/or include an early commitment during high school. Still, need-based grants quite consistently appear to improve the completion rates of disadvantaged students. In contrast, the evidence indicates that merit-based grants only rarely improve the outcomes of disadvantaged students. Finally, interventions combining outreach and financial aid have brought promising results, although more research on these mixed interventions is needed.","PeriodicalId":345692,"journal":{"name":"Political Methods: Experiments & Experimental Design eJournal","volume":"77 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-04-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"133524130","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Employee pension plans in most countries limit participants' choice to a pre-selected 'menu' of funds. How would funds react if participants were allowed to choose funds from outside of such a limited menu? This paper exploits a pension policy reform in Hong Kong to study funds' reaction using a difference-in-difference approach. The findings indicate that funds, catering to participants' preferences, started charging lower fees after the reform. In the meantime, they adopted a less active investment strategy and gross return deteriorated. The findings suggest that the freedom of choice affects participants' wealth indirectly through the endogenous response of funds.
{"title":"Freedom of Choice in Pension Plans: Evidence from a Quasi-Natural Experiment","authors":"C. Hong","doi":"10.2139/ssrn.3043020","DOIUrl":"https://doi.org/10.2139/ssrn.3043020","url":null,"abstract":"Employee pension plans in most countries limit participants' choice to a pre-selected 'menu' of funds. How would funds react if participants were allowed to choose funds from outside of such a limited menu? This paper exploits a pension policy reform in Hong Kong to study funds' reaction using a difference-in-difference approach. The findings indicate that funds, catering to participants' preferences, started charging lower fees after the reform. In the meantime, they adopted a less active investment strategy and gross return deteriorated. The findings suggest that the freedom of choice affects participants' wealth indirectly through the endogenous response of funds.","PeriodicalId":345692,"journal":{"name":"Political Methods: Experiments & Experimental Design eJournal","volume":"11 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-03-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"125246894","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
The perfectly competitive market – a hypothetical situation free of market failure – is the basis for the two fundamental welfare theorems, and an important benchmark for economic theory. The radical abstractions of this idea, however, make its full implications hard to grasp. I address this using literary fiction. Part I discusses fiction as a tool for economic theory. Part II is a story about a journey to the perfectly competitive market. Part III develops main theoretical insights based on the story: First, complete social isolation is needed to preclude market failure. Second, the requirements of symmetric information and no external effects are extremely hard to reconcile, leading to an impossibility theorem: if trade is permitted anytime, and deliberate, welfare-relevant learning is feasible, no perfectly competitive market can exist.
{"title":"The Third Theorem of Welfare Economics: Report from a Fictional Field Study","authors":"K. Nyborg","doi":"10.2139/ssrn.3390259","DOIUrl":"https://doi.org/10.2139/ssrn.3390259","url":null,"abstract":"The perfectly competitive market – a hypothetical situation free of market failure – is the basis for the two fundamental welfare theorems, and an important benchmark for economic theory. The radical abstractions of this idea, however, make its full implications hard to grasp. I address this using literary fiction. Part I discusses fiction as a tool for economic theory. Part II is a story about a journey to the perfectly competitive market. Part III develops main theoretical insights based on the story: First, complete social isolation is needed to preclude market failure. Second, the requirements of symmetric information and no external effects are extremely hard to reconcile, leading to an impossibility theorem: if trade is permitted anytime, and deliberate, welfare-relevant learning is feasible, no perfectly competitive market can exist.","PeriodicalId":345692,"journal":{"name":"Political Methods: Experiments & Experimental Design eJournal","volume":"32 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132260113","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This paper explores the effects of a large increase in the national minimum wage in Turkey on firms’ exit rates from the formal economy. The analysis exploits a unique, linked employer-employee panel data set of the universe of registered firms in all sectors of the economy. The causal impact of the minimum wage hike is estimated by using pre-policy information on the full distribution of wages in registered firms as a measure of exposure to treatment, and by implementing a difference-in-difference estimation strategy. The minimum wage hike is found to increase firms’ exit rates from the formal economy by 12 percent. This suggests that firm exits attributable to the minimum wage hike could account for up to one-third of the total formal employment destruction that occurred between 2015 and 2016. The minimum wage effect on exit rates is found to be larger among firms with low productivity levels before the policy change, and in sectors where profit margins are low. A range of placebo tests and robustness checks indicate that these findings are not driven by trends in unobservable characteristics correlated with exposure to the minimum wage hike.
