Prioritization of factors affecting behavior and financial literacy based on non-linear Bayesian approaches

This article attempts to identify and prioritize the factors affecting behavior and financial literacy This research is conducted as a quantitative study in the field of applied research. It is of a descriptive nature with a survey method in terms of approach and execution. The population studied in this research includes the students of accounting courses. The sample size of 384 individuals was determined based on the Cochran formula and using the convenience sampling method. 58 variables influencing financial literacy and behavior were examined and categorized into 8 groups In this study, the prioritization of factors influencing financial behavior and literacy was conducted using Bayesian averaging models.According to the results, the teaching method had the highest impact (0.611) and the highest probability level (0.916) on the financial literacy variable. The results indicated that macro factors (0.177), personal characteristics (0.245), family characteristics (0.208), financial activities (0.327), geographical location (0.113), type of education (0.457), and education level (0.408) also influenced financial literacy.Furthermore, the results showed that the education level had the highest impact (0.705) and the highest probability level (0.943) on the financial behavior variable. According to the results, macro factors (0.115), personal characteristics (0.476), family characteristics (0.299), financial activities (0.412), geographical location (0.199), teaching method (0.555), and type of education (0.612) were also influential on financial behavior. Among the 8 groups of variables, the teaching method had the highest impact on financial literacy, while the education level had the highest impact on financial behavior.