In this episode, Professor Annamaria Lusardi, Professor of Finance at Stanford University and founder of the Global Financial Literacy Excellence Center, joins Professor Sally Gainsbury to discuss financial literacy, financial decision-making, and what gambling can reveal about the limits of financial capability. Their conversation explores why basic financial knowledge matters, including compound interest, inflation, risk, and diversification, while also considering the role knowledge plays in behavioural change.

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Show notes and links:

• Professor Annamaria Lusardi: https://annamarialusardi.com/

• Lusardi & Mitchell’s “Big Three” financial literacy measure: Lusardi, Annamaria, and Olivia S. Mitchell. 2014. "The Economic Importance of Financial Literacy: Theory and Evidence." Journal of Economic Literature 52 (1): 5–44.DOI: 10.1257/jel.52.1.5

• Stanford Initiative for Financial Decision-Making: https://ifdm.stanford.edu/

• IFDM Big Three Financial Literacy Questions: https://ifdm.stanford.edu/the-big-three/quiz

• IFDM financial calculators and educational resources: https://ifdm.stanford.edu/resourcehub

• Book: Mellody Hobson, Priceless Facts about Money