The Effect of the Economic Situation on Time and Risk Preferences: Does Financial Literacy Matter?
Identifikátory výsledku
Kód výsledku v IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F00216208%3A11410%2F22%3A10448396" target="_blank" >RIV/00216208:11410/22:10448396 - isvavai.cz</a>
Výsledek na webu
<a href="https://verso.is.cuni.cz/pub/verso.fpl?fname=obd_publikace_handle&handle=HuGYI0.Dou" target="_blank" >https://verso.is.cuni.cz/pub/verso.fpl?fname=obd_publikace_handle&handle=HuGYI0.Dou</a>
DOI - Digital Object Identifier
<a href="http://dx.doi.org/10.31577/sp.2022.02.850" target="_blank" >10.31577/sp.2022.02.850</a>
Alternativní jazyky
Jazyk výsledku
angličtina
Název v původním jazyce
The Effect of the Economic Situation on Time and Risk Preferences: Does Financial Literacy Matter?
Popis výsledku v původním jazyce
In two studies (N1 = 430; N2 = 500) on a general Slovak population (50.3% female; age = 39.8 +/- 11.7 years), we tested a structural model outlining the effects of one's economic situation and its subjective perception on time and risk preferences (in tasks with hypothetical rewards), with financial literacy serving as a mediator of these relationships. Even after respecifying the model, mostly weak or inconclusive relationships were observed. We further tested the time stability of time and risk preferences. On a sample of 224 participants who completed both waves (one year apart), we observed moderate correlations in the preferences even after controlling for income change. We argue that both time and risk preferences in monetary choices appear to be stable traits and are only marginally related to one's economic situation or financial literacy. Further investigation on the effectiveness of financial literacy in shaping economic preferences is needed.
Název v anglickém jazyce
The Effect of the Economic Situation on Time and Risk Preferences: Does Financial Literacy Matter?
Popis výsledku anglicky
In two studies (N1 = 430; N2 = 500) on a general Slovak population (50.3% female; age = 39.8 +/- 11.7 years), we tested a structural model outlining the effects of one's economic situation and its subjective perception on time and risk preferences (in tasks with hypothetical rewards), with financial literacy serving as a mediator of these relationships. Even after respecifying the model, mostly weak or inconclusive relationships were observed. We further tested the time stability of time and risk preferences. On a sample of 224 participants who completed both waves (one year apart), we observed moderate correlations in the preferences even after controlling for income change. We argue that both time and risk preferences in monetary choices appear to be stable traits and are only marginally related to one's economic situation or financial literacy. Further investigation on the effectiveness of financial literacy in shaping economic preferences is needed.
Klasifikace
Druh
J<sub>imp</sub> - Článek v periodiku v databázi Web of Science
CEP obor
—
OECD FORD obor
50301 - Education, general; including training, pedagogy, didactics [and education systems]
Návaznosti výsledku
Projekt
—
Návaznosti
I - Institucionalni podpora na dlouhodoby koncepcni rozvoj vyzkumne organizace
Ostatní
Rok uplatnění
2022
Kód důvěrnosti údajů
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů
Údaje specifické pro druh výsledku
Název periodika
Studia Psychologica
ISSN
0039-3320
e-ISSN
2585-8815
Svazek periodika
64
Číslo periodika v rámci svazku
2
Stát vydavatele periodika
SK - Slovenská republika
Počet stran výsledku
14
Strana od-do
228-241
Kód UT WoS článku
000817207500001
EID výsledku v databázi Scopus
2-s2.0-85134558738