How Much is Investor Autonomy Worth?

@article{Benartzi2001HowMI,
  title={How Much is Investor Autonomy Worth?},
  author={Shlomo Benartzi and Richard H. Thaler},
  journal={Capital Markets: Market Efficiency eJournal},
  year={2001}
}
There is a worldwide trend towards defined contribution savings plans, where investors are often able to select their own portfolios. How much is this freedom of choice worth? We present retirement investors with information about the distribution of outcomes they could expect to obtain from the portfolios they picked for themselves, and the same information for the median portfolio selected by their peers. A majority of our survey participants actually prefer the median portfolio to the one… 
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Investment in employer shares, incentive alignment, and monitoring
  • Issouf Soumaré
  • Business, Economics
    Journal of Pension Economics and Finance
  • 2007
It is well documented that US defined contribution pension plans are largely invested in the shares of their employer. I argue that when the (single representative) worker holds shares in the firm,
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