Tuesday, 7 October 2008

Behavioural economics & financial capability

I've just come across this fascinating paper (PDF) commissioned by the FSA, looking into what behavioural economics can bring to attempts to improve financial capability. The section entitled The curse of knowledge which starts on page 49 is particularly worth a read.

There's a great line in the conclusions: "What should be taught may not be explicit financial capability but thinking skills."

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