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on Financial Literacy and Education |
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Issue of 2024–12–23
two papers chosen by Viviana Di Giovinazzo, Università degli Studi di Milano-Bicocca |
| By: | YUVRAJ SUNECHER (UNIVERSITY OF TECHNOLOGY MAURITIUS); Mevin Luchoo (University of Technology Mauritius) |
| Abstract: | This study investigates the degree of financial awareness and literacy in Mauritius. A survey was conducted to find out about the population's understanding of financial products, investment alternatives, borrowing, saving, investing, and financial abilities. The population's degree of savings knowledge is high, whereas their understanding of general finance, investments, and insurance is low to average, according to the study's conclusion. This study also looks into the population's financial literacy and awareness as well as the steps that the appropriate authorities should take to make sure that people are taught not only how to budget and save money but also how to invest in assets, protect their finances, and?most importantly?how to manage their money sensibly by forming good financial habits. |
| Keywords: | Financial Literacy, Population, Awareness, Mauritius |
| URL: | https://d.repec.org/n?u=RePEc:sek:iefpro:14716502 |
| By: | Shuoling Liu; Gaoguo Jia; Yuhang Jiang; Liyuan Chen; Qiang Yang |
| Abstract: | Large Language Models (LLMs) have achieved remarkable success recently, displaying exceptional capabilities in creating understandable and organized text. These LLMs have been utilized in diverse fields, such as clinical research, where domain-specific models like Med-Palm have achieved human-level performance. Recently, researchers have employed advanced prompt engineering to enhance the general reasoning ability of LLMs. Despite the remarkable success of zero-shot Chain-of-Thoughts (CoT) in solving general reasoning tasks, the potential of these methods still remains paid limited attention in the financial reasoning task.To address this issue, we explore multiple prompt strategies and incorporated semantic news information to improve LLMs' performance on financial reasoning tasks.To the best of our knowledge, we are the first to explore this important issue by applying ChatGPT to the gold investment.In this work, our aim is to investigate the financial reasoning capabilities of LLMs and their capacity to generate logical and persuasive investment opinions. We will use ChatGPT, one of the most powerful LLMs recently, and prompt engineering to achieve this goal. Our research will focus on understanding the ability of LLMs in sophisticated analysis and reasoning within the context of investment decision-making. Our study finds that ChatGPT with CoT prompt can provide more explainable predictions and overcome behavioral biases, which is crucial in finance-related tasks and can achieve higher investment returns. |
| Date: | 2024–11 |
| URL: | https://d.repec.org/n?u=RePEc:arx:papers:2411.13599 |