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- All HBS Web (36)
- Faculty Publications (7)
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- All HBS Web (36)
- Faculty Publications (7)
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- 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.
- 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.)
- 2010
- Chapter
The Impact of Employer Matching on Savings Plan Participation under Automatic Enrollment
By: John Beshears, James J. Choi, David Laibson and Brigitte C. Madrian
Existing research has documented the large impact that automatic enrollment has on savings plan participation. All the companies examined in these studies, however, have combined automatic enrollment with an employer match. This raises a question about how effective...
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Keywords:
Motivation and Incentives;
Consumer Behavior;
Personal Finance;
Investment Funds;
Microeconomics;
Compensation and Benefits
Beshears, John, James J. Choi, David Laibson, and Brigitte C. Madrian. "The Impact of Employer Matching on Savings Plan Participation under Automatic Enrollment." In Research Findings in the Economics of Aging, edited by David A. Wise, 311–327. Chicago: University of Chicago Press, 2010.
- 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.
- 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.
- 2020
- Chapter
Building Emergency Savings Through Employer-Sponsored Rainy-Day Savings Accounts
By: John Beshears, James J. Choi, J. Mark Iwry, David C. John, David Laibson and Brigitte C. Madrian
Roughly half of Americans live paycheck to paycheck. When financial shocks occur during their working life, many of these households tap into their retirement savings accounts. We explore the practical considerations and challenges associated with helping households...
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Beshears, John, James J. Choi, J. Mark Iwry, David C. John, David Laibson, and Brigitte C. Madrian. "Building Emergency Savings Through Employer-Sponsored Rainy-Day Savings Accounts." In Tax Policy and the Economy, Volume 34, edited by Robert A. Moffitt, 43–90. Chicago: University of Chicago Press, 2020.
- 2019
- Working Paper
Biometric Monitoring, Service Delivery and Misreporting: Evidence from Healthcare in India
By: Thomas Bossuroy, Clara Delavallade and Vincent Pons
Developing countries increasingly use biometric identification technology in hopes of improving the reliability of administrative information and delivering social services more efficiently. This paper exploits the random placement of biometric tracking devices in...
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Keywords:
Biometric Technology;
Health Care and Treatment;
Technological Innovation;
Analytics and Data Science;
Quality;
Performance Improvement;
India
Bossuroy, Thomas, Clara Delavallade, and Vincent Pons. "Biometric Monitoring, Service Delivery and Misreporting: Evidence from Healthcare in India." NBER Working Paper Series, No. 26388, October 2019. (Revise and resubmit requested, Review of Economics and Statistics.)
- 24 Jul 2019
- Lessons from the Classroom
Can These Business Students Motivate Londoners to Do the Right Thing?
much. In this interpretation, it shouldn’t really matter whether the default is for employees to be automatically enrolled or not; in both cases, employees would think about their options and make a wise...
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Keywords:
by Dina Gerdeman
- 12 Feb 2007
- Lessons from the Classroom
‘UpTick’ Brings Wall Street Pressure to Students
stress frequently, but it's a hard thing to teach in a classroom. Each year, thousands of business school students enroll in courses on finance. Their sights set on a career in money management, they dutifully study theories such as the...
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- 17 Nov 2003
- Research & Ideas
The Business Case for Diabetes Disease Management
out e-mail or making phone calls to remind patients of test and checkup dates. Another route is to offer a combined monitoring, tracking, and alert system. This method automatically lets the healthcare provider know if patients skip their...
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- 18 Jun 2012
- Research & Ideas
Better by the Bunch: Evaluating Job Candidates in Groups
Protection Act of 2006, which mandated in part that employees be automatically enrolled in a pension plan upon hiring and must choose to opt out rather than opt in—Bohnet, Bazerman, and van Geen decided to...
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by Maggie Starvish
- 03 May 2010
- Research & Ideas
What Is the Future of MBA Education?
Business schools are positioned on increasingly unsteady—and unpopular—ground. MBA enrollments fluctuate or decline; recruiters voice skepticism about the value of newly-minted MBA degrees; and deans, faculty, students, executives, and a...
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- 27 Jul 2011
- Research & Ideas
Customer Loyalty Programs That Work
Successful retailers connect with customers via loyalty programs at three levels. The first is an introduction of sorts: the customer receives a generic reward for enrolling in the program. At the second level, the retailer contacts the...
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- 03 Feb 2015
- First Look
First Look: February 3
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...
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Keywords:
Sean Silverthorne
- 26 Mar 2019
- First Look
New Research and Ideas, March 26, 2019
record health worker attendance and patient adherence to protocol, and they automatically prompt follow-up treatment. We combine data from surveys, independent field visits, and government registers to identify impacts on TB-control...
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Keywords:
Dina Gerdeman
- 31 Mar 2009
- First Look
First Look: March 31, 2009
agency, but only to the extent that indirectness signals reduced foreknowledge and/or control. Experiment 3 indicates that effects of indirect agency result from a failure to automatically consider the potentially dubious motives of...
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Keywords:
Martha Lagace