Center for Financial and Economic Decision Making

Hands held over a piggy bank

Photo by Romolo Tavani/Fotolia

The Center for Financial and Economic Decision Making (CFED) is dedicated to finding solutions that improve the financial well-being of individuals, families, and nations. A research center within RAND Education and Labor, CFED unites experts in behavioral economics, public finance, financial literacy, economic development, and psychology.

CFED research teams investigate how people in the United States and around the world collect and think about financial information and how successfully they match their financial decisions to their interests and goals.


Recent CFED research has produced findings on wide-ranging topics associated with financial choice and well-being, including the role of confidence in financial decisionmaking, how U.S. households prepare for retirement, and the ways in which consumers use banks and credit unions. Additionally, CFED researchers have designed, implemented, and evaluated interventions targeted at helping individuals build savings, increase credit, reduce debt, and develop financial capability.

CFED researchers are interested in understanding and improving financial decisionmaking internationally. In the developing world, CFED has evaluated policies and programs that affect household financial decisionmaking, such as interventions to help consumers build savings.


CFED research has been supported by organizations such as the Department of Labor, the U.S. Securities and Exchange Commission, the Department of the Treasury, the World Bank, the Social Security Administration, the Organization for Economic Co-Operation and Development, and the Canadian Ministry of Finance.