Work

Covariates of behavioral consistency among adolescents

Year: 2024

Type: article

Abstract: Building on cross-sectional data for Austrian high school students from fifth to twelfth grade (N = 771), we investigate the covariates of adolescents’ behavioral consistency for which we propose a novel measure focusing on the susceptibility to a battery of behavioral biases. Most importantly, we find that behavioral consistency significantly correlates with sense of future financial security, which demonstrates the practical relevance of the ability to make consistent decisions. Moreover, self-reported parental financial education relates positively to behavioral consistency. Our results also reveal an increase in behavioral consistency from students in lower secondary education to those in upper secondary education, paired with school-type effects in the latter group.

Source: Journal of Behavioral and Experimental Finance

DOI: 10.1016/j.jbef.2024.100986

Authors: Marco Aschenwald, Armando Holzknecht, Michael Kirchler, Michael Razen

Institutions: Universität Innsbruck, Management Center Innsbruck

Language: English

Topic: Decision-Making and Behavioral Economics

Subfield: General Decision Sciences

Field: Decision Sciences

Domain: Social Sciences

SDG: Quality education

Open Access status: hybrid

Estimated APC paid: $3,510