Financial education and risk literacy Contents: Foreword by Salvatore Rossi Introduction Riccardo Viale and Umberto Filotto PART I FINANCIAL LITERACY AND FINANCIAL EDUCATION: RECOMMENDATIONS EVIDENCE AND POLICY IMPLICATIONS 1 Broadening the scope of financial literacy to incorporate self control budgeting and heuristics Hersh Shefrin 2 How financial decisions are affected by financial literacy levels behavioral aspects and individual propensities: an empirical analysis of Italian young adults Gian Paolo Stella Umberto Filotto and Enrico Maria Cervellati 3 From financial education to economic education for citizenship Anna Emilia Berti 4 Financial education in times of digitalization and FinTech (r)evolution Rossella Locatelli and Alessandra Tanda 5 Financial and demographic education effectiveness in academic and vocational high schools: a randomised experiment Luca Maria Pesando Francesco C. Billari Carlo Favero and Francesco Saita 6 Business education: do values make a difference Malte Petersen Monika Keller Jürgen Weibler and Wasilios Hariskos 7 Learning to wait be altruistic and fair: a primary school training in economic education Antonella Marchetti Teresa Rinaldi Elisabetta Lombardi Davide Massaro and Annalisa Valle 8 Financial education in action for socially fragile groups Giovanna Paladino 9 Enhancing financial knowledge and risk literacy through edutainment: CONSOBs experience Nadia Linciano PART II RISK LITERACY AND FINANCIAL DECISION MAKING 10 Boosting and nudging: two paths toward better financial decisions Ralph Hertwig and Till Grüne Yanoff 11 Cultural Finance: how is financial information received Barbara Alemanni and Shabnam Mousavi 12 Using experiments to inform consumer protection policy in financial services Shane Timmons and Peter D. Lunn 13 Risk seeking or risk averse Phenomenology and perception Caterina Lucarelli Mario Maggi and Pierpaolo Uberti 14 Old age and the decline in investment performance Michael S. Finke and Sandra J. Huston 15 The need for entrepreneurs risk literacy: evidence from Italian SMEs and a call to arms Enrico Maria Cervellati 16 The effect of ex post information in choice under ambiguity Francesco D. Zaffuto Mateus Joffily and Giorgio Coricelli 17 Financial education among Italian SMEs Fabrizio Guelpa 18 Finance technology and financial education Cristina Giorgiantonio and Zeno Rotondi Index. This innovative book explores how the design of financial education programmes could benefit from the findings of behavioural economics and finance and cognitive sciences. It covers the social cultural and technological determinants of financial education the role of the banking system in promoting financial literacy and how governments and regulatory authorities are dealing with financial education and risk literacy programmes in schools. Featuring contributions from authors with diverse methodological and ideological backgrounds Financial Education and Risk Literacy offers a rich and multifaceted debate. Chapters explore theory and empirical evidence utilising investigations of programmes deployed and the outcomes of experiments. This book also complements the emerging literature by studying how individuals perceive and process information when making financial decisions. Economics students and scholars in particular those studying behavioural economics will appreciate the forward looking agenda of this book. Its insights into how policymakers can benefit from a behavioural approach will also help regulators in the financial education sector