Vanessa Gail Perry
Is Ignorance Bliss? Consumer Accuracy in Judgments about Credit Ratings
George Washington University
considerable evidence suggest consumers often misinformed basic financial economic principles purpose study examine accuracy consumers selfassessments credit ratings findings suggest approximately 32 percent consumers overestimate credit ratings 4 percent underestimate credit ratings overestimate credit quality less knowledgeable financial matters general likely acquired financial knowledge difficult past experiences addition consumers overestimate credit ratings less likely budget save invest regularly