Naslov
The Impact of Financial Education and Control on Financial Behaviour in Croatia: Are We More Similar to Homo Economicus or Homer Simpson?

Autori
Palić, Irena ; Barbić, Dajana ; Lučić, Andrea

Vrsta, podvrsta i kategorija rada
Sažeci sa skupova, sažetak, znanstveni

Izvornik
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, 2018, 42-43

Skup
2nd American University in the Emirates International Research Conference 2018 (AUIERC 2018): Sustainable Development and Social Responsibility

Mjesto i datum
Dubai, Ujedinjeni Arapski Emirati, 13.11.2018. - 15.11.2018

Vrsta sudjelovanja
Predavanje

Vrsta recenzije
Međunarodna recenzija

Ključne riječi
Financial behavior, Financial education, Behavioral control, Survey research, Regression analysis

Sažetak
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.

Izvorni jezik
Engleski

Znanstvena područja
Ekonomija

Napomena
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”.

POVEZANOST RADA