Knowledge Tree
Relations (1)
related 2.00 — strongly supporting 3 facts
Financial literacy and psychological biases are linked through their interaction in investment decision-making, as evidenced by Wendy (2021) [1]. Furthermore, financial literacy is identified as a mitigating factor that reduces the negative impact of psychological biases on financial outcomes [2], [3].
Facts (3)
Sources
The Psychological Drivers of Financial Decision-Making - ijsrm ijsrm.net 2 facts
claimFinancial literacy reduces the impact of psychological biases on the financial decision-making process, thereby enhancing the quality of financial decisions.
claimThe research article 'The Psychological Drivers of Financial Decision-Making' asserts that financial literacy reduces the impact of psychological biases on the financial decision-making process, thereby enhancing the quality of financial decisions.
The influence of psychological factors on investment decision making exsys.iocspublisher.org 1 fact
referenceWendy (2021) investigated the interaction effects of financial literacy on investment decisions, specifically testing for the presence of psychological biases.