| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w15108 |
| 来源ID | Working Paper 15108 |
| Default, Framing and Spillover Effects: The Case of Lifecycle Funds in 401(k) Plans | |
| Olivia S. Mitchell; Gary R. Mottola; Stephen P. Utkus; Takeshi Yamaguchi | |
| 发表日期 | 2009-06-25 |
| 出版年 | 2009 |
| 语种 | 英语 |
| 摘要 | Important behavioral factors such as default and framing effects are increasingly being employed to optimize decision-making in a variety of settings, including individually-directed retirement plans. Yet such approaches may have unintended "spillover" effects, as we show with regard to the introduction of lifecycle funds in U.S. 401(k) plans. As anticipated, lifecycle funds do reshape individual portfolio choices through large default and framing effects. But unexpectedly, they also create a new class of investors which holds these funds as part of more complex portfolios. Our results are directly relevant to those interested in retirement plan design and retirement security; they also highlight the importance of assessing such spillover effects in other consequential settings where behavioral economics techniques may be employed. |
| 主题 | Financial Economics ; Portfolio Selection and Asset Pricing ; Financial Institutions ; Public Economics ; Taxation ; National Fiscal Issues ; Labor Economics ; Demography and Aging ; Labor Supply and Demand |
| URL | https://www.nber.org/papers/w15108 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/572783 |
| 推荐引用方式 GB/T 7714 | Olivia S. Mitchell,Gary R. Mottola,Stephen P. Utkus,et al. Default, Framing and Spillover Effects: The Case of Lifecycle Funds in 401(k) Plans. 2009. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w15108.pdf（156KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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