How to Increase the Effectiveness of Financial Education:
Lessons from Economics and Psychology

Rockefeller Center (1930 Room), Dartmouth College, Hanover, NH

 

October 16 - 17, 2005

 

ORGANIZER: Annamaria Lusardi     (Dartmouth College and NBER)

 Saving and the Effectiveness of Financial Education
 

PROGRAM

 

October 16, 2005
 

6:30 PM                    

Reception and Dinner (Alden Inn, Lyme)

 

Jeanne Hogarth (Federal Reserve Board)
 
October 17, 2005
 

8:00 - 8:30 AM                    

Coffee and Pastries

8:30 - 9:00 AM

Opening Remarks

 

 

Andrew Samwick (Dartmouth College)
     

 

George Daly (Georgetown Business School)

 

 

9:00 - 10:00 AM

 

 

Converting the Unconverted

 

Punam Keller (Tuck School of Business)

                                               

 

  Psychological Impediments to Retirement Planning

 

Elke Weber

(Columbia University, Graduate School of Business and Dept. of Psychology)

                        

10:00 - 10:15 AM

Discussion and Applications

                 

 

Nava Ashraf (Harvard Business School)

 

Julie Agnew (College of William and Mary, School of Business)

 

Jonathan Zinman (Dartmouth College)

 

  Moderator:
Annamaria Lusardi
(Dartmouth College)

                  

10:15 - 10:30 AM

Coffee Break

 

 

10:30 - 11:20 AM

 

 

  Do people know basic Economics?

 

Olivia Mitchell (University of Philadelphia, Wharton School)

 

  Do people know enough Economics to stay out of troubles?

 

Lew Mandell (SUNY-Buffalo, School of Management)

 

 

Moderator:
John Gannon
(NASD)

11:20 - 11:45 PM

Regulatory Challenges in Financial Education

 

 

Howell Jackson (Harvard Law School)

 

 

11:45 - 1:00 PM

Lunch break

 

  Luncheon speakers: Book Authors

 

 

Zvi Bodie (Boston University, School of Management)
    Prof. Bodie will discuss his experience in writing “Worry Free Investing: A Safe Approach to Achieving Your Lifetime Financial Goals.”

 

Michael Pompian (Wealth Management Advisor)
    Mr Pompian is writing a book that identifies and explains behavioral biases that plague individual investors. He will review some of these biases.

 

Moderator:
Olivia Mitchell
(University of Pennsylvania, Wharton School)

                    

 

1:00 - 2:20 PM

 

Financial Education and Planning

 

Robert Clark (North Carolina State University, School of Management)

 

 

Craig Copeland (Employee Benefit Research Institute)

 

Saving and Investment Decisions

 

Arie Kapteyn (Labor and Population Program & Roybal Center for Financial Decision Making, RAND)

 

Sarah Holden and
Jack VanDerhei
(Investment Company Institute)  /   (Temple University /  EBRI)

 

 

2:20 - 3:00 PM

Roundtable discussion

 

 

Sunil Bhatia (LTSave, Inc)

 

Jon Dauphine (AARP)

 

Judy Morrison (Fidelity)

 

Steve Utkus (Vanguard)

 

David Wray (Profit Sharing/401(k)s Council of America)

 

Moderator:
Jonathan Skinner
(Dartmouth College)

 

 

3:00 PM

Tea/Coffee Reception