{"id":10184,"date":"2020-06-16T08:52:03","date_gmt":"2020-06-16T07:52:03","guid":{"rendered":"https:\/\/microsites.ncl.ac.uk\/nubsstaffblog\/?p=10184"},"modified":"2020-06-16T08:52:03","modified_gmt":"2020-06-16T07:52:03","slug":"celebrating-success-prof-darren-duxbury-3","status":"publish","type":"post","link":"https:\/\/microsites.ncl.ac.uk\/nubsstaffblog\/2020\/06\/16\/celebrating-success-prof-darren-duxbury-3\/","title":{"rendered":"Celebrating Success: Prof Darren Duxbury"},"content":{"rendered":"<p>Congratulations to Prof Darren Duxbury and his co-authors R. Ranyard, S. McNair and G. Nicolini who recently had their paper titled: \u2018<strong>An Item Response Theory Approach to Constructing and Evaluating Brief and In-depth Financial Literacy Scales<\/strong>\u2019 accepted for publication by <em>Journal of Consumer Affairs<\/em>.<\/p>\n<p>Abstract:<\/p>\n<p>We applied Item Response Theory (IRT) to construct and evaluate new brief and in-depth financial literacy scales. A survey of a UK adult sample (N = 589) included 50 questions to assess knowledge about managing financial resources and competence in using personal finance-related information \u2013 including five widely used items, on interest rates \u2013 inflation, investment diversification, mortgages and bonds. IRT applied to a scale of these items identified some limitations, overcome via further iterations to construct a new brief scale with sound psychometric properties. IRT was then applied iteratively to our pool, resulting in an in-depth, 20-item scale, also psychometrically sound, covering four broad financial domains: everyday money transactions; the concept of money; borrowing; and saving and investment. Parallel 10-item sub-scales were also evaluated. The validity of the new scales was demonstrated by regression analyses which found that, controlling for demographic variables, financial literacy predicted key indicators of financial well-being.<\/p>\n<p>The <em>Journal of Consumer Affairs<\/em> is a leading academic journal on financial literacy, including papers by world-leading academics in the area \u2013 e.g. Annamaria Lusardi, Olivia S. Mitchell, Sandra Huston, W\u00e4ndi Bruine de Bruin.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Congratulations to Prof Darren Duxbury and his co-authors R. Ranyard, S. McNair and G. Nicolini who recently had their paper titled: \u2018An Item Response Theory&#8230; <br \/><a href=\"https:\/\/microsites.ncl.ac.uk\/nubsstaffblog\/2020\/06\/16\/celebrating-success-prof-darren-duxbury-3\/\" rel=\"bookmark\"><strong>Read more<\/strong><\/a><\/p>\n","protected":false},"author":3560,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[6],"tags":[],"class_list":["post-10184","post","type-post","status-publish","format-standard","hentry","category-research"],"acf":[],"_links":{"self":[{"href":"https:\/\/microsites.ncl.ac.uk\/nubsstaffblog\/wp-json\/wp\/v2\/posts\/10184","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/microsites.ncl.ac.uk\/nubsstaffblog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/microsites.ncl.ac.uk\/nubsstaffblog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/microsites.ncl.ac.uk\/nubsstaffblog\/wp-json\/wp\/v2\/users\/3560"}],"replies":[{"embeddable":true,"href":"https:\/\/microsites.ncl.ac.uk\/nubsstaffblog\/wp-json\/wp\/v2\/comments?post=10184"}],"version-history":[{"count":3,"href":"https:\/\/microsites.ncl.ac.uk\/nubsstaffblog\/wp-json\/wp\/v2\/posts\/10184\/revisions"}],"predecessor-version":[{"id":10190,"href":"https:\/\/microsites.ncl.ac.uk\/nubsstaffblog\/wp-json\/wp\/v2\/posts\/10184\/revisions\/10190"}],"wp:attachment":[{"href":"https:\/\/microsites.ncl.ac.uk\/nubsstaffblog\/wp-json\/wp\/v2\/media?parent=10184"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/microsites.ncl.ac.uk\/nubsstaffblog\/wp-json\/wp\/v2\/categories?post=10184"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/microsites.ncl.ac.uk\/nubsstaffblog\/wp-json\/wp\/v2\/tags?post=10184"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}