Now showing items 1-20 of 23

    • The Availability and Utilization of 401(k) Loans 

      Beshears, John Leonard; Choi, James J; Laibson, David I.; Madrian, Brigitte (John F. Kennedy School of Government, Harvard University, 2011)
      We document the loan provisions in 401(k) savings plans and how participants use 401(k) loans. Although only about 22% of savings plan participants who are allowed to borrow from their 401(k) have such a loan at any given ...
    • Behavioral Economics Perspective on Public Sector Pension Plans 

      Beshears, John Leonard; Choi, James J.; Laibson, David I.; Madrian, Brigitte (Cambridge University Press, 2011)
      We describe the pension plan features of the states and the largest cities and counties in the U.S. Unlike in the private sector, defined benefit (DB) pensions are still the norm in the public sector. However, a few ...
    • Behavioral Economics Perspectives on Public Sector Pension Plans 

      Beshears, John Leonard; Choi, James J.; Laibson, David I.; Madrian, Brigitte (John F. Kennedy School of Government, Harvard University, 2011)
      We describe the pension plan features of the states and the largest cities and counties in the U.S. Unlike in the private sector, defined benefit (DB) pensions are still the norm in the public sector. However, a few ...
    • Beyond Beta-Delta: The Emerging Economics of Personal Plans 

      Beshears, John Leonard; Milkman, Katherine L.; Schwartzstein, Joshua Reid (American Economic Association, 2016)
      People make personal plans regarding whether, when, where, and how to undertake certain actions. We discuss three questions related to personal plans. First, what are the effects of plans on behavior? Second, when are plans ...
    • A Commitment Contract to Achieve Virologic Suppression in Poorly Adherent Patients with HIV/AIDS 

      Alsan, Marcella; Beshears, John Leonard; Armstrong, Wendy S.; Choi, James J.; Madrian, Brigitte; Nguyen, Minh Ly T.; Del Rio, Carlos; Laibson, David I.; Marconi, Vincent C. (Ovid Technologies (Wolters Kluwer Health), 2017)
      Objective: Assess whether a commitment contract informed by behavioral economics leads to persistent virologic suppression among HIV-positive patients with poor antiretroviral therapy (ART) adherence. Design: Single-center ...
    • Consumers’ Misunderstanding of Health Insurance 

      Loewenstein, George; Friedman, Joelle Y.; McGill, Barbara; Ahmad, Sarah; Linck, Suzanne; Sinkula, Stacey; Beshears, John Leonard; Choi, James J.; Kolstad, Jonathan; Laibson, David I.; Madrian, Brigitte; List, John A.; Volpp, Kevin G. (Elsevier BV, 2013)
      We report results from two surveys of representative samples of Americans with private health insurance. The first examines how well Americans understand, and believe they understand, traditional health insurance coverage. ...
    • Does Aggregated Returns Disclosure Increase Portfolio Risk Taking? 

      Beshears, John Leonard; Choi, James J.; Laibson, David I.; Madrian, Brigitte (Oxford University Press (OUP), 2017-06-09)
      Many experiments have found that participants take more investment risk if they see returns less frequently, see portfolio-level returns (rather than each individual asset’s returns), or see long-horizon (rather than ...
    • Does front-loading taxation increase savings? Evidence from Roth 401(k) introductions 

      Beshears, John Leonard; Choi, James J.; Laibson, David I.; Madrian, Brigitte (Elsevier BV, 2017)
      Can governments increase private savings by taxing savings up front instead of in retirement? Roth 401(k) contributions are not tax-deductible in the contribution year, but withdrawals in retirement are untaxed. The more ...
    • The Effect of Providing Peer Information on Retirement Savings Decisions 

      Beshears, John Leonard; Choi, James J.; Laibson, David I.; Madrian, Brigitte; Milkman, Katherine L. (Wiley-Blackwell, 2015)
      Using a field experiment in a 401(k) plan, we measure the effect of disseminating information about peer behavior on savings. Low-saving employees received simplified plan enrollment or contribution increase forms. A ...
    • Following through on Good Intentions: The Power of Planning Prompts 

      Milkman, Katherine L; Beshears, John Leonard; Choi, James; Laibson, David I.; Madrian, Brigitte (John F. Kennedy School of Government, Harvard University, 2012)
      We study whether prompts to form and recall a plan can increase individuals’ responsiveness to reminders to make and attend beneficial appointments. At four companies, all employees due for a colonoscopy were randomly ...
    • How Are Preferences Revealed? 

