Financial Literacy and the Limits of Financial Decision-Making

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.

Introduction; Tina Harrison. - Chapter 1: Cognitive
drivers of suboptimal financial decisions: Implications for financial literacy
campaigns; Hooman Estelami. - Chapter 2: How mutual fund investors objective and
subjective knowledge impacts their information search and processing behaviour; Sanjay Kumar Mishra and Manoj Kumar. - Chapter 3: Do investors show an
attentional bias toward past performance? An eye-tracking experiment on visual
attention to mutual fund disclosures in simplified fund prospectuses; Andreas
Hüsser and Werner Wirth. - Chapter 4: Overconfidence and emotion regulation
failure: How overconfidence leads to the disposition effect in consumer
investment behaviour; Wujin Chu, Meeja Im and Hyunkyu Jang. -
Chapter 5: Consumer rationality/irrationality and financial literacy in the
credit card market: Implications from an integrative review; Na Shen. - Chapter 6: Financial literacy and shrouded credit card
rewards; Laura Ricaldi, Michael S Finke and Sandra J Huston. - Chapter 7: Are
men better investors than women? Gender differences in mutual fund and pension
investments; Rita Martenson. - Chapter 8: Gender
stereotyping in financial advisors assessment of customers; Inga-Lill Söderberg. - Chapter 9: Tailored financial literacy education:
An indigenous perspective; Mark Brimble and Levon Blue. - Chapter
10: Financial literacy and financial literacy programmes in Australia; Andrew C Worthington. - Chapter 11: Assessment of behavioural outcomes of
financial education workshops on financial behaviour of the participants: An
experimental study; Harsha Vijaykumar Jariwala and Mahendra
S Sharma.