Financial literacy and nudge: the role of socioeconomic status in economic decision–making

Autores
Mercer, Antonio Carlos; Nogas, Erika Mirian
Año de publicación
2025
Idioma
inglés
Tipo de recurso
documento de conferencia
Estado
versión aceptada
Descripción
This theoretical essay examines the interplay of financial literacy, nudges, and socioeconomic status (SES) in shaping financial decision–making, advancing discourse in behavioral economics and finance. This essay posits that nudge effectiveness is moderated by financial literacy and SES, with cognitive load and structural barriers as key mediators. Synthesizing literature, the paper highlights that lower SES individuals benefit from simplified nudges like default savings plans, while higher SES individuals respond to complex, informational nudges (Madrian& Shea, 2001; Benartzi et al., 2017). Empirical evidence, including studies on cognitive scarcity and financial education, supports the need for tailored interventions (Mani et al., 2013; Kaiser &Menkhoff, 2017). The framework addresses counterarguments, affirming that SES–specific nudges outperform universal designs despite individual variations (Sunstein, 2014). Policy implications emphasize segmented strategies—defaults for lower SES, detailed options for higher SES—integrated with accessible education and technology to bridge digital divides (Buchak et al., 2018). Trust and cultural factors further refine nudge design (Bertrand et al., 2006; Hofstede, 1980). Future research should test these interactions longitudinally. By aligning interventions with socioeconomic realities, the essay offers a robust foundation for equitable financial policies, promoting inclusion and reducing inequality
Fil: Nogas, Erika Mirian. Pontificia Universidad Católica de Paraná; Brasil.
Fil: Mercer, Antonio Carlos. Pontificia Universidad Católica de Paraná; Brasil.
Materia
Accounting
Economics
Socio-economic analysis
Economic policy
Decision making
Social factors
Contabilidad
Economía
Análisis socioeconómico
Política económica
Toma de decisiones
Factor social
Comptabilité
Economie
Analyse socio-économique
Politique économique
Prise de décision
Facteur social
Contabilidad general o financiera
Nivel de accesibilidad
acceso abierto
Condiciones de uso
http://creativecommons.org/licenses/by/4.0/
Repositorio
Repositorio Digital (UNVM)
Institución
Universidad Nacional de Villa María
OAI Identificador
oai:biblio.unvm.edu.ar:48178
Acceder
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oai_identifier_str oai:biblio.unvm.edu.ar:48178
network_acronym_str RDUNVM
repository_id_str 4256
network_name_str Repositorio Digital (UNVM)
spelling Financial literacy and nudge: the role of socioeconomic status in economic decision–makingMercer, Antonio CarlosNogas, Erika MirianAccountingEconomicsSocio-economic analysisEconomic policyDecision makingSocial factorsContabilidadEconomíaAnálisis socioeconómicoPolítica económicaToma de decisionesFactor socialComptabilitéEconomieAnalyse socio-économiquePolitique économiquePrise de décisionFacteur socialContabilidad general o financieraThis theoretical essay examines the interplay of financial literacy, nudges, and socioeconomic status (SES) in shaping financial decision–making, advancing discourse in behavioral economics and finance. This essay posits that nudge effectiveness is moderated by financial literacy and SES, with cognitive load and structural barriers as key mediators. Synthesizing literature, the paper highlights that lower SES individuals benefit from simplified nudges like default savings plans, while higher SES individuals respond to complex, informational nudges (Madrian& Shea, 2001; Benartzi et al., 2017). Empirical evidence, including studies on cognitive scarcity and financial education, supports the need for tailored interventions (Mani et al., 2013; Kaiser &Menkhoff, 2017). The framework addresses counterarguments, affirming that SES–specific nudges outperform universal designs despite individual variations (Sunstein, 2014). Policy implications emphasize segmented strategies—defaults for lower