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).
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.
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
NA - Advances in Consumer Research Volume 46 | 2018
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