Showing results 1 - 5 of 5
| John Beshears | David Laibson | Brigitte C. Madrian
Potential vs. realized savings under automatic enrollment. John Beshears, David Laibson, Brigitte Madrian, July 2018, Paper, "Previous research has documented the powerful impact that automatic enrollment has on retirement savings outcomes. When a savings plan’s default—the option that is implemented on behalf of any employees that do not actively elect an alternative option—is changed from not participating in the plan to contributing a…
| John Beshears | David Laibson | Brigitte C. Madrian
Behavioral Household Finance, John Beshears, David Laibson, Brigitte Madrian, July 2018, Paper, "This chapter provides an overview of household finance. The first part summarizes key facts regarding household financial behavior, emphasizing empirical regularities that are inconsistent with the standard classical economic model and discussing extensions of the classical model and explanations grounded in behavioral economics that can account for…
| John Beshears | David Laibson | Brigitte C. Madrian
Borrowing to Save? The Impact of Automatic Enrollment on Debt. John Beshears, David Laibson, Brigitte Madrian, December 6, 2017, Paper, "How much of the retirement savings induced by automatic enrollment is offset by increased borrowing outside the retirement savings plan? We study a natural experiment created when the U.S. Army began automatically enrolling its newly hired civilian employees into the Thrift Savings Plan (TSP) at a default…
| John Beshears | David Laibson | Brigitte C. Madrian
Self Control and Commitment: Can Decreasing the Liquidity of a Savings Account Increase Deposits? John Beshears, David Laibson, and Brigitte Madrian, August 2015, Paper. "If individuals have self-control problems, they may take up commitment contracts that restrict their spending. We experimentally investigate how contract design affects the demand for commitment contracts. Each participant divides money between a liquid account, which permits…
| John Beshears | David Laibson | Brigitte C. Madrian
The Effect of Providing Peer Information on Retirement Savings Decisions. John BeShears, David Laibson, Brigitte C. Madrian, November 14, 2013, Paper. "Information about peer behavior can influence a person’s choices. We conducted a field experiment in a 401(k) plan to measure the effect of peer information on savings choices. Low-saving employees were sent a simplified plan enrollment or contribution increase form. A randomized subset of forms…