SES, detailed options for higher SES—integrated with accessible education and technology to bridge digital divides (Buchak et al., 2018). Trust and cultural factors further refine nudge design (Bertrand et al., 2006; Hofstede, 1980). Future research should test these interactions longitudinally. By aligning interventions with socioeconomic realities, the essay offers a robust foundation for equitable financial policies, promoting inclusion and reducing inequalityFil: Nogas, Erika Mirian. Pontificia Universidad Católica de Paraná; Brasil.Fil: Mercer, Antonio Carlos. Pontificia Universidad Católica de Paraná; Brasil.2025info:eu-repo/semantics/conferenceObjectinfo:eu-repo/semantics/acceptedVersionhttp://purl.org/coar/resource_type/c_5794info:ar-repo/semantics/documentoDeConferenciaapplication/pdfhttp://biblio.unvm.edu.ar/opac_css/index.php?lvl=cmspage&pageid=9&id_notice=481784817820251110u u u0argy0103 baeng1020191Villa María (inhabited place)info:eu-repo/semantics/openAccesshttp://creativecommons.org/licenses/by/4.0/Creative Commons Attribution 4.0 International (CC BY 4.0)reponame:Repositorio Digital (UNVM)instname:Universidad Nacional de Villa María2025-11-13T09:44:13Zoai:biblio.unvm.edu.ar:48178instacron:UNVMInstitucionalhttp://biblioteca.unvm.edu.ar/Repositorio/index.htmlUniversidad públicaNo correspondehttp://biblio.unvm.edu.ar/ws/PMBOAI ggomez@unvm.edu.ar;gustavo0306@gmail.comArgentinaNo correspondeNo correspondeNo correspondeopendoar:42562025-11-13 09:44:14.098Repositorio Digital (UNVM) - Universidad Nacional de Villa Maríafalse
dc.title.none.fl_str_mv Financial literacy and nudge: the role of socioeconomic status in economic decision–making
title Financial literacy and nudge: the role of socioeconomic status in economic decision–making
spellingShingle Financial literacy and nudge: the role of socioeconomic status in economic decision–making
Mercer, Antonio Carlos
Accounting
Economics
Socio-economic analysis
Economic policy
Decision making
Social factors
Contabilidad
Economía
Análisis socioeconómico
Política económica
Toma de decisiones
Factor social
Comptabilité
Economie
Analyse socio-économique
Politique économique
Prise de décision
Facteur social
Contabilidad general o financiera
title_short Financial literacy and nudge: the role of socioeconomic status in economic decision–making
title_full Financial literacy and nudge: the role of socioeconomic status in economic decision–making
title_fullStr Financial literacy and nudge: the role of socioeconomic status in economic decision–making
title_full_unstemmed Financial literacy and nudge: the role of socioeconomic status in economic decision–making
title_sort Financial literacy and nudge: the role of socioeconomic status in economic decision–making
dc.creator.none.fl_str_mv Mercer, Antonio Carlos
Nogas, Erika Mirian
author Mercer, Antonio Carlos
author_facet Mercer, Antonio Carlos
Nogas, Erika Mirian
author_role author
author2 Nogas, Erika Mirian
author2_role author
dc.subject.none.fl_str_mv Accounting
Economics
Socio-economic analysis
Economic policy
Decision making
Social factors
Contabilidad
Economía
Análisis socioeconómico
Política económica
Toma de decisiones
Factor social
Comptabilité
Economie
Analyse socio-économique
Politique économique
Prise de décision
Facteur social
Contabilidad general o financiera
topic Accounting
Economics
Socio-economic analysis
Economic policy
Decision making
Social factors
Contabilidad
Economía
Análisis socioeconómico
Política económica
Toma de decisiones
Factor social
Comptabilité
Economie
Analyse socio-économique
Politique économique
Prise de décision
Facteur social
Contabilidad general o financiera