      Beshears, John Leonard; Choi, James J.; Laibson, David I.; Madrian, Brigitte (Elsevier, 2008)
      Revealed preferences are tastes that rationalize an economic agent's observed actions. Normative preferences represent the agent's actual interests. It sometimes makes sense to assume that revealed preferences are identical ...
    • How Does Simplified Disclosure Affect Individuals' Mutual Fund Choices? 

      Beshears, John Leonard; Choi, James J.; Laibson, David I.; Madrian, Brigitte (National Bureau of Economic Research, 2009)
      We use an experiment to estimate the effect of the SEC’s Summary Prospectus, which simplifies mutual fund disclosure. Our subjects chose an equity portfolio and a bond portfolio. Subjects received either statutory prospectuses ...
    • The Impact of Employer Matching on Savings Plan Participation under Automatic Enrollment 

      Beshears, John Leonard; Choi, James J.; Laibson, David I.; Madrian, Brigitte (University of Chicago Press, 2010)
      Existing research has documented the large impact that automatic enrollment has on savings plan participation. All the companies examined in these studies, however, have combined automatic enrollment with an employer match. ...
    • The Importance of Default Options for Retirement Saving Outcomes: Evidence from the United States 

      Beshears, John Leonard; Choi, James; Laibson, David I.; Madrian, Brigitte (Oxford University Press, 2008)
      This paper summarizes the empirical evidence on how defaults impact retirement savings outcomes. After outlining the salient features of the various sources of retirement income in the U.S., the paper presents the empirical ...
    • Liquidity in Retirement Savings Systems: An International Comparison 

      Beshears, John Leonard; Choi, James J.; Hurwitz, Joshua Bayard; Laibson, David I.; Madrian, Brigitte (American Economic Association, 2015)
      We compare the liquidity that six developed countries have built into their employer-based defined contribution (DC) retirement schemes. In Germany, Singapore, and the UK, withdrawals are essentially banned no matter what ...
    • The Performance of Corporate Alliances: Evidence from Oil and Gas Drilling in the Gulf of Mexico 

      Beshears, John Leonard (Elsevier, 2013)
      I use data on oil and gas drilling in the Gulf of Mexico to measure how a corporate alliance—a group of firms that jointly develops an offshore tract—performs relative to a solo firm. I employ a regression discontinuity ...
    • Public Policy and Saving for Retirement: The "Autosave" Features of the Pension Protection Act of 2006 

      Beshears, John Leonard; Choi, James J.; Laibson, David I.; Madrian, Bridgitte C.; Weller, Brian (Harvard University Press, 2010)
    • Simplification and Saving 

      Beshears, John Leonard; Choi, James J.; Laibson, David I.; Madrian, Brigitte C. (Elsevier, 2012-11-20)
      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 ...
    • Testimonials Do Not Convert Patients from Brand to Generic Medication 

      Beshears, John Leonard; Choi, James J.; Laibson, David I.; Madrian, Brigitte; Reynolds, Gwendolyn (Managed Care & Healthcare Communications, 2013)
      Objectives: To assess whether the addition of a peer testimonial to an informational mailing increases conversion rates from brand-name prescription medications to lower-cost therapeutic equivalents, and whether the ...
    • Using Implementation Intentions Prompts to Enhance Influenza Vaccination Rates 

      Milkman, Katherine L.; Beshears, John Leonard; Choi, James J.; Laibson, David I.; Madrian, Brigitte (National Academy of Sciences, 2011)
      We evaluate the results of a field experiment designed to measure the effect of prompts to form implementation intentions on realized behavioral outcomes. The outcome of interest is influenza vaccination receipt at free ...