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Source: Journal of Consumer Affairs
Resulting in 9 citations.
1. Dolinsky, Arthur Lewis
Caputo, Richard K.
Psychological and Demographic Characteristics as Determinants of Women's Health Insurance Coverage
Journal of Consumer Affairs 31,2 (Winter 1997): 218-237
Cohort(s): Young Women
Publisher: American Council on Consumer Interests (ACCI)
Keyword(s): Benefits, Insurance; Demography; Health/Health Status/SF-12 Scale; Marital Status; Psychological Effects; Women's Studies

Permission to reprint the abstract has not been received from the publisher.

The study examines the role of demographic and psychological characteristics in determining women's healthcare insurance coverage. To assess the role of these characteristics, data from the National Longitudinal Survey of Labor Market Experience (NLSLME), Young Women's Cohort, were used considering both a married and not married subsample. Overall, the results indicate that in addition to the influence of previously examined demographic characteristics, the role of psychological attributes is substantial particularly for the not married subsample. Findings suggest that in addition to policy aimed at increasing health insurance coverage by way of considering demographic characteristics policy should also consider psychological attributes.
Bibliography Citation
Dolinsky, Arthur Lewis and Richard K. Caputo. "Psychological and Demographic Characteristics as Determinants of Women's Health Insurance Coverage." Journal of Consumer Affairs 31,2 (Winter 1997): 218-237.
2. Heckman, Stuart J.
Montalto, Catherine Phillips
Consumer Risk Preferences and Higher Education Enrollment Decisions
Journal of Consumer Affairs 52,1 (Spring 2018): 166-196.
Also: https://onlinelibrary.wiley.com/doi/abs/10.1111/joca.12139
Cohort(s): NLSY97
Publisher: American Council on Consumer Interests (ACCI)
Keyword(s): College Enrollment; Human Capital; Risk-Taking

Permission to reprint the abstract has not been received from the publisher.

Although there are widespread concerns that consumers are making poor choices regarding higher education, the fact that human capital investments are risky is often overlooked in the national conversation. Therefore, this research investigates the effect of risk preferences on higher education enrollment decisions. A sample from the 1997 cohort of the National Longitudinal Survey of Youth (NLSY97) was analyzed, and the results indicate that consumer risk preferences have a significant effect on the likelihood of enrollment. Specifically, there was a robust, positive relationship between risk tolerance and the likelihood of enrollment even after controlling for time preferences and risk perceptions. Consistent with previous findings, ability, parental education, family net worth and income, and being female were positively associated with the likelihood of enrollment. The results suggest that risk preferences may be an important source of omitted variable bias in previous studies of higher education investment choices.
Bibliography Citation
Heckman, Stuart J. and Catherine Phillips Montalto. "Consumer Risk Preferences and Higher Education Enrollment Decisions." Journal of Consumer Affairs 52,1 (Spring 2018): 166-196.
3. Letkiewicz, Jodi C.
Fox, Jonathan
Conscientiousness, Financial Literacy, and Asset Accumulation of Young Adults
Journal of Consumer Affairs 48,2 (Summer 2014): 274-300.
Also: http://onlinelibrary.wiley.com/doi/10.1111/joca.12040/abstract
Cohort(s): NLSY97
Publisher: American Council on Consumer Interests (ACCI)
Keyword(s): Assets; Financial Literacy; Net Worth; Personality/Big Five Factor Model or Traits

Permission to reprint the abstract has not been received from the publisher.

This study utilizes the 1997 National Longitudinal Survey of Youth to examine the relationship between financial literacy, conscientiousness, and asset accumulation among young adults. Findings indicate that both conscientiousness and financial literacy are consistent predictors of asset accumulation among young Americans. A one-standard-deviation increase in conscientiousness is correlated with a 40% increase in net worth, a 53% increase in illiquid asset holdings, and a 33% increase in liquid asset holdings. A one-standard-deviation increase in financial literacy is correlated with a 60% increase in illiquid asset holdings and a 30% increase in liquid asset holdings. Financial literacy moderates the effect of conscientiousness on net worth. These findings suggest that conscientiousness and financial literacy are important factors and that policies and programming with a dual emphasis on increasing conscientiousness and financial literacy are likely to have a positive impact on consumer savings and asset-building.
Bibliography Citation
Letkiewicz, Jodi C. and Jonathan Fox. "Conscientiousness, Financial Literacy, and Asset Accumulation of Young Adults." Journal of Consumer Affairs 48,2 (Summer 2014): 274-300.
4. Letkiewicz, Jodi C.
Heckman, Stuart J.
Homeownership among Young Americans: A Look at Student Loan Debt and Behavioral Factors
Journal of Consumer Affairs 52,1 (Spring 2018): 88-114.
Also: https://onlinelibrary.wiley.com/doi/abs/10.1111/joca.12143
Cohort(s): NLSY97
Publisher: American Council on Consumer Interests (ACCI)
Keyword(s): College Cost; Debt/Borrowing; Home Ownership; Risk-Taking; Student Loans

Permission to reprint the abstract has not been received from the publisher.

