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. Author manuscript; available in PMC: 2016 Nov 1.
Published in final edited form as: Manage Sci. 2014 Oct 29;61(11):2603–2610. doi: 10.1287/mnsc.2014.2010

Table 2.

Decrease in Cognition and Literacy

Literacy Change Numeracy Change Knowledge Change



Estimate SE p-value Estimate SE p-value Estimate SE p-value



Cognition Change 1.084*** 0.248 0.00 0.648*** 0.183 0.00 0.437*** 0.158 0.01
Intercept −0.012 0.092 0.90 −0.031 0.068 0.64 0.020 0.058 0.74

Cognition Decrease 1.237*** 0.375 0.00 0.765*** 0.269 0.00 0.473** 0.240 0.05
Intercept 0.021 0.157 0.89 −0.017 0.113 0.88 0.038 0.101 0.71

This table presents regression results of the effect of cognitive changes on financial literacy, and separately on its components, numeracy and knowledge. Cognition Change provides the association between participants' cognition changes and their changes in the specified outcome variable. Cognition Decrease provides the previous association only among the subset of participants who experience a decrease in cognition.

*, **, and *** indicate statistically significant at the 10%, 5%, and 1% level respectively