This workshop, which was held at HEC Montréal’s new downtown Montreal building, brought together researchers interested in household financial decision-making. Theoretical and empirical papers were welcome. We expected researchers from a variety of disciplines would find this workshop of interest, including economics, finance, risk management, insurance, and psychology. This workshop was held jointly by the Retirement and Savings Institute (RSI) and the Financial Education at HEC Montréal, as well as the Center for the Economic Analysis of Risk (CEAR) at Georgia State University. This was the 4th workshop in this series. Subjects of particular interest included:

  • Consumption-saving decisions and investment choices
  • Financial literacy and education
  • Pensions and retirement
  • Financial planning and advice
  • Financial delinquency and bankruptcy
  • Household insurance and risk management

We typically allocated one hour for each paper (40-minute presentation, 10 minutes for an assigned discussant, and a 10-minute general discussion) to provide participants with the opportunity for an in-depth presentation of their work. All sessions were held in a plenary format.

The Cost of Consumer Collateral: Evidence from Bunching – Cameron Ellis

Household Debt Overhang and Human Capital Investment – Han Xia

Reducing Strategic Default in a Financial Crisis – Barry Scholnick

Health Shocks, Risk Preferences, and Annuity Choices – Abigail Hurwitz

Extrapolators and Contrarians: Forecast Bias and Household Equity Trading – Steffen Andersen

Disentangling the Effects of Financial Inclusion on Household Well-Being – Ashish Sedai

Testing consumption and portfolio choice models with survey experiments – Tullio Jappelli

A, B, or C? Question format and the gender gap in financial literacy – Maddalena Davoli

The Production of Financial Literacy – Sebastian Gomez-Cardona

Skills, Education and Wealth Inequality: the Financial Investments Channel – Raffaele Corvino

Reducing Racial Disparities in Consumer Credit: Evidence from Anonymous Loan – Poorya Kabir

The Online Payday Loan Premium – Filipe Correia

Keynote Speaker

The keynote address will be given by Professor Tullio Jappelli from University of Naples Federico II, where he is a Professor of Economics. Professor Jappelli is Director of the Centre for Studies in Economics and Finance (CSEF) and a Research Fellow of the Centre for Economic Policy Research (CEPR). His main area of research is on consumption, liquidity constraints, intergenerational transfers, household finance and banking. He has published five books on saving and household finance portfolio choice and several papers in professional journals and books. His work has appeared in leading economics journals such as the American Economic Review, the Journal of Political Economy, the Journal of Finance, and the Quarterly Journal of Economics.




Professor Philippe d’Astous (HEC Montréal) is the primary local organizer of this workshop. Should you have questions, please contact him at philippe.dastous@hec.ca about the substance of the workshop and contact Lee Boyle at lee.boyle@hec.ca with questions about participation and logistics.


We expect to cover economy airfares and hotel for speakers but may need to cap funding at a certain amount depending on costs. We will let accepted speakers know if we must cap funding.

Submission of papers

If you are interested in presenting a paper, please submit either the full paper (preferred), or an extended abstract that addresses objectives, methods, results, and conclusions. All submissions should be PDF and need not be blinded.

  • Call for papers now closed.
  • Authors will be notified of the acceptance status of their paper by July 14, 2023, at the latest.