{"title":"Do Firms Exit the Formal Economy after a Minimum Wage Hike?","authors":"Ayşenur Acar, Laurent Bossavie","doi":"10.1596/1813-9450-8749","DOIUrl":"https://doi.org/10.1596/1813-9450-8749","url":null,"abstract":"This paper explores the effects of a large increase in the national minimum wage in Turkey on firms’ exit rates from the formal economy. The analysis exploits a unique, linked employer-employee panel data set of the universe of registered firms in all sectors of the economy. The causal impact of the minimum wage hike is estimated by using pre-policy information on the full distribution of wages in registered firms as a measure of exposure to treatment, and by implementing a difference-in-difference estimation strategy. The minimum wage hike is found to increase firms’ exit rates from the formal economy by 12 percent. This suggests that firm exits attributable to the minimum wage hike could account for up to one-third of the total formal employment destruction that occurred between 2015 and 2016. The minimum wage effect on exit rates is found to be larger among firms with low productivity levels before the policy change, and in sectors where profit margins are low. A range of placebo tests and robustness checks indicate that these findings are not driven by trends in unobservable characteristics correlated with exposure to the minimum wage hike.","PeriodicalId":345692,"journal":{"name":"Political Methods: Experiments & Experimental Design eJournal","volume":"118 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-02-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"122424409","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Experimental researchers in political science frequently face the problem of inferring which of several treatment arms is most effective. They may also seek to estimate mean outcomes under that arm, construct confidence intervals, and test hypotheses. Ordinarily, multi-arm trials conducted using static designs assign participants to each arm with fixed probabilities. However, a growing statistical literature suggests that adaptive experimental designs that dynamically allocate larger assignment probabilities to more promising treatments are better equipped to discover the best-performing arm. Using simulations and empirical applications, we explore the conditions under which such designs hasten the discovery of superior treatments and improve the precision with which their effects are estimated. Recognizing that many scholars seek to assess performance relative to a control condition, we also develop and implement a novel adaptive algorithm that seeks to maximize the precision with which the largest treatment effect is estimated.
{"title":"Adaptive Experimental Design: Prospects and Applications in Political Science","authors":"Molly Offer-Westort, A. Coppock, D. Green","doi":"10.2139/ssrn.3364402","DOIUrl":"https://doi.org/10.2139/ssrn.3364402","url":null,"abstract":"Experimental researchers in political science frequently face the problem of inferring which of several treatment arms is most effective. They may also seek to estimate mean outcomes under that arm, construct confidence intervals, and test hypotheses. Ordinarily, multi-arm trials conducted using static designs assign participants to each arm with fixed probabilities. However, a growing statistical literature suggests that adaptive experimental designs that dynamically allocate larger assignment probabilities to more promising treatments are better equipped to discover the best-performing arm. Using simulations and empirical applications, we explore the conditions under which such designs hasten the discovery of superior treatments and improve the precision with which their effects are estimated. Recognizing that many scholars seek to assess performance relative to a control condition, we also develop and implement a novel adaptive algorithm that seeks to maximize the precision with which the largest treatment effect is estimated.","PeriodicalId":345692,"journal":{"name":"Political Methods: Experiments & Experimental Design eJournal","volume":"9 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-02-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129404815","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This paper develops an automated algorithm to process input data for segmented string relative rankings (SSRRs). The purpose of the SSRR methodology is to create rankings of countries, companies, or any other units based on surveys of expert opinion. This is done without the use of grading systems, which can distort the results due to varying degrees of strictness among experts. However, the original SSRR approach relies on manual application, which is highly laborious and also carries a risk of human error. This paper seeks to solve this problem by further developing the SSRR approach by employing link analysis, which is based on network theory and is similar to the PageRank algorithm used by the Google search engine. The ranking data are treated as part of a linear, hierarchical network and each unit receives a score according to how many units are positioned below it in the network. This approach makes it possible to efficiently resolve contradictions among experts providing input for a ranking. A hypertext preprocessor (PHP) script for the algorithm is included in the article’s appendix. The proposed methodology is suitable for use across a range of social science disciplines, especially economics, sociology, and political science.
