IDEAS home Printed from https://ideas.repec.org/h/elg/eechap/19356_2.html
   My bibliography  Save this book chapter

How financial decisions are affected by financial literacy levels, behavioral aspects and individual propensities: an empirical analysis of Italian young adult

In: Financial Education and Risk Literacy

Author

Listed:
  • Umberto Filotto
  • Gian Paolo Stella
  • Enrico Maria Cervellati

Abstract

Changes in social structure and culture, coupled with technology advancements, have broadened access to financial markets and services. One of the consequences of these changes is that people are asked to take financial decisions when they are young, often as soon as during school years. It is thus important to analyze the behavior of young adults and to study the mistakes they make in taking financial decisions. Several studies on financial literacy stressed the severe limitations in attitudes, skills and knowledge, of young individuals (as well as older ones) when they are asked to take decisions on financial matters. Some of those studies underline the relevance of behavioral aspects and individual propensities in influencing financial choices. The aim of this paper, which is based on the study of a sample of 1,298 young Italian adults, aged 18-24, is to test the relations between financial literacy, behavioral aspects and individual propensities and to understand the combined effect they have on financial decisions.

Suggested Citation

  • Umberto Filotto & Gian Paolo Stella & Enrico Maria Cervellati, 2021. "How financial decisions are affected by financial literacy levels, behavioral aspects and individual propensities: an empirical analysis of Italian young adult," Chapters, in: Riccardo Viale & Umberto Filotto & Barbara Alemanni & Shabnam Mousavi (ed.), Financial Education and Risk Literacy, chapter 2, pages 29-47, Edward Elgar Publishing.
    • Handle: RePEc:elg:eechap:19356_2
    as

    Download full text from publisher

    File URL: https://www.elgaronline.com/view/edcoll/9781789908848/9781789908848.00009.xml
    Download Restriction: no
    ---><---

    More about this item

    Keywords

    Economics and Finance;

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:elg:eechap:19356_2. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Darrel McCalla (email available below). General contact details of provider: http://www.e-elgar.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.