Simplification and Saving

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Simplification and Saving

Show simple item record Beshears, John Leonard Choi, James J. Laibson, David I. Madrian, Brigitte C. 2012-11-20T15:25:36Z 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.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 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 Laibson, David I. 2012-11-20T15:25:36Z

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