Mobile Apps and Financial Decision Making

Bruce Carlin; Arna Olafsson; Michaela Pagel

doi:10.1093/rof/rfac040

Mobile Apps and Financial Decision Making

Bruce Carlin
, Arna Olafsson
, Michaela Pagel

Research output: Contribution to journal › Article › peer-review

15 Scopus citations

Abstract

We exploit the release of a mobile application for a financial aggregation platform to analyze how technology adoption changes consumer financial decision making. The app reduced the cost of accessing personal financial information, and we find that this led to a drop in non-sufficient fund fees. Because of the manner in which these fees are incurred, this represents an unambiguous welfare improvement for users of the platform. The leading explanation for this result appears to be mistake avoidance due to easier access to information.

Original language	English
Pages (from-to)	977-996
Number of pages	20
Journal	Review of Finance
Volume	27
Issue number	3
DOIs	https://doi.org/10.1093/rof/rfac040
State	Published - May 1 2023

Keywords

Access to Financial Information
Attention to Personal Finances
Bank Data
Bank Fees
Financial Mistakes
Household Finance
Mobile Apps

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10.1093/rof/rfac040

Cite this

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KW - Attention to Personal Finances

KW - Bank Data

KW - Bank Fees

KW - Financial Mistakes

KW - Household Finance

KW - Mobile Apps

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Mobile Apps and Financial Decision Making

Abstract

Keywords

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