Mobile Apps and Financial Decision Making

Bruce Carlin, Arna Olafsson*, Michaela Pagel

*Corresponding author for this work

Research output: Contribution to journalJournal articleResearchpeer-review


We exploit the release of a mobile application for a financial aggregation platform to analyze how technology adoption changes consumer financial decision making. The app reduced the cost of accessing personal financial information, and we find that this led to a drop in non-sufficient fund (NSF) fees. Because of the manner in which these fees are incurred, this represents an unambiguous welfare improvement for users of the platform. The leading explanation for this result appears to be mistake avoidance due to easier access to information.
Original languageEnglish
JournalReview of Finance
Issue number3
Pages (from-to)977-996
Number of pages20
Publication statusPublished - May 2023

Bibliographical note

Published online: 29 June 2022.


  • Household finance
  • Mobile apps
  • Financial mistakes
  • Bank fees
  • Attention to personal finances
  • Access to financial information
  • Bank data

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