dc.description.none.fl_txt_mv This theoretical essay examines the interplay of financial literacy, nudges, and socioeconomic status (SES) in shaping financial decision–making, advancing discourse in behavioral economics and finance. This essay posits that nudge effectiveness is moderated by financial literacy and SES, with cognitive load and structural barriers as key mediators. Synthesizing literature, the paper highlights that lower SES individuals benefit from simplified nudges like default savings plans, while higher SES individuals respond to complex, informational nudges (Madrian& Shea, 2001; Benartzi et al., 2017). Empirical evidence, including studies on cognitive scarcity and financial education, supports the need for tailored interventions (Mani et al., 2013; Kaiser &Menkhoff, 2017). The framework addresses counterarguments, affirming that SES–specific nudges outperform universal designs despite individual variations (Sunstein, 2014). Policy implications emphasize segmented strategies—defaults for lower SES, detailed options for higher SES—integrated with accessible education and technology to bridge digital divides (Buchak et al., 2018). Trust and cultural factors further refine nudge design (Bertrand et al., 2006; Hofstede, 1980). Future research should test these interactions longitudinally. By aligning interventions with socioeconomic realities, the essay offers a robust foundation for equitable financial policies, promoting inclusion and reducing inequality
Fil: Nogas, Erika Mirian. Pontificia Universidad Católica de Paraná; Brasil.
Fil: Mercer, Antonio Carlos. Pontificia Universidad Católica de Paraná; Brasil.
description This theoretical essay examines the interplay of financial literacy, nudges, and socioeconomic status (SES) in shaping financial decision–making, advancing discourse in behavioral economics and finance. This essay posits that nudge effectiveness is moderated by financial literacy and SES, with cognitive load and structural barriers as key mediators. Synthesizing literature, the paper highlights that lower SES individuals benefit from simplified nudges like default savings plans, while higher SES individuals respond to complex, informational nudges (Madrian& Shea, 2001; Benartzi et al., 2017). Empirical evidence, including studies on cognitive scarcity and financial education, supports the need for tailored interventions (Mani et al., 2013; Kaiser &Menkhoff, 2017). The framework addresses counterarguments, affirming that SES–specific nudges outperform universal designs despite individual variations (Sunstein, 2014). Policy implications emphasize segmented strategies—defaults for lower SES, detailed options for higher SES—integrated with accessible education and technology to bridge digital divides (Buchak et al., 2018). Trust and cultural factors further refine nudge design (Bertrand et al., 2006; Hofstede, 1980). Future research should test these interactions longitudinally. By aligning interventions with socioeconomic realities, the essay offers a robust foundation for equitable financial policies, promoting inclusion and reducing inequality
publishDate 2025
dc.date.none.fl_str_mv 2025
dc.type.none.fl_str_mv info:eu-repo/semantics/conferenceObject
info:eu-repo/semantics/acceptedVersion
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info:ar-repo/semantics/documentoDeConferencia
format conferenceObject
status_str acceptedVersion
dc.identifier.none.fl_str_mv http://biblio.unvm.edu.ar/opac_css/index.php?lvl=cmspage&pageid=9&id_notice=48178
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identifier_str_mv 48178
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dc.language.none.fl_str_mv eng
language eng
dc.rights.none.fl_str_mv info:eu-repo/semantics/openAccess
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Creative Commons Attribution 4.0 International (CC BY 4.0)
eu_rights_str_mv openAccess
rights_invalid_str_mv http://creativecommons.org/licenses/by/4.0/
Creative Commons Attribution 4.0 International (CC BY 4.0)
dc.format.none.fl_str_mv application/pdf
dc.coverage.none.fl_str_mv 1020191
Villa María (inhabited place)
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reponame_str Repositorio Digital (UNVM)
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instname_str Universidad Nacional de Villa María
repository.name.fl_str_mv Repositorio Digital (UNVM) - Universidad Nacional de Villa María
repository.mail.fl_str_mv ggomez@unvm.edu.ar;gustavo0306@gmail.com
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