Understanding Consumer Financial Behavior: Money Management in an Age of Financial Illiteracy

Government policies, marketing campaigns of banks, insurance companies and other financial institutions, and consumers' protective actions all depend on assumptions about consumer financial behavior. Unfortunately, many consumers have no or little knowledge of budgeting, financial products, and financial planning. It is therefore important that organizations and market authorities know why consumers spend, borrow, insure, invest, and save for their retirement - or why they do not. Understanding Consumer Financial Behavior provides a systemic economic and behavioral approach to the way people handle their finances. It discusses the different types of financial behaviors consumers may engage in and explores the psychological explanations for their behavior and choices. This exciting new book is essential reading for scholars of marketing, finance, and management; financial professionals; and consumer policy makers.

Author: W. Fred Van Raaij
Publisher: Palgrave MacMillan
Published: 02/22/2016
Pages: 285
Binding Type: Hardcover
Weight: 1.10lbs
Size: 8.50h x 5.50w x 0.69d
ISBN: 9781137544247

About the Author
W. Fred van Raaij is Emeritus Professor of Economic Psychology at Tilburg University, the Netherlands. He has worked at Tilburg University and Erasmus University of Rotterdam in the Netherlands, and at the University of Illinois at Urbana-Champaign, USA. His research interests are consumer behavior, environmental concerns and energy saving, the financial behavior of consumers and investors, and the effects of marketing communications.

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