#2380. Cognitive abilities, self-efficacy, and financial behavior

November 2026publication date
Proposal available till 30-05-2025
4 total number of authors per manuscript3510 $

The title of the journal is available only for the authors who have already paid for
Journal’s subject area:
Sociology and Political Science;
Economics and Econometrics;
Applied Psychology;
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Abstract:
The article analyzes the impact of cognitive abilities on the financial behavior of older people. The study is based on the US Health and Retirement Study. The results show that cognitive ability significantly influences financial behavior through two channels: ability and self-efficacy. That being said, the results indicate that people with higher cognitive scores achieve better financial results. A decline in cognitive ability reduces peoples sense of their own effectiveness, which in turn significantly reduces the effectiveness of financial management.
Keywords:
Cognition; Older population; Personal finance; Self-efficacy

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