Optimal Defaults and Active Decisions
Defaults often have a large influence on consumer decisions. We identify an overlooked but practical alternative to defaults: requiring individuals to make explicit choices for themselves. We study such "active decisions" in the context of 401(k) saving. We find that compelling new hires t...
| Main Authors: | , , , , |
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| Other Authors: | |
| Format: | Article |
| Language: | English |
| Published: |
MIT Press,
2010-09-01T20:01:05Z.
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| Subjects: | |
| Online Access: | Get fulltext |