The authors model (myopic) habit formation, interdependence of preferences among consumers, and demographic effects as taste shifters in a micro consumer demand model of the almost ideal demand variety. The model is estimated for Dutch micro data. The authors investigate the dynamic properties...

We document strikingly similar gender differences in financial literacy across countries. When asked to answer questions that measure knowledge of basic financial concepts, women are less likely than men to answer correctly and more likely to indicate that they do not know the answer. In...

Individuals are increasingly put in charge of their financial security after retirement. Moreover, the supply of complex financial products has increased considerably over the years. However, we still have little or no information about whether individuals have the financial knowledge and skills...