{"title":"Algorithm for Producing Rankings Based on Expert Surveys","authors":"Indra Overland, Javlon Juraev","doi":"10.3390/a12010019","DOIUrl":"https://doi.org/10.3390/a12010019","url":null,"abstract":"This paper develops an automated algorithm to process input data for segmented string relative rankings (SSRRs). The purpose of the SSRR methodology is to create rankings of countries, companies, or any other units based on surveys of expert opinion. This is done without the use of grading systems, which can distort the results due to varying degrees of strictness among experts. However, the original SSRR approach relies on manual application, which is highly laborious and also carries a risk of human error. This paper seeks to solve this problem by further developing the SSRR approach by employing link analysis, which is based on network theory and is similar to the PageRank algorithm used by the Google search engine. The ranking data are treated as part of a linear, hierarchical network and each unit receives a score according to how many units are positioned below it in the network. This approach makes it possible to efficiently resolve contradictions among experts providing input for a ranking. A hypertext preprocessor (PHP) script for the algorithm is included in the article’s appendix. The proposed methodology is suitable for use across a range of social science disciplines, especially economics, sociology, and political science.","PeriodicalId":345692,"journal":{"name":"Political Methods: Experiments & Experimental Design eJournal","volume":"26 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-01-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"125481068","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
During survey data collection, respondents’ answers may be influenced by the behavior and characteristics of the enumerator, the so-called enumerator effect. Using a large-scale experiment in Uganda in which the study randomly pairs enumerators and respondents, the study explores for which types of questions the enumerator effect may exist. It is found that the enumerator effect is minimal in many questions, but is large for political preference questions, for which it can account for over 30 percent of the variation in responses. The study then explores which enumerator characteristics, and which of their combination with respondent characteristics, could account for this effect. Finally, the conclusion provides some practical suggestions on how to minimize enumerator effects, and potential bias, in various types of data collections.
{"title":"Be Wary of Those Who Ask: A Randomized Experiment on the Size and Determinants of the Enumerator Effect","authors":"Michele Di Maio, N. Fiala","doi":"10.1596/1813-9450-8671","DOIUrl":"https://doi.org/10.1596/1813-9450-8671","url":null,"abstract":"\u0000 During survey data collection, respondents’ answers may be influenced by the behavior and characteristics of the enumerator, the so-called enumerator effect. Using a large-scale experiment in Uganda in which the study randomly pairs enumerators and respondents, the study explores for which types of questions the enumerator effect may exist. It is found that the enumerator effect is minimal in many questions, but is large for political preference questions, for which it can account for over 30 percent of the variation in responses. The study then explores which enumerator characteristics, and which of their combination with respondent characteristics, could account for this effect. Finally, the conclusion provides some practical suggestions on how to minimize enumerator effects, and potential bias, in various types of data collections.","PeriodicalId":345692,"journal":{"name":"Political Methods: Experiments & Experimental Design eJournal","volume":"36 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"128029309","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
S. Dissanayake, R. Bluffstone, E. Somanathan, H. Luintel, N. Paudel, M. Toman
This paper uses a choice experiment conducted in Nepal during 2013 to estimate household-level willingness to participate in a village-level program under the Reduced Emissions from Deforestation and Forest Degradation initiative requiring reductions in fuelwood collection, as a function of the price paid per unit of avoided carbon dioxide emissions. The analysis examines incentives to participate both in villages having formal community forest management, the core institution for implementing Reduced Emissions from Deforestation and Forest Degradation, and villages having only informal forest user groups. Contrary to previous findings in the literature about participation incentives, but in keeping with other recent studies of Reduced Emissions from Deforestation and Forest Degradation pilots in Nepal, this study finds that relatively little emission reduction would take place at prices of $1.00 to $5.00 per ton of avoided carbon emissions. Formal community forests will almost certainly be the core institution within which Reduced Emissions from Deforestation and Forest Degradation is implemented in Nepal and likely other countries. The study finds that average and median values of payment required for agreement to reduce fuelwood collection are substantially larger for formal forest user groups than in informal communities. This reflects that formal groups likely already have fuelwood collection restrictions in place, whereas informal groups may de facto permit open access extraction. The analysis also suggests that households that are part of informal groups react to Reduced Emissions from Deforestation and Forest Degradation very differently than households that are formal group members. Broadly speaking,"underprivileged"formal group member households, such as those who are landless, female-headed, and poor, appear to be warier of fuelwood collection restrictions and thus require higher payments than average respondents. This difference does not appear to carry over to informal group members.
