Authors
Bruce Ian Carlin, David T Robinson
Publication date
2012/7/1
Journal
The journal of economic education
Volume
43
Issue
3
Pages
235-247
Publisher
Taylor & Francis Group
Description
The authors use data from a finance-related theme park to explore how financial education changes investment, financing, and consumer behavior. Students were assigned fictitious life situations and asked to create household budgets. Some students received a 19-hour financial literacy curriculum before going to the park, and some did not. After controlling for demographic variables, the authors show that the treatment effects of the financial literacy program are strong. Students were more frugal, delayed gratification, paid off debt faster, and relied less on credit financing after training. Students who attended training showed greater uptake of decision support that was offered in the park, which indicates that decision support and financial literacy training are complements, not substitutes.
Total citations
2011201220132014201520162017201820192020202120222023202421213131417171925141913188
Scholar articles
BI Carlin, DT Robinson - The journal of economic education, 2012