The global financial crisis has drawn the attention of both scholars and supervisors to the issue of financial education as an instrument for the development of efficient markets. The aim of this paper is to test the hypothesis that financial experience, gained with the daily use of different...

The financial system has always been subject to complex public scrutiny for a number of reasons, aimed at ensuring, for example, the efficient mobilization of savings, the effective management of banking crises and their possible domino effects, while enhancing competition and safeguarding...

The role of Annual Percentage Rate (APR) in installment plan selection was investigated. The choice of analyzing APR was motivated by its wide diffusion due to the mandatory disclosure acts. There have been doubts towards consumer understanding of APR. A sample of 299 consumers were given five...

Factors such as the spread of complex financial instruments, the broadening of available alternatives, have fostered more decisive public intervention in support of transparency between banks and their customers. The effectiveness of the public intervention measures depends on the actual...

Existing studies are not conclusive in favor of a strong relationship between the financial literacy and the ability to take better borrowing decisions. Results are quite heterogeneous and often point out the relevance of other factors, such as socio-demographic features or practical experience...