{"title":"Forest Carbon Supply in Nepal: Evidence from a Choice Experiment","authors":"S. Dissanayake, R. Bluffstone, E. Somanathan, H. Luintel, N. Paudel, M. Toman","doi":"10.1596/1813-9450-8648","DOIUrl":"https://doi.org/10.1596/1813-9450-8648","url":null,"abstract":"This paper uses a choice experiment conducted in Nepal during 2013 to estimate household-level willingness to participate in a village-level program under the Reduced Emissions from Deforestation and Forest Degradation initiative requiring reductions in fuelwood collection, as a function of the price paid per unit of avoided carbon dioxide emissions. The analysis examines incentives to participate both in villages having formal community forest management, the core institution for implementing Reduced Emissions from Deforestation and Forest Degradation, and villages having only informal forest user groups. Contrary to previous findings in the literature about participation incentives, but in keeping with other recent studies of Reduced Emissions from Deforestation and Forest Degradation pilots in Nepal, this study finds that relatively little emission reduction would take place at prices of $1.00 to $5.00 per ton of avoided carbon emissions. Formal community forests will almost certainly be the core institution within which Reduced Emissions from Deforestation and Forest Degradation is implemented in Nepal and likely other countries. The study finds that average and median values of payment required for agreement to reduce fuelwood collection are substantially larger for formal forest user groups than in informal communities. This reflects that formal groups likely already have fuelwood collection restrictions in place, whereas informal groups may de facto permit open access extraction. The analysis also suggests that households that are part of informal groups react to Reduced Emissions from Deforestation and Forest Degradation very differently than households that are formal group members. Broadly speaking,\"underprivileged\"formal group member households, such as those who are landless, female-headed, and poor, appear to be warier of fuelwood collection restrictions and thus require higher payments than average respondents. This difference does not appear to carry over to informal group members.","PeriodicalId":345692,"journal":{"name":"Political Methods: Experiments & Experimental Design eJournal","volume":"23 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-11-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129070565","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Valeria Caivano, Monica Gentile, N. Linciano, P. Soccorso
The 2018 edition of the CONSOB Report on financial investments of Italian households presents evidence on the financial choices of a representative sample of 1,601 Italian households while significantly deepening the analysis of financial knowledge and individual attitudes. After the first Section on trends in household wealth, savings and financial inclusion, the second Section examines several personal inclinations that may deeply affect financial behaviours. In particular, self-evaluation on preference for numerical information, need for cognition, financial anxiety, self-efficacy and self-control are elicited, as well as the attitude towards optimism and generalised trust. These traits are found to be associated with financial knowledge, both actual and perceived, and risk preferences (Section 3) as well as financial control and saving habits (Section 4), investment choices and demand for investment advice (Section 5 and 6, respectively). The last Section of the Report focuses on respondents’ intention to learn finance and monitor household budget in the vein of the Theory of planned behaviour. Overall, the evidence gathered confirms that much remains to be done in order to raise Italian households’ financial knowledge, the quality of their financial choices as well as their awareness of the need to improve their financial competencies.
{"title":"Report on Financial Investments of Italian Households. Behavioural Attitudes and Approaches - 2018 Survey","authors":"Valeria Caivano, Monica Gentile, N. Linciano, P. Soccorso","doi":"10.2139/ssrn.3271018","DOIUrl":"https://doi.org/10.2139/ssrn.3271018","url":null,"abstract":"The 2018 edition of the CONSOB Report on financial investments of Italian households presents evidence on the financial choices of a representative sample of 1,601 Italian households while significantly deepening the analysis of financial knowledge and individual attitudes. After the first Section on trends in household wealth, savings and financial inclusion, the second Section examines several personal inclinations that may deeply affect financial behaviours. In particular, self-evaluation on preference for numerical information, need for cognition, financial anxiety, self-efficacy and self-control are elicited, as well as the attitude towards optimism and generalised trust. These traits are found to be associated with financial knowledge, both actual and perceived, and risk preferences (Section 3) as well as financial control and saving habits (Section 4), investment choices and demand for investment advice (Section 5 and 6, respectively). The last Section of the Report focuses on respondents’ intention to learn finance and monitor household budget in the vein of the Theory of planned behaviour. Overall, the evidence gathered confirms that much remains to be done in order to raise Italian households’ financial knowledge, the quality of their financial choices as well as their awareness of the need to improve their financial competencies.","PeriodicalId":345692,"journal":{"name":"Political Methods: Experiments & Experimental Design eJournal","volume":"19 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-10-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129865980","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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