Ontology highlight
ABSTRACT:
SUBMITTER: Beshears J
PROVIDER: S-EPMC4452131 | biostudies-literature | 2015 Jun
REPOSITORIES: biostudies-literature
Beshears John J Choi James J JJ Laibson David D Madrian Brigitte C BC Milkman Katherine L KL
The Journal of finance 20150601 3
Using a field experiment in a 401(k) plan, we measure the effect of disseminating information about peer behavior on savings. Low-saving employees received simplified plan enrollment or contribution increase forms. A randomized subset of forms stated the fraction of age-matched coworkers participating in the plan or age-matched participants contributing at least 6% of pay to the plan. We document an oppositional reaction: the presence of peer information <i>decreased</i> the savings of nonpartic ...[more]