This study uses the National Longitudinal Survey of Youth (1997) to examine the factors that impact homeownership among young adults, with an emphasis on student loan debt. Three key findings arise from the research. First, life cycle and demographic characteristics, such as marital status, education, and income, continue to be strong predictors of homeownership. Married households with a college degree and children are among the most likely to own a home. Second, young adults with student loan debt are no more or less likely to own a home than someone without debt after controlling for a number of factors; however, students who have already paid off their loans are more likely to own a home. Finally, respondents who express a willingness to take risks in finances are more likely to own a home while those who are more conscientious are less likely to own a home.
Bibliography Citation
Letkiewicz, Jodi C. and Stuart J. Heckman. "Homeownership among Young Americans: A Look at Student Loan Debt and Behavioral Factors." Journal of Consumer Affairs 52,1 (Spring 2018): 88-114.
5. Lusardi, Annamaria
Mitchell, Olivia S.
Curto, Vilsa
Financial Literacy Among the Young
Journal of Consumer Affairs 44,2 (Summer 2010): 358-380.
Also: http://onlinelibrary.wiley.com/doi/10.1111/j.1745-6606.2010.01173.x/abstract
Cohort(s): NLSY97
Publisher: American Council on Consumer Interests (ACCI)
Keyword(s): Assets; College Education; Educational Attainment; Family Income; Financial Investments; Financial Literacy; Gender Differences; High School Dropouts; Wealth

Permission to reprint the abstract has not been received from the publisher.

We examined financial literacy among the young using the most recent wave of the 1997 National Longitudinal Survey of Youth. We showed that financial literacy is low; fewer than one-third of young adults possess basic knowledge of interest rates, inflation and risk diversification. Financial literacy was strongly related to sociodemographic characteristics and family financial sophistication. Specifically, a college-educated male whose parents had stocks and retirement savings was about 45 percentage points more likely to know about risk diversification than a female with less than a high school education whose parents were not wealthy. [ABSTRACT FROM AUTHOR]

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Bibliography Citation
Lusardi, Annamaria, Olivia S. Mitchell and Vilsa Curto. "Financial Literacy Among the Young." Journal of Consumer Affairs 44,2 (Summer 2010): 358-380.
6. Mandal, Bidisha
Use of Food Labels as a Weight Loss Behavior
Journal of Consumer Affairs 44,3 (Fall 2010): 516-527.
Also: http://onlinelibrary.wiley.com/doi/10.1111/j.1745-6606.2010.01181.x/abstract
Cohort(s): NLSY79
Publisher: American Council on Consumer Interests (ACCI)
Keyword(s): Behavior; Body Mass Index (BMI); Exercise; Obesity; Weight

Permission to reprint the abstract has not been received from the publisher.

This study investigates the use of food labels as a weight loss behavior compared to regular exercise among middle-aged Americans. After controlling for unobserved heterogeneity women were more likely to read food labels than men and also more successful in losing weight. Label users who did not exercise displayed a slightly greater likelihood of weight loss than those who exercised but did not read food labels. Additionally, those who only read labels were more likely to improve their chances of weight loss by adding exercise to their routines rather than abandoning label usage in favor of exercise.
Bibliography Citation
Mandal, Bidisha. "Use of Food Labels as a Weight Loss Behavior." Journal of Consumer Affairs 44,3 (Fall 2010): 516-527.
7. Mandal, Bidisha
Brady, Michael P.
The Roles of Gender and Marital Status on Risky Asset Allocation Decisions
Journal of Consumer Affairs published online (17 June 2019): DOI: 10.1111/joca.12261.
Also: https://onlinelibrary.wiley.com/doi/10.1111/joca.12261
Cohort(s): NLSY79
Publisher: American Council on Consumer Interests (ACCI)
Keyword(s): Assets; Financial Behaviors/Decisions; Gender; Health and Retirement Study (HRS); Marital Status

Permission to reprint the abstract has not been received from the publisher.

