Is financial literacy a substitute or complement for financial advice? In this paper we analyze the decision by consumers to seek financial advice in the form of credit counseling concerning their credit and debt. Credit counseling is an important component of the consumer credit sector for...

We conduct a field experiment with clients of a German universal bank to explore the impact of peer information on sustainable retail investments. Our results show that information about peers' inclination towards sustainable investing raises the amount allocated to stock funds labeled...

Using the 2015 and 2017 waves of the China Household Finance Survey (CHFS), we measured financial literacy and study its relationship to households' demand for digital finance. We found that a majority of households in the People's Republic of China possess limited financial literacy. The low...