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All HBS Web
(1,147)
- People (3)
- News (511)
- Research (406)
- Multimedia (16)
- Faculty Publications (230)
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- May 2015 (Revised September 2015)
- Case
AIP Healthcare Japan: Investing in Japan's Retirement Home Market
By: John A. Quelch and Qing Xia
The CEO of a health care-based REIT is considering alternative nursing home investment strategies. Students must consider macro-industry trends, scale and scope issues and consumer segmentation data in making their recommendations.
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Keywords:
Health Care;
Health Care Services;
REIT;
Marketing;
Investment;
Health Care and Treatment;
Segmentation;
Accommodations Industry;
Health Industry;
Real Estate Industry;
Japan
Quelch, John A., and Qing Xia. "AIP Healthcare Japan: Investing in Japan's Retirement Home Market." Harvard Business School Case 515-102, May 2015. (Revised September 2015.)
- 1998
- Working Paper
The Design and Production of New Retirement Savings Products
By: Zvi Bodie and Dwight B. Crane
- Forthcoming
- Article
Automatic Enrollment with a 12% Default Contribution Rate
By: John Beshears, Ruofei Guo, David Laibson, Brigitte C. Madrian and James J. Choi
We study a retirement savings plan with a default contribution rate of 12% of income, which is much higher than previously studied defaults. Twenty-five percent of employees had not opted out of this default 12 months after hire; a literature review finds that the...
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Keywords:
Retirement Savings;
Defined Contribution Retirement Plan;
Automatic Enrollment;
Retirement;
Saving;
Income;
Decision Choices and Conditions
Beshears, John, Ruofei Guo, David Laibson, Brigitte C. Madrian, and James J. Choi. "Automatic Enrollment with a 12% Default Contribution Rate." Journal of Pension Economics & Finance (forthcoming). (Pre-published online September 11, 2023.)
- January 2012 (Revised February 2013)
- Teaching Note
Dimensional Fund Advisors (DFA)'s Entry into the Retirement Market (TN)
By: Lauren Cohen, Christopher Malloy and Timothy Gray
- Article
The Effect of Providing Peer Information on Retirement Savings Decisions
By: John Beshears, James J. Choi, David Laibson, Brigitte C. Madrian and Katherine L. Milkman
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...
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Beshears, John, James J. Choi, David Laibson, Brigitte C. Madrian, and Katherine L. Milkman. "The Effect of Providing Peer Information on Retirement Savings Decisions." Journal of Finance 70, no. 3 (June 2015): 1161–1201.
- June 2015
- Teaching Note
AIP Healthcare Japan: Investing in Japan's Retirement Home Market
By: John A. Quelch
- February 2013
- Supplement
Dimensional Fund Advisors (DFA)'s Entry into the Retirement Market (CW)
By: Lauren Cohen and Christopher J. Malloy
- 2022
- Working Paper
Automating Short-Term Payroll Savings: Initial Evidence from a Large U.K. Experiment
By: Sarah Holmes Berk, John Beshears, James J. Choi and David Laibson
Automatic enrollment is often used to increase retirement plan participation. Can it be used to increase short-term savings as well? We evaluate preliminary data from an experiment at a large U.K. employer. After years of offering opt-in short-term payroll savings via...
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Berk, Sarah Holmes, John Beshears, James J. Choi, and David Laibson. "Automating Short-Term Payroll Savings: Initial Evidence from a Large U.K. Experiment." Working Paper, July 2022.
- November 2013
- Article
Simplification and Saving
By: John Beshears, James J. Choi, David Laibson and Brigitte C. Madrian
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...
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Keywords:
Retirement Savings;
Simplification;
Procrastination;
Behavioral Economics;
Saving;
Motivation and Incentives;
Retirement
Beshears, John, James J. Choi, David Laibson, and Brigitte C. Madrian. "Simplification and Saving." Journal of Economic Behavior & Organization 95 (November 2013): 130–145.
- December 2019
- Article
Understanding Retirement Requires Getting Inside People's Stories: A Call for More Qualitative Research
Amabile, Teresa M. "Understanding Retirement Requires Getting Inside People's Stories: A Call for More Qualitative Research." Work, Aging and Retirement 5, no. 3 (July 2019): 207–211.
- 2024
- Working Paper
What Drives Variation in Investor Portfolios? Estimating the Roles of Beliefs and Risk Preferences
By: Mark Egan, Alexander MacKay and Hanbin Yang
We present an empirical model of portfolio choice that allows for the nonparametric estimation of investors' (subjective) expectations and risk preferences. Utilizing a comprehensive dataset of 401(k) plans from 2009 through 2019, we explore heterogeneity in asset...
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Keywords:
Stock Market Expectations;
Demand Estimation;
Retirement Planning;
Defined Contribution Retirement Plan;
401 (K);
Finance;
Investment Portfolio;
Investment;
Retirement;
Behavioral Finance;
Financial Services Industry;
United States
Egan, Mark, Alexander MacKay, and Hanbin Yang. "What Drives Variation in Investor Portfolios? Estimating the Roles of Beliefs and Risk Preferences." Harvard Business School Working Paper, No. 22-044, December 2021. (Revised April 2024. Direct download. NBER Working Paper Series, No. 29604, December 2021)
- August 2014
- Article
What Makes Annuitization More Appealing?
By: John Beshears, James J. Choi, David Laibson, Brigitte C. Madrian and Stephen P. Zeldes
We conduct and analyze two large surveys of hypothetical annuitization choices. We find that allowing individuals to annuitize a fraction of their wealth increases annuitization relative to a situation where annuitization is an "all or nothing" decision. Very few...
