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J Fam Econ Iss (2008) 29:545546
DOI 10.1007/s10834-008-9110-2
BOOK REVIEW
Published online: 20 May 2008 Springer Science+Business Media, LLC 2008
This timely and relevant reference book contains 25 chapters from some of the most knowledgeable consumer nance researchers. Divided into four sections, its wide coverage of theoretical to practical topics provides the reader with a broad base of information to begin literature reviews of consumer nance. This review provides impressions of the four sections before offering concluding remarks.
The section Concepts and Theories contains six chapters on topics of interest. Foremost are three chapters: Grables discourse on risk tolerance, Xiaos application of behavioral theories to nancial behavior, and Buetler and Dicksons discussion of consumer economic socialization. Grable provides a comprehensive theoretical interpretation of risk tolerance. His model of inuences on risk tolerance lays the groundwork for future research in understandings of investment behaviors and related areas. Xiaos discussion of the theory of planned behavior (TPB) and transtheoretical model of change (TTM) offers a structured understanding of consumers nancial actions. Financial behaviors are inuenced by complex factors. Xiaos work provides a comprehensive discussion on how to utilize existing behavior theories such as TPB and TTM to better understand, predict and modify consumer nancial behaviors. Buetler and Dickson summarize literature concerning...