Annamaria Lusardi

TL;DR: The authors examined whether investors who are more financially knowledgeable earn more on their retirement plan investments compared to their less sophisticated counterparts, and found that risk-adjusted annual expected returns are 130 basis points higher for the most financially knowledgeable employees, and those scoring higher on their Financial Knowledge Index have slightly more volatile portfolios while they do no better diversifying their portfolios than their peers.

TL;DR: A method for experimentally evaluating interventions designed to improve the quality of choices in settings where people imperfectly comprehend consequences is introduced, which yields an intuitive sufficient statistic for welfare that admits formal interpretations even when consumers suffer from biases outside the scope of analysis.

TL;DR: This paper introduced a method for measuring the quality of financial decision making built around a notion of financial competence, which gauges the alignment between individuals' choices and those they would make if they properly understood their opportunities.

TL;DR: This paper found that women tend to disproportionately respond "do not know" to questions measuring financial knowledge, but when this response option is unavailable, they often choose the correct answer, and about one-third of the financial literacy gender gap can be explained by women's lower confidence levels.