2023
DOI: 10.1111/joca.12563
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What do we really know about “don't know”? Re‐assessing the measurement of financial knowledge

Melissa J. Wilmarth,
Kyoung Tae Kim,
Tae‐Young Pak

Abstract: Survey protocols measuring financial knowledge typically offer a don't know (DK) response option along with factual statements about personal finance. The potential problem of this practice is that a DK response could capture something other than financial knowledge and mislead empirical research on the association between financial knowledge and behavioral outcomes. In this study, we examined whether the current scales are contaminated by systemic personality effects and how reduced validity influences analyt… Show more

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Cited by 4 publications
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