Annamaria Lusardi|Olivia S. Mitchell
How Ordinary Consumers Make Complex Economic Decisions: Financial Literacy and Retirement Readiness
George Washington University|University of Pennsylvania
paper explores financially literate whether people accurately perceive economic decisionmaking skills skills come selfassessed objective measures financial literacy linked consumers efforts plan retirement american life panel causal relationships retirement planning examined exploiting information respondent financial knowledge acquired school results show advanced financial knowledge likely retirementready