Discrete Choquet integral aggregation applied to intertemporal choices: financial literacy components and gender in anomalies and uncertainty aversion

This paper examines the relationship between intertemporal preferences, financial literacy components, and gender. Intertemporal choices are the type of decisions whose outcomes will only be visible with the passage of time and affect a large part of everyday decisions. The contribution of this work is twofold: on the one hand, to study intertemporal preferences and the performance of the discount function with respect to gender and the three financial literacy components, i.e. financial knowledge, financial behavior, and financial attitude; on the other hand, the study proposes an application of Choquet discrete integral as an aggregation operator to study the characteristics of the classes considered. This approach provides clear and consistent results, and the Choquet integral allows a more complete description of the sample. The results are immediately applicable to customized behavioral finance. In fact, the role of gender in the promotion of optimal financial instruments is emphasized, considering behavioral factors such as risk aversion and impatience, and the importance of all financial literacy components for informed choices. In general, this research promotes the interplay between qualitative and quantitative analysis for effective customer profiling.