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α: calibrated so average coauthorship-adjusted count equals average raw count
This study experimentally tests a low-cost, Internet-based,online literacy intervention program implemented with the largest employer-based pension fund in Italy. This program, called Financial Education and Planning for a Long Life (Finlife) included: 1) an online instructional video on financial, and demographic (survival) literacy; 2) an experimental design to evaluate the impact of the online videoprogram on financial and demographic literacy, as well as and on short-term behavioral changes in behavior; and 3) a follow-up to assess the impact of the videoprogram on subsequent choices of available investment lines in the Italian pension fund. Finlife was designed as a low-cost and, scalable approach aimed at increasing financial and demographic survival literacy, which is consistent with a ‘nudge’ philosophy. Based on the findings, Finlife significantly increased the financial and demographic survival literacy of the participants, and pushed them towards seeking more information and becoming more active in financial decisions.