Could financial literacy overcome price information asymmetry: empirical study

Kód výsledku v IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F62690094%3A18450%2F15%3A50003876" target="_blank" >RIV/62690094:18450/15:50003876 - isvavai.cz</a>

Výsledek na webu

<a href="http://is.muni.cz/do/econ/sborniky/2015/EFS_2015_proceedings.pdf" target="_blank" >http://is.muni.cz/do/econ/sborniky/2015/EFS_2015_proceedings.pdf</a>

DOI - Digital Object Identifier

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Jazyk výsledku

angličtina

Název v původním jazyce

Could financial literacy overcome price information asymmetry: empirical study

Popis výsledku v původním jazyce

Our empirical study is focused on retail core banking services provided through the payment account and financial literacy. Financially literate consumer makes sound financial decisions and so we study on the real market if the optimal choice is made. There are factors that make the choice more difficult due to demand on monetary literacy such as various pricing, tariff complexity and links between products. We perform wide empirical study with a sample of 14 484 individual consumer payment account usage records to study the magnitude of the consumer decision making problem. Our results show very low share of optimal choices defined by the range of individually demanded services and the lowest price. The 95% confidence interval of optimal share is only(0,159; 0,171). Our next analyses narrowed the studied sample to filter off the geographical differentiation influence. We found slight improvement in both optimal choice share and the difference between the costs paid and the costs of o

Název v anglickém jazyce

Could financial literacy overcome price information asymmetry: empirical study

Popis výsledku anglicky

Our empirical study is focused on retail core banking services provided through the payment account and financial literacy. Financially literate consumer makes sound financial decisions and so we study on the real market if the optimal choice is made. There are factors that make the choice more difficult due to demand on monetary literacy such as various pricing, tariff complexity and links between products. We perform wide empirical study with a sample of 14 484 individual consumer payment account usage records to study the magnitude of the consumer decision making problem. Our results show very low share of optimal choices defined by the range of individually demanded services and the lowest price. The 95% confidence interval of optimal share is only(0,159; 0,171). Our next analyses narrowed the studied sample to filter off the geographical differentiation influence. We found slight improvement in both optimal choice share and the difference between the costs paid and the costs of o

Druh

D - Stať ve sborníku

CEP obor

AH - Ekonomie

OECD FORD obor

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Projekt

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Návaznosti

S - Specificky vyzkum na vysokych skolach

Rok uplatnění

2015

Kód důvěrnosti údajů

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Název statě ve sborníku

European financial systems 2015

ISBN

978-80-210-7962-5

ISSN

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e-ISSN

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Počet stran výsledku

8

Strana od-do

528-535

Název nakladatele

Masarykova univerzita

Místo vydání

Brno

Místo konání akce

Brno, CZECH REPUBLIC

Datum konání akce

18. 6. 2015

Typ akce podle státní příslušnosti

WRD - Celosvětová akce

Kód UT WoS článku

000370679200070