Policymakers are increasingly focused on improving citizens’ financial well-being through better financial literacy. Traditional strategies emphasize financial education to boost financial knowledge, while recently behavioural-based education focus on issues like behavioural biases and emotional influences. This paper suggests a randomized controlled-study to assess if financial education including lessons on heuristics (availability and gambler’s fallacy) enhances financial literacy. Results showed that traditional financial education significantly improved financial literacy, while adding heuristics had effect close to zero. This suggests expanding curricula to address rules-of-thumb may not necessarily improve financial literacy, challenging the notion that more complex financial education is always beneficial.

中文翻译：

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启发法对金融知识重要吗？更好的启发式意识对金融素养的影响


政策制定者越来越注重通过提高金融知识来改善公民的金融福祉。传统策略强调金融教育以提高金融知识，而最近基于行为的教育则侧重于行为偏见和情绪影响等问题。本文建议进行一项随机对照研究，以评估包括启发式课程（可用性和赌徒谬误）在内的金融教育是否可以提高金融素养。结果显示，传统金融教育显着提高了金融素养，而添加启发式教育的效果接近于零。这表明扩大课程范围以解决经验法则不一定能提高金融知识，挑战了更复杂的金融教育总是有益的观念。