Simplification and Saving

Simplification and Saving

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Simplification and Saving

dc.contributor.author	Beshears, John
dc.contributor.author	Choi, James J.
dc.contributor.author	Laibson, David I.
dc.contributor.author	Madrian, Brigitte C.
dc.date.accessioned	2012-11-20T15:25:36Z
dc.date.issued	2012-11-20
dc.identifier.citation	Beshears, John, James J. Choi, David I. Laibson, and Brigitte C. Madrian. Forthcoming. Simplification and saving. Journal of Economic Behavior and Organization.	en_US
dc.identifier.issn	0167-2681	en_US
dc.identifier.uri	http://nrs.harvard.edu/urn-3:HUL.InstRepos:9925399
dc.description.abstract	The daunting complexity of important financial decisions can lead to procrastination. We evaluate a low-cost intervention that substantially simplifies the retirement savings plan participation decision. Individuals received an opportunity to enroll in a retirement savings plan at a pre-selected contribution rate and asset allocation, allowing them to collapse a multidimensional problem into a binary choice between the status quo and the pre-selected alternative. The intervention increases plan enrollment rates by 10–20 percentage points. We find that a similar intervention can be used to increase contribution rates among employees who are already participating in a savings plan.	en_US
dc.description.sponsorship	Economics	en_US
dc.description.sponsorship	Government	en_US
dc.language.iso	en_US	en_US
dc.publisher	Elsevier	en_US
dc.relation.isversionof	doi:10.1016/j.jebo.2012.03.007	en_US
dc.relation.hasversion	http://www.nber.org/papers/w12659	en_US
dash.license	OAP
dc.subject	retirement savings	en_US
dc.subject	simplification	en_US
dc.subject	procrastination	en_US
dc.subject	behavioral economics	en_US
dc.title	Simplification and Saving	en_US
dc.type	Journal Article	en_US
dc.description.version	Author's Original	en_US
dc.relation.journal	Journal of Economic Behavior and Organization	en_US
dash.depositing.author	Laibson, David I.
dc.date.available	2012-11-20T15:25:36Z