We analyze data on asset allocations in Individual Retirement Accounts to examine the roles of marital status and gender on investment decisions. We utilize data from two birth cohorts to understand the relationship over a wide age range. We find that, in their thirties and early forties, men are more likely to hold a majority of their funds in stocks in Individual Retirement Accounts compared to women. The gender difference disappears around retirement age; however, a significant difference by marital status emerges in that age group. Divorced and widowed individuals are less likely to hold a majority of their funds in stocks compared to married individuals in their sixties. While there exists a positive gap in stock holdings between married men and married women in their thirties, the gender gap is non‐existent among older individuals. Using paired data on stock holdings in the older birth cohort, we show that husbands' and wives' asset allocations in Individual Retirement Accounts are strongly correlated, coinciding with the lack of a gender gap in stock holdings among older couples.
Bibliography Citation
Mandal, Bidisha and Michael P. Brady. "The Roles of Gender and Marital Status on Risky Asset Allocation Decisions." Journal of Consumer Affairs published online (17 June 2019): DOI: 10.1111/joca.12261.
8. Tang, Ning
Like Father Like Son: How Does Parents' Financial Behavior Affect Their Children's Financial Behavior?
Journal of Consumer Affairs 51,2 (Summer 2017): 284-311.
Also: http://onlinelibrary.wiley.com/doi/10.1111/joca.12122/abstract
Cohort(s): Children of the NLSY79, NLSY79, NLSY79 Young Adult
Publisher: American Council on Consumer Interests (ACCI)
Keyword(s): Credit/Credit Constraint; Debt/Borrowing; Financial Behaviors/Decisions; Intergenerational Patterns/Transmission; Parent Supervision/Monitoring; Parent-Child Relationship/Closeness; Parental Influences; Self-Control/Self-Regulation

Permission to reprint the abstract has not been received from the publisher.

This paper investigates the intergenerational influence on financial behavior. Using two national longitudinal studies: the 1979 National Longitudinal Survey Children and Young Adults (NLSCYA) and the 1979 National Longitudinal Survey (NLSY79), we link the financial behavior of 2,520 young adults back to their general self-control skill and their parents' financial behavior conducted during children's adolescence. We find evidence of intergenerational consistency in financial behavior between parents and their children. Results from the generalized structural equation model indicate that parents' financial behavior affects that of their children both directly and indirectly through general self-control skill development. Furthermore, the influence of parents is moderated by parent–child relationship. These findings highlight the importance of parental financial socialization. Its implications are discussed.
Bibliography Citation
Tang, Ning. "Like Father Like Son: How Does Parents' Financial Behavior Affect Their Children's Financial Behavior?" Journal of Consumer Affairs 51,2 (Summer 2017): 284-311.
9. Tang, Ning
Baker, Andrew
Peter, Paula C.
Investigating the Disconnect between Financial Knowledge and Behavior: The Role of Parental Influence and Psychological Characteristics in Responsible Financial Behaviors among Young Adults
Journal of Consumer Affairs 49,2 (Summer 2015): 376-406.
Also: http://onlinelibrary.wiley.com/doi/10.1111/joca.12069/abstract
Cohort(s): NLSY97
Publisher: Wiley Online
Keyword(s): Financial Behaviors/Decisions; Financial Literacy; Gender Differences; Parental Influences; Self-Control/Self-Regulation

Permission to reprint the abstract has not been received from the publisher.

Financial knowledge is an essential component in financial decision making; however, knowledge is insufficient to ensure responsible financial behavior. We investigate the weak association between financial knowledge and behavior by simultaneously testing the roles financial knowledge, parental influence, and individual psychological characteristics (self-discipline and thoroughness) play in young adults' financial behaviors. Results from 2,712 respondents from the 1997 National Longitudinal Survey of Youth confirm there is a weak association between financial knowledge and behavior. Parental influence and self-discipline positively associate with responsible financial behavior. We also investigate the moderating role of gender and observe that financial knowledge and parental influence improve women's financial behavior more than men, whereas being thorough has a larger impact among males. These findings suggest that considering social and individual psychological factors in financial education programs could improve program efficiency. The results also highlight the importance of adopting tailored financial education to suit gender differences.
Bibliography Citation
Tang, Ning, Andrew Baker and Paula C. Peter. "Investigating the Disconnect between Financial Knowledge and Behavior: The Role of Parental Influence and Psychological Characteristics in Responsible Financial Behaviors among Young Adults." Journal of Consumer Affairs 49,2 (Summer 2015): 376-406.