In this article, we review the literature on financial literacy, education, and consumer outcomes. We consider how literacy is measured in current examine well existing addresses whether education improves or personal discuss extent to which a competitive market provides incentives for firms educate consumers offer products that facilitate informed choice. alternative policies improve outcomes compare evidence with efficacy cost of education. Finally, directions future research.

Journal Article Information, School Choice, and Academic Achievement: Evidence from Two Experiments Get access Justine S. Hastings, Hastings Yale University National Bureau of Economic Research Search for other works by this author on: Oxford Google Scholar Jeffrey M. Weinstein Syracuse The Quarterly Economics, Volume 123, Issue 4, November 2008, Pages 1373–1414, https://doi.org/10.1162/qjec.2008.123.4.1373 Published: 01 2008

We study the impact of a public school choice lottery in Charlotte-Mecklenburg schools on college enrollment and degree completion. find significant overall increase attainment among winners who attend their first-choice school. Using rich administrative data peers, teachers, course offerings, other inputs, we show that impacts are strongly predicted by gains several measures quality. Gains concentrated girls. Girls respond to attending better with higher grades increases college-preparatory...

In their comment, Taylor, Kreisle and Zimmerman use gasoline price data taken from fleet card transactions at selected stations to re-examine a subset of results presented in Hastings (2004). Bringing new the question is helpful contribution. Both sets have limitations, potentially causing differences estimated effect. I worked with authors explore understand how they impact estimates both analyses, conclude that effects sizes are likely smaller areas overlap between two sets.

Abstract We formulate a test of the fungibility money based on parallel shifts in prices different quality grades commodity. embed discrete-choice model product choice and estimate using panel microdata gasoline purchases. find that when rise, consumers substitute to lower octane gasoline, an extent cannot be explained by income effects. Across wide range specifications, we consistently reject null hypothesis households treat “gas money” as fungible with other income. compare empirical fit...

In this article we review the literature on financial literacy, education, and consumer outcomes.We consider how literacy is measured in current literature, examine well existing addresses whether education improves or personal discuss extent to which a competitive market provides incentives for firms educate consumers offer products that facilitate informed choice.We alternative policies improve outcomes, compare evidence efficacy cost of education.Finally, directions future research.

We use a novel retail panel with detailed transaction records to study the effect of Supplemental Nutrition Assistance Program (SNAP) on household spending. administrative data motivate three approaches causal inference. The marginal propensity consume SNAP-eligible food (MPCF) out SNAP benefits is 0.5 0.6. MPCF cash much smaller. These patterns obtain even for households whom are economically equivalent because their below Using semiparametric framework, we reject hypothesis that respect...

Vertical Relationships and Competition in Retail Gasoline Markets: Empirical Evidence from Contract Changes Southern California by Justine S. Hastings. Published volume 94, issue 1, pages 317-328 of American Economic Review, March 2004

This paper examines empirically the relationship between vertical integration and wholesale gasoline prices. We use discrete differential changes in extent of generated by mergers West Coast refining retailing markets to test for incentives raise rivals' costs. The research design allows us a prices, controlling horizontal market structure, cost shocks trends. find evidence consistent with strategic incentive competitors' input suggests that can have significant impact on

Previous research has demonstrated that benefit recipients decrease expenditures on, and consumption of, food throughout the month. Using detailed grocery store scanner data, we ask two questions: whether cycling is due to a desire for variety leads within-month substitution across product quality, driven by countercyclical retail pricing. We find in largely reductions quantity, not prices foods purchased households vary pro-cyclically with demand, implying could save money delaying their...

Two competing explanations for why consumers have trouble with financial decisions are gaining momentum.One is that people financially illiterate since they lack understanding of simple economic concepts and cannot carry out computations such as computing compound interest, which could cause them to make suboptimal decisions.A second impatience or present-bias might explain decisions.That is, some persistently choose immediate gratification instead taking advantage larger long-term...

Abstract Two competing explanations for why consumers have trouble with financial decisions are gaining momentum. One is that people financially illiterate since they lack understanding of simple economic concepts and cannot carry out computations such as computing compound interest, which could cause them to make suboptimal decisions. A second impatience or present-bias might explain That is, some persistently choose immediate gratification instead taking advantage larger long-term payoffs....

We use a large-scale survey and field experiment to evaluate policy that provided information about college-and major-specific earnings cost outcomes college applicants in Chile.The intervention was administered by the Chilean government reached 30% of student loan applicants.We show low-income low-achieving students who apply low-earning degree programs overestimate for past graduates over 100%, while beliefs high-achieving are correctly centered.Treatment causes reduce their demand...

This paper examines how sales force impacts competition and equilibrium prices in the context of a privatized pension market. We use detailed administrative data on fund manager choices worker characteristics at inception Mexico's social security system, where managers had to set (management fees) national level, but could select levels by local geographic areas. develop estimate model choice can increase or decrease customer price sensitivity. find exposure lowered sensitivity, leading...

This paper measures impacts of removing children from families investigated for abuse or neglect. We use removal tendencies child protection investigators as an instrument. Our analysis focuses on young before age 6 and finds that significantly increases test scores reduces grade repetition girls. There are no detectable boys. pattern results does not appear to be driven by heterogeneity in preremoval characteristics, foster placements, types schools attended after removal. The consistent...

Two competing explanations for why consumers have trouble with financial decisions are gaining momentum. One is that people financially illiterate since they lack understanding of simple economic concepts and cannot carry out computations such as computing compound interest, which could cause them to make suboptimal decisions. A second impatience or present-bias might explain That is, some persistently choose immediate gratification instead taking advantage larger long-term payoffs. We use...

This paper explores whether private markets can incentivize environmental stewardship. We examine the consumer response to 2010 BP oil spill and test how BP’s investment in 2000–2008 “Beyond Petroleum” green advertising campaign affected this response. find evidence consistent with punishment: station margins volumes declined by 2.9 cents per gallon 4.2 percent, respectively, month after spill. However, pre-spill significantly dampened price response, may have reduced brand switching...