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Fearless Woman: Financial Literacy and Stock Market Participation / Tabea Bucher-Koenen, Rob J. Alessie, Annamaria Lusardi, Maarten van Rooij.
- Format:
- Book
- Author/Creator:
- Bucher-Koenen, Tabea.
- Series:
- Working Paper Series (National Bureau of Economic Research) no. w28723.
- NBER working paper series no. w28723
- Language:
- English
- Physical Description:
- 1 online resource: illustrations (black and white);
- Place of Publication:
- Cambridge, Mass. National Bureau of Economic Research 2021.
- Summary:
- Women are less financially literate than men. It is unclear whether this gap reflects a lack of knowledge or, rather, a lack of confidence. Our survey experiment shows that women tend to disproportionately respond "do not know" to questions measuring financial knowledge, but when this response option is unavailable, they often choose the correct answer. We estimate a latent class model and predict the probability that respondents truly know the correct answers. We find that about one-third of the financial literacy gender gap can be explained by women's lower confidence levels. Both financial knowledge and confidence explain stock market participation.
- Notes:
- April 2021.
- Print version record
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