G2TT
来源类型Discussion paper
规范类型论文
来源IDDP11400
DP11400 Mobile-izing Savings with Automatic Contributions: Experimental Evidence on Present Bias and Default Effects in Afghanistan
Michael Callen; Joshua Blumenstock
发表日期2016-07-20
出版年2016
语种英语
摘要Through a field experiment in Afghanistan, we show that default enrollment in a defined contribution plan increases saving rates by 40 percentage points, and that present-biased preferences mainly drive this effect. Working with Afghanistan's primary mobile phone operator, we designed and deployed a new mobile phone-based automatic payroll deduction system. Each of 967 employees at the firm was randomly assigned a default contribution rate (either 0% or 5%) as well as a matching incentive rate (0%, 25%, or 50%). We find that employees initially assigned a default contribution rate of 5% are 40 percentage points more likely to contribute to the account 6 months later than individuals assigned to a default contribution rate of zero; to achieve this effect through financial incentives alone would require a 50% match from the employer. We also find evidence of habit formation: default enrollment increases the likelihood that employees continue to save after end of the trial, and increases employees' self-reported interest in saving and sense of financial security. To understand the mechanism behind these effects, we conducted several experimental interventions and measured employee time preferences. Ruling out several competing explanations, we find evidence that the default effect is driven largely by present-biased preferences that cause the employee to procrastinate in making a non-default election.
主题Development Economics
URLhttps://cepr.org/publications/dp11400
来源智库Centre for Economic Policy Research (United Kingdom)
资源类型智库出版物
条目标识符http://119.78.100.153/handle/2XGU8XDN/540214
推荐引用方式
GB/T 7714
Michael Callen,Joshua Blumenstock. DP11400 Mobile-izing Savings with Automatic Contributions: Experimental Evidence on Present Bias and Default Effects in Afghanistan. 2016.
条目包含的文件
条目无相关文件。
个性服务
推荐该条目
保存到收藏夹
导出为Endnote文件
谷歌学术
谷歌学术中相似的文章
[Michael Callen]的文章
[Joshua Blumenstock]的文章
百度学术
百度学术中相似的文章
[Michael Callen]的文章
[Joshua Blumenstock]的文章
必应学术
必应学术中相似的文章
[Michael Callen]的文章
[Joshua Blumenstock]的文章
相关权益政策
暂无数据
收藏/分享

除非特别说明,本系统中所有内容都受版权保护,并保留所有权利。