A Multi-Method Exploration of the Relationship between Knowledge and Risk: The Impact on Millennials’ Retirement Investment Decisions
Journal of Marketing Theory and Practice
The millennial cohort has faced a unique environment that may have a lasting impact on the financial investment decisions they make as adults. A multimethod set of studies investigates how knowledge and risk interact to inform millennial retirement investment choices. Study 1 suggests a decline in risk-taking for those with low confidence in their financial knowledge. Study 2 reveals that low financial literacy enhances susceptibility to the influence of “feelings as information” when making retirement decisions. Study 3 utilizes qualitative data to consider the connection between millennial financial decision making and the climate of risk brought on by the Great Recession.
Larson, Lindsay, Jacqueline K. Eastman, Dora E. Bock.
"A Multi-Method Exploration of the Relationship between Knowledge and Risk: The Impact on Millennials’ Retirement Investment Decisions."
Journal of Marketing Theory and Practice, 24 (1): 72-90.