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Carpenter, Jeffrey P. [Author] ; Huet-Vaughn, Emiliano [Other]; Matthews, