Information Disclosure and Demand Elasticity of Financial Products: Evidence from a Multi-Country Study
This study tests the effectiveness of behavioral-based disclosure formats. Around 1,700 individuals from Mexico and Peru chose among loans and savings accounts presented in different formats, including a simplified key facts statement (KFS) and current marketing brochures. The study finds that the p...
Gespeichert in:
| 1. Verfasser: | |
|---|---|
| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Washington, D.C
The World Bank
2017
|
| Schriftenreihe: | World Bank E-Library Archive
|
| Online-Zugang: | Volltext |
| Zusammenfassung: | This study tests the effectiveness of behavioral-based disclosure formats. Around 1,700 individuals from Mexico and Peru chose among loans and savings accounts presented in different formats, including a simplified key facts statement (KFS) and current marketing brochures. The study finds that the price elasticity of loans is ?1.04 using brochures and ?3.19 using the simplified KFS, with smaller effects for savings products. Finally, while financial literacy is correlated with better decision-making, the effect of the disclosure format for loans is about three times as large as that of financial literacy. More importantly, the KFS helps financially illiterate individuals relatively more |
| Beschreibung: | 1 Online-Ressource (61 p) |
| DOI: | 10.1596/1813-9450-8210 |
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| 520 | |a This study tests the effectiveness of behavioral-based disclosure formats. Around 1,700 individuals from Mexico and Peru chose among loans and savings accounts presented in different formats, including a simplified key facts statement (KFS) and current marketing brochures. The study finds that the price elasticity of loans is ?1.04 using brochures and ?3.19 using the simplified KFS, with smaller effects for savings products. Finally, while financial literacy is correlated with better decision-making, the effect of the disclosure format for loans is about three times as large as that of financial literacy. More importantly, the KFS helps financially illiterate individuals relatively more | ||
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| id | DE-604.BV048270027 |
| illustrated | Not Illustrated |
| index_date | 2024-07-03T20:00:02Z |
| indexdate | 2025-02-20T07:19:40Z |
| institution | BVB |
| language | English |
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| publishDate | 2017 |
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| publisher | The World Bank |
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| spellingShingle | Gine, Xavier Information Disclosure and Demand Elasticity of Financial Products Evidence from a Multi-Country Study |
| title | Information Disclosure and Demand Elasticity of Financial Products Evidence from a Multi-Country Study |
| title_auth | Information Disclosure and Demand Elasticity of Financial Products Evidence from a Multi-Country Study |
| title_exact_search | Information Disclosure and Demand Elasticity of Financial Products Evidence from a Multi-Country Study |
| title_exact_search_txtP | Information Disclosure and Demand Elasticity of Financial Products Evidence from a Multi-Country Study |
| title_full | Information Disclosure and Demand Elasticity of Financial Products Evidence from a Multi-Country Study Xavier Gine |
| title_fullStr | Information Disclosure and Demand Elasticity of Financial Products Evidence from a Multi-Country Study Xavier Gine |
| title_full_unstemmed | Information Disclosure and Demand Elasticity of Financial Products Evidence from a Multi-Country Study Xavier Gine |
| title_short | Information Disclosure and Demand Elasticity of Financial Products |
| title_sort | information disclosure and demand elasticity of financial products evidence from a multi country study |
| title_sub | Evidence from a Multi-Country Study |
| url | https://doi.org/10.1596/1813-9450-8210 |
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