From Novice to Know-It-All: How Google-Based Financial Learning Affects Financial Confidence and Decisions
The Internet has become a primary source of information about investing. However, Google inflates people’s sense of financial knowledge (Experiment 1). This Google-induced overconfidence makes people bet more on their own financial decisions without improving actual performance (Experiment 1) and deviate from professional recommendations, towards riskier investments (Experiment 2).
Citation:
Adrian Ward, Tito L. H. Grillo, and Philip M. Fernbach (2018) ,"From Novice to Know-It-All: How Google-Based Financial Learning Affects Financial Confidence and Decisions", in NA - Advances in Consumer Research Volume 46, eds. Andrew Gershoff, Robert Kozinets, and Tiffany White, Duluth, MN : Association for Consumer Research, Pages: 23-27.
Authors
Adrian Ward, University of Texas at Austin, USA
Tito L. H. Grillo, University of Texas at Austin, USA
Philip M. Fernbach, University of Colorado, USA
Volume
NA - Advances in Consumer Research Volume 46 | 2018
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