| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w17927 |
| 来源ID | Working Paper 17927 |
| What Will My Account Really Be Worth? An Experiment on Exponential Growth Bias and Retirement Saving | |
| Gopi Shah Goda; Colleen Flaherty Manchester; Aaron Sojourner | |
| 发表日期 | 2012-03-23 |
| 出版年 | 2012 |
| 语种 | 英语 |
| 摘要 | Recent findings on limited financial literacy and exponential growth bias suggest saving decisions may not be optimal because such decisions require an accurate understanding of how current contributions can translate into income in retirement. This study uses a large-scale field experiment to measure how a low-cost, direct-mail intervention designed to inform subjects about this relationship affects their saving behavior. Using administrative data prior to and following the intervention, we measure its effect on participation and the level of contributions in retirement saving accounts. Those sent income projections along with enrollment information were more likely to change contribution levels and increase annual contributions relative to the control group. Among those who made a change in contribution, the increase in annual contributions was approximately $1,150. Results from a follow-up survey corroborate these findings and show heterogeneous effects of the intervention by rational and behavioral factors known to affect saving. Finally, we find evidence of behavioral influences on decision-making in that the assumptions used to generate the projections influence the saving response. |
| 主题 | Public Economics ; Taxation ; Labor Economics ; Demography and Aging |
| URL | https://www.nber.org/papers/w17927 |
| 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/575605 |
| 推荐引用方式 GB/T 7714 | Gopi Shah Goda,Colleen Flaherty Manchester,Aaron Sojourner. What Will My Account Really Be Worth? An Experiment on Exponential Growth Bias and Retirement Saving. 2012. |
| 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 | ||
| w17927.pdf（2605KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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