The study aims to assess how financial education on the differences between active and passive mutual funds, their costs, and the concept of time diversification can shape investor preferences. A sample of (around) 1,000 Italian residents participated in a quasi-experimental Randomized Controlled Trial (RCT), in which a control group was compared to different treatment groups exposed to similar (though not identical) financial education interventions. The results show that financial education can not only increase financial literacy but also influence the investment decisions of those who develop a better understanding of these products.
I am a Professor of Finance from the University of Rome (Italy) and my main research interests are on consumer finance, financial literacy, and financial education.
