Publication:
Experience in Financial Decision-Making: Field Evidence from Malawi

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dc.contributor.authorGoldberg, Jessica
dc.contributor.authorGine, Xavier
dc.date.accessioned2018-09-13T21:10:54Z
dc.date.available2018-09-13T21:10:54Z
dc.date.issued2018-09
dc.description.abstractFifty-three percent of subjects who owned a high-fee account with a local bank in Malawi did not switch to a new, lower-fee account when given the choice. In contrast, holders of high-fee accounts who had been induced to make more transactions in the past were significantly more likely to adopt the new, cheaper account. Using estimates from a structural model, we find that the different propensity to switch is better explained by differences in the valuation of the new account rather than differences in the cost of switching. Experience using financial products can thus improve financial decision making.en
dc.identifierhttp://documents.worldbank.org/curated/en/815821536173881140/Endowment-Effects-and-Usage-of-Financial-Products-Field-Evidence-from-Malawi
dc.identifier.doi10.1596/1813-9450-8576
dc.identifier.urihttps://hdl.handle.net/10986/30421
dc.languageEnglish
dc.publisherWashington, DC: World Bank
dc.relation.ispartofseriesPolicy Research Working Paper; 8576
dc.rightsCC BY 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo
dc.subjectSAVINGS
dc.subjectENDOWMENT EFFECT
dc.subjectFIELD EXPERIMENT
dc.subjectSAVINGS ACCOUNTS
dc.titleExperience in Financial Decision-Makingen
dc.title.subtitleField Evidence from Malawien
dc.typeWorking Paperen
dc.typeDocument de travailfr
dc.typeDocumento de trabajoes
dspace.entity.typePublication
okr.crossref.titleExperience in Financial Decision-Making: Field Evidence from Malawi
okr.date.disclosure2018-09-05
okr.doctypePublications & Research
okr.doctypePublications & Research::Policy Research Working Paper
okr.docurlhttp://documents.worldbank.org/curated/en/815821536173881140/Endowment-Effects-and-Usage-of-Financial-Products-Field-Evidence-from-Malawi
okr.guid815821536173881140
okr.identifier.doi10.1596/1813-9450-8576
okr.identifier.externaldocumentum090224b086085b96_1_0
okr.identifier.internaldocumentum30400089
okr.identifier.reportWPS8576
okr.importedtrueen
okr.language.supporteden
okr.pdfurlhttp://documents.worldbank.org/curated/en/815821536173881140/pdf/WPS8576.pdfen
okr.region.administrativeAfrica
okr.region.countryMalawi
okr.statistics.combined1218
okr.statistics.dr815821536173881140
okr.statistics.drstats913
okr.topicFinance and Financial Sector Development::Contractual Savings
okr.topicFinance and Financial Sector Development::Financial Literacy
okr.topicSocial Development::Psychology
okr.unitDevelopment Research Group, Development Economics
relation.isAuthorOfPublication460a3e9c-f7d0-5335-977a-578f6fc8ebe3
relation.isAuthorOfPublication.latestForDiscovery460a3e9c-f7d0-5335-977a-578f6fc8ebe3
relation.isSeriesOfPublication26e071dc-b0bf-409c-b982-df2970295c87
relation.isSeriesOfPublication.latestForDiscovery26e071dc-b0bf-409c-b982-df2970295c87
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