Simplification and Saving.

  title={Simplification and Saving.},
  author={John Beshears and James J. Choi and David Laibson and Brigitte C. Madrian},
  journal={Journal of economic behavior & organization},
The daunting complexity of important financial decisions can lead to procrastination. We evaluate a low-cost intervention that substantially simplifies the retirement savings plan participation decision. Individuals received an opportunity to enroll in a retirement savings plan at a pre-selected contribution rate and asset allocation, allowing them to collapse a multidimensional problem into a binary choice between the status quo and the pre-selected alternative. The intervention increases plan… CONTINUE READING
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