Mobile Apps and Financial Decision Making-Reference-Cited by-同舟云学术

Mobile Apps and Financial Decision Making

Published:2022-06-29 Issue: Volume: Page:
ISSN:1572-3097
Container-title:Review of Finance
language:en
Short-container-title:

Author:

Carlin Bruce¹,Olafsson Arna²,Pagel Michaela³

Affiliation:

1. Jones School of Business, Rice University, NBER, USA

2. Copenhagen Business School, The Danish Finance Institute, CEPR , Denmark

3. Division of Economics and Finance, Columbia Business School, NBER, and CEPR , USA

Abstract

Abstract We exploit the release of a mobile application for a financial aggregation platform to analyze how technology adoption changes consumer financial decision making. The app reduced the cost of accessing personal financial information, and we find that this led to a drop in non-sufficient fund fees. Because of the manner in which these fees are incurred, this represents an unambiguous welfare improvement for users of the platform. The leading explanation for this result appears to be mistake avoidance due to easier access to information.

Publisher

Oxford University Press (OUP)

Subject

Finance,Economics and Econometrics,Accounting

Link

https://academic.oup.com/rof/advance-article-pdf/doi/10.1093/rof/rfac040/44886899/rfac040.pdf

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