Financial attitude influences the financial behavior of retail investors. Although the extant
research has acknowledged and examined this relationship, the measures of financial …

Financial Literacy plays a crucial role in individuals' decision-making process. Existing
studies have shown that lower level of financial literacy lead to irrational financial decision …

We study the introduction of a wealth-management robo-adviser that constructs portfolios
tailored to investors' holdings and preferences. Adopters are similar to non-adopters in terms …

In this survey, we review the voluminous body of literature on the measurement and the
determinants of financial literacy. Wherever possible, we supplement existing findings with …

A longstanding problem in the social, biological, and computational sciences is to determine
how groups of distributed individuals can form intelligent collective judgments. Since …

Consumer resistance and inertia related behaviors are as important as adoption behaviors.
Resistance can lead to unwillingness on the part of the investors to invest in a particular …

This lecture considers the case for consumer financial regulation in an environment where
many households lack the knowledge to manage their financial affairs effectively. The …

Using representative US investor data, we investigate whether automated financial advisors,
also referred to as robo-advisors, reduce investors' demand for human financial advice …

We find that people with higher confidence in their own financial literacy are less likely to
seek financial advice, but no relation between objective measures of literacy and advice …

We present a new model of investors delegating portfolio management to professionals
based on trust. Trust in the manager reduces an investor's perception of the riskiness of a …