Consumer Protection

Against Financial Literacy Education ArXiv ID: ssrn-1105384 “View on arXiv” Authors: Unknown Abstract The dominant model of regulation in the United States for consumer credit, insurance, and investment products is disclosure and unfettered choice. As these pro Keywords: Regulatory Policy, Consumer Protection, Disclosure Regulation, Behavioral Finance, Multi-Asset Complexity vs Empirical Score Math Complexity: 0.0/10 Empirical Rigor: 2.0/10 Quadrant: Philosophers Why: The paper is a legal and policy analysis arguing against financial literacy education, with no mathematical formulas or statistical modeling. Its empirical rigor is low as it relies on conceptual arguments and literature review rather than original data analysis or backtesting. flowchart TD A["Research Question: Is financial literacy education effective for consumer protection?"] --> B B["Key Methodology: Analysis of regulatory policy & behavioral finance literature"] --> C C["Data Inputs: Disclosure regulations, multi-asset product markets, consumer choice data"] --> D D["Computational Process: Causal inference & counterfactual analysis"] --> E E["Key Findings: Disclosure-based regulation insufficient; literacy education may misrepresent risk"] --> F["Outcomes: Policy recommendation against mandatory financial literacy education"]

Financial Literacy: If it’s so Important, Why Isn’t it Improving? ArXiv ID: ssrn-923557 “View on arXiv” Authors: Unknown Abstract Financial literacy has assumed greater importance in our society as the result of the increasing complexity of financial products and the simultaneous cutting o Keywords: Financial Literacy, Consumer Protection, Financial Products, Behavioral Economics, Education, Multi-Asset / Personal Finance Complexity vs Empirical Score Math Complexity: 1.0/10 Empirical Rigor: 2.0/10 Quadrant: Philosophers Why: The paper’s focus is on survey data and socioeconomic analysis rather than advanced mathematical modeling or backtest-ready quantitative strategies. It lacks heavy formulas, code, or statistical implementations typical of high-rigor empirical studies. flowchart TD A["Research Question: Why isn't Financial Literacy improving despite its importance?"] --> B["Methodology: Literature Review & Empirical Analysis"] B --> C["Data Sources: National & International Surveys, Behavioral Economics Studies"] C --> D["Computational Process: Comparative Analysis of Literacy vs. Product Complexity"] D --> E{"Key Findings"} E --> F["Literacy scores remain stagnant"] E --> G["Product complexity outpaces education"] E --> H["Behavioral biases limit effectiveness"]