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Social preferences, financial literacy and intertemporal choice

Da Silva, Sergio and De Faveri, Dinorá and Correa, Ana and Matsushita, Raul (2017): Social preferences, financial literacy and intertemporal choice.

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Abstract

We evaluate the relationship between social preferences, financial literacy and intertemporal choice in questionnaires distributed to university students. Most respondents perform well on a financial literacy test, and the majority show prosocial value orientation. Older students tend to be more prosocial, but we cannot confirm in our sample that females are more prosocial than males. We cannot confirm, either, that the prosocial are more financially literate than individualists and the competitive. Most respondents do not show hyperbolic discounting, and its incidence abates as both stakes and payoff delays increase. Prosocial participants also reveal to be more patient across the questionnaires.

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