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Beshears, John, James J. Choi, David Laibson, Brigitte C. Madrian, and Stephen P. Zeldes. "What Makes Annuitization More Appealing?" Special Issue on NBER Pensions. Journal of Public Economics 116 (August 2014): 2–16.
- 16 Oct 2002
- Keynote Speech
Value Shift: The Need for a New Corporate Ethic." Speaker. "Harvard Institute for Learning in Retirement
By: Lynn S. Paine
Keywords:
Ethics
- February 2022
- Article
Borrowing to Save? The Impact of Automatic Enrollment on Debt
By: John Beshears, James J. Choi, David Laibson, Brigitte C. Madrian and William L. Skimmyhorn
Does automatic enrollment into a retirement plan increase financial distress due to increased borrowing outside the plan? We study a natural experiment created when the U.S. Army began automatically enrolling newly hired civilian employees into the Thrift Savings Plan....
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Keywords:
Retirement Savings;
Automatic Enrollment;
Choice Architecture;
Nudge;
Financial Distress;
Retirement;
Saving;
Borrowing and Debt;
Behavior
Beshears, John, James J. Choi, David Laibson, Brigitte C. Madrian, and William L. Skimmyhorn. "Borrowing to Save? The Impact of Automatic Enrollment on Debt." Journal of Finance 77, no. 1 (February 2022): 403–447.
- 2018
- Chapter
Work and Workplace
By: Kai Ruggeri, Jana Berkessel, Jascha Achterberg, Gerhard M. Prinz, Alessandra Luna-Navarro, Jon M. Jachimowicz and A. V. Whillans
Work is a major part of many lives. While individual experiences with work will differ—from how long we work to what jobs we have and to what extent we enjoy them—almost everyone is affected by employment, whether they have a job or not. Decades of research in the...
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Keywords:
Workplace;
Behavioral Insights;
Retirement Savings;
Working Conditions;
Employees;
Performance;
Happiness;
Health;
Job Search;
Change
Ruggeri, Kai, Jana Berkessel, Jascha Achterberg, Gerhard M. Prinz, Alessandra Luna-Navarro, Jon M. Jachimowicz, and A. V. Whillans. "Work and Workplace." Chap. 9 in Behavioral Insights for Public Policy: Concepts and Cases, edited by Kai Ruggeri, 156–173. New York: Routledge, 2018.
- Article
Why A Behavioral Theory of Labor Negotiations Remains a Triumph at Fifty but the Labels 'Distributive' and 'Integrative' Should Be Retired
Richard Walton and Robert McKersie's closeness to practice, disciplinary rigor, and successful search for powerful generalizations help explain the lasting impact of the Behavioral Theory of Labor Relations. Ironically, the names they chose for the fundamental...
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Sebenius, James K. "Why A Behavioral Theory of Labor Negotiations Remains a Triumph at Fifty but the Labels 'Distributive' and 'Integrative' Should Be Retired." Negotiation Journal 31, no. 4 (October 2015): 335–347.
- August 2014 (Revised August 2015)
- Technical Note
Overview of Senior Housing in the United States
By: Charles F. Wu and Joseph Beyer
This technical note provides an overview of the senior housing industry in the United States. There were 40 million seniors in America in 2010, and that number was expected to double by 2050. Seniors would make up 1 in every five Americans. This note explores the...
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Keywords:
Real Estate;
Senior Living;
Retirement Homes;
Development;
Property;
Finance;
Entrepreneurship;
Real Estate Industry;
Massachusetts;
United States
Wu, Charles F., and Joseph Beyer. "Overview of Senior Housing in the United States." Harvard Business School Technical Note 215-005, August 2014. (Revised August 2015.)
- March 2020
- Article
Which Early Withdrawal Penalty Attracts the Most Deposits to a Commitment Savings Account?
By: John Beshears, James J. Choi, Christopher Harris, David Laibson, Brigitte C. Madrian and Jung Sakong
Previous research has shown that some people voluntarily use commitment contracts that restrict their own choice sets. We study how people divide money between two accounts: a liquid account that permits unrestricted withdrawals and a commitment account that is...
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Keywords:
Quasi-hyperbolic Discounting;
Present Bias;
Sophistication;
Naiveté;
Commitment;
Flexibility;
Savings;
Contract Design;
Defined Contribution Retirement Plan;
401 (K);
IRA;
Saving;
Behavior;
Contracts;
Design;
Interest Rates
Beshears, John, James J. Choi, Christopher Harris, David Laibson, Brigitte C. Madrian, and Jung Sakong. "Which Early Withdrawal Penalty Attracts the Most Deposits to a Commitment Savings Account?" Art. 104144. Journal of Public Economics 183 (March 2020).
- June 2013 (Revised August 2013)
- Background Note
Note on Pension Guarantee Funds
By: Robert C. Pozen and Patricia Bissett Higgins
The United States and the United Kingdom both had quasi-government agencies that provided back-up insurance for individuals participating in defined benefit ("DB") pension plans. This note compares and contrasts the United Kingdom's Pension Protection Fund ("PPF") with...
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Keywords:
Pensions;
Pension Guarantee Funds;
Pension Protection Fund;
Pension Benefit Guaranty Corporation;
Employee Retirement Income Security Act;
PBGC;
ERISA;
MAP-21;
Legislation;
Insurance;
Saving;
Retirement;
Labor;
Labor and Management Relations;
Employees;
Insurance Industry;
United States;
United Kingdom
Pozen, Robert C., and Patricia Bissett Higgins. "Note on Pension Guarantee Funds." Harvard Business School Background Note 313-139, June 2013. (Revised August 2013.)
- 17 Sep 2018
- Research & Ideas
Welcome to Retirement. Who Am I Now?
retirement in different phases of our careers, they talked to millennials just starting out in the work world, workers inching closer to retirement age, late-career professionals entering retirement, and...
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