Swedish House of Finance conference on “Consumer Behavior in Financial Markets

Conference dates

24 Aug 2020 - 25 Aug 2020


Online conference via Zoom


Swedish House of Finance
Annual Conference 24 – 26 August 2020

(Online conference via Zoom – please register at https://www.hhs.se/en/houseoffinance/)

"Consumer Behavior in Financial Markets"

As retail financial markets grow increasingly opaque and the responsibility for financial planning shifts more towards individuals, greater and greater amounts of financial sophistication are required just to make ordinary household financial decisions. At the same time, a large body of work in behavioral economics and psychology demonstrates that people hold biased self-perceptions. These biases are likely to be especially important in the domain of household finance, where simple heuristics are used in complex decision environments, and where meaningful feedback about the efficacy of these heuristics is noisy and infrequent. In such environments, individuals can persistently hold (and act on) mistaken beliefs about their own financial acumen.

This online conference brings together some of the leaders in the field of household and behavioral finance and decision-making for a three-day conference. The first conference day will feature keynote presentations and a panel with leading scholars and practitioners. The second and third day of the conference follow a standard academic format and will focus on high-quality research at the intersection of household and behavioral finance, individual decision-making and choice architecture.

Monday 15.00 – 15:15 Opening Remarks
Monday 15:15-15:45 Keynote presentation Olivia Mitchell (Wharton School University of Pennsylvania)
"Building Better Retirement Systems in the Wake of the Global Pandemic"
Monday 15:45 – 16:15 Keynote presentation Luis M. Viceira (Harvard Business School)
"Building Portfolios for Long-Horizon Investors"
Monday 16:15 – 16:45 Keynote presentation Annamaria Lusardi (The George Washington University School of Business)
"The P-Fin Index: Four Years of Data to Understand Personal Finance in America"
Monday 16:45-17:15 Keynote presentation Terrance Odean (Haas School of Business)
"Mediating Investor Attention"
Monday 17:15-17:45 Panel Discussion "How can consumer welfare be improved in the financial markets?"
Panel: Sven Hagströmer (Creades), Daniel Barr (Swedish Pension Authority), Erik Thedeén (Finansinspektionen, Swedish FSA), Ninni Franceschi (Nordea) Moderator: Anders Anderson & Paolo Sodini, Swedish House of Finance
Monday 17:45-18:00 Concluding Remarks

Tuesday 15:00 – 15:40 "Do Women Get Worse Financial Advice?"
Utpal Bhattacharya (Hong Kong University of Science and Technology), Amit Kumar (Hong Kong University of Science and Technology), Sujata Visaria (Hong Kong University of Science and Technology) and Jing Zhao (Hong Kong Polytechnic University)
Discussant: Tabea Bucher-Koenen (ZEW)
Tuesday 15:40- 16:20 "From Patriarchy to Partnership: Gender Equality and Household Finance"
Luigi Guiso (Einaudi Institute for Economics and Finance) and Luana Zaccaria (Einaudi Institute for Economics and Finance)
Discussant: Anastasia Girshina (Swedish House of Finance at the Stockholm School of Economics
Tuesday 16:20-17:00 "Financial Media as a Money Doctor: Evidence from Refinancing Decisions"
Lin Hu (Australian National University) Kun Li (Australian National University) Phong Ngo (Australian National University) and Denis Sosyura (Arizona State University)
Discussant: Kasper Meisner Nielsen (Copenhagen Business School)
Tuesday 17:00-17:40 "Mind the App: Mobile Access to Financial Information and Consumer Behavior"
Yaron Levi (Marshall School of Business, University of Southern California) and Shlomo Benartzi (Anderson School of Management University of California, Los Angeles)
Discussant: Francesco D'Acunto (Boston College, Carroll School of Management)

Wednesday 15:00 – 15:40 "The Effect of Product-Specific Financial Education on Purchase Decision"
Olga Balakina (Lund University/Aarhus University) Aditi Dimri (University of Warwick) Vimal Balasubramaniam (Queen Mary University of London, and CEPR) and Renuka Sane (Institute of Public Finance and Policy)
Discussant: Ansgar Walther (Imperial College London)
Wednesday 15:40 – 16:20 "Exploited by Complexity"
Paul Gao (University of Notre Dame) Allen Hu (Yale School of Management), Peter Kelly University of Notre Dame), Cameron Peng (London School of Economics), and Ning Zhu (Shanghai Advanced Institute of Finance)
Discussant: Petra Vokata (Ohio State University)
Wednesday 16:20-17:00 "Retirement Savings Adequacy in U.S. Defined Contribution Plans"
Francisco Gomes (London Business School) Kenton Hoyem Wei-Yin Hu (Edelman Financial Engines) Enrichetta Ravina (Kellogg School of Management)
Discussant: Giulio Fella (Queen Mary University of London)
Wednesday 17:00-17:40 "Leveraging Overconfidence"
Brad M. Barber (Graduate School of Management UC) Davis Xing Huang (Olin Business School Washington University) Jeremy Ko (Securities and Exchange Commission) and Terrance Odean (Haas School of Business University of California, Berkeley)
Discussant: Yigitcan Karabulut (Frankfurt School of Finance & Management and CEPR)