Source: RUTGERS, THE STATE UNIVERSITY OF NEW JERSEY submitted to
BEHAVIORAL ECONOMICS AND FINANCIAL DECISION-MAKING AND INFORMATION MANAGEMENT ACROSS THE LIFESPAN
Sponsoring Institution
National Institute of Food and Agriculture
Project Status
NEW
Funding Source
Reporting Frequency
Annual
Accession No.
1001871
Grant No.
(N/A)
Project No.
NJ02240
Proposal No.
(N/A)
Multistate No.
NC-2172
Program Code
(N/A)
Project Start Date
Nov 1, 2013
Project End Date
Sep 30, 2018
Grant Year
(N/A)
Project Director
O'Neill, B, .
Recipient Organization
RUTGERS, THE STATE UNIVERSITY OF NEW JERSEY
3 RUTGERS PLZA
NEW BRUNSWICK,NJ 08901-8559
Performing Department
Agricultural Food & Resource Economics
Non Technical Summary
An understanding of how American households make financial decisions is needed to inform the content and format of financial education programs and public policy. The work of NC 2172 through 9/30/18 will focus on exploring consumer financial decision-making across the lifespan with a focus on three specific decisions related to housing, post-secondary education financing, and the claiming of Social Security benefits at retirement. The NC 2172 research team will use a mixed methods research design, including online surveys and convenience samples, to obtain relevant data. Motivators and barriers in the household financial decision-making process will be explored.
Animal Health Component
80%
Research Effort Categories
Basic
(N/A)
Applied
80%
Developmental
20%
Classification

Knowledge Area (KA)Subject of Investigation (SOI)Field of Science (FOS)Percent
60760203010100%
Knowledge Area
607 - Consumer Economics;

Subject Of Investigation
6020 - The family and its members;

Field Of Science
3010 - Economics;
Goals / Objectives
Determine motivators that affect economic decision-making in specific decision situations (housing, student loans, and Social Security) across the life-span of households Determine barriers that affect economic decision-making in specific decision situations across the life-span of households Determine how motivators and barriers to economic decision-making can be presented in specific decision situations across the life-span of households Suggest strategies that can be used to improve consumer financial decision-making
Project Methods
The methods to be used to achieve the NC 2172 objectives listed above have already been determined by the NC 2172 team. Dr. O'Neill will participate in the planned research project strategies, along with her colleagues, to do the following: analyze existing research to inform data collection; help design experiments and qualitative and quantitative methods of data collection; submit proposals for presentations; write/publish manuscripts and outreach publications.