Learning Millennial-Style
TL;DR: In this article, the authors characterize how video content affects individual decision-making and willingness to share in the context of a personal financial decision and find that content geared toward giving better instructions leads to better financial decisions, but less information sharing.
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Abstract: The growing use of on-line educational content and related video services has changed the way people access education, share knowledge, and possibly make life decisions. In this paper, we characterize how video content affects individual decision-making and willingness to share in the context of a personal financial decision. Content geared toward giving better instructions leads to better financial decisions, but less information sharing. Misleading advertising not only causes worse decisions, but makes it less likely that videos with useful content get shared in the market. This implies that the effects of deception have externalities on other peoples’ literacy and decision-making. Our work has important implications for policies guiding financial literacy training, and also has broader impact for education in the information age.
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TL;DR: In this paper, the authors present a discussion of whether, if, how, and when a moderate mediator can be used to moderate another variable's effect in a conditional process analysis.
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Reconsidering Baron and Kenny: Myths and Truths about Mediation Analysis
TL;DR: Baron and Kenny's procedure for determining if an independent variable affects a dependent variable through some mediator is so well known that it is used by authors and requested by reviewers almost reflexively.
Financial Literacy, Financial Education, and Downstream Financial Behaviors
TL;DR: Gneezy et al. as discussed by the authors conducted a meta-analysis of the relationship of financial literacy and of financial education to financial behaviors in 168 papers covering 201 prior studies, and found that interventions to improve financial literacy explain only 0.1% of the variance in financial behaviors studied, with weaker effects in low-income samples.
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Financial Literacy, Financial Education and Downstream Financial Behaviors (full paper and web appendix)
TL;DR: A meta-analysis of the relationship of financial literacy and of financial education to financial behaviors in 168 papers covering 201 prior studies finds that interventions to improve financial literacy explain only 0.1% of the variance in financial behaviors studied, with weaker effects in low-income samples.
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Arousal Increases Social Transmission of Information
TL;DR: Although it is clear that social transmission is both frequent and important, what drives people to share, and why are some stories and information shared more than others?