The Impact of Financial Education and Control on Financial Behaviour in Croatia: Are We More Similar to Homo Economicus or Homer Simpson? (CROSBI ID 671895)
Prilog sa skupa u zborniku | sažetak izlaganja sa skupa | međunarodna recenzija
Podaci o odgovornosti
Palić, Irena ; Barbić, Dajana ; Lučić, Andrea
engleski
The Impact of Financial Education and Control on Financial Behaviour in Croatia: Are We More Similar to Homo Economicus or Homer Simpson?
This paper tends to reveal whether individuals are more prone to behave like Homo-economicus or irrational individual led by short-run motivation. According to the traditional economic theory, individuals behave perfectly rationally and make their financial decisions based on their knowledge. On the other hand, behavioral theory neglects rational behavior assumed by traditional economics. Individuals do not act in their best interest and are prone to make irrational and wrong decisions. In the behavioral economics literature, as opposed to homo economicus, the irrational behavior is represented by the character of Homer Simpson who is often unreasonable, short-run-motivated, responsibility-averse, and does not use the acquired knowledge adequately. The purpose of this paper is to investigate the impact of financial knowledge, as a result of financial education, and behavioral control on subsequent financial behavior. Therefore, based on the results of the survey conducted among Croatian citizens, this research uses regression modeling to assess how financial knowledge and behavioral control affect responsible financial behavior among Croatian consumers. Results of research are valuable for proper educational policy and providing insight into motives behind the efficient financial behavior.
Financial behavior, Financial education, Behavioral control, Survey research, Regression analysis
This research is supported by the Croatian Science Foundation under the project STRENGTHS no. IP-2013-9402 and by the University of Zagreb, Croatia under 2018 research grant „Statistical modelling of the impact of financial education on consumer attitudes and behavior”.
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Podaci o prilogu
42-43.
2018.
objavljeno
Podaci o matičnoj publikaciji
Book of Abstracts - 2nd American University in the Emirates International Research Conference 2018 (AUIERC 2018): Sustainable Development and Social Responsibility
Dubai: American University in the Emirates
Podaci o skupu
2nd American University in the Emirates International Research Conference 2018 (AUIERC 2018): Sustainable Development and Social Responsibility
predavanje
13.11.2018-15.11.2018
Dubai, Ujedinjeni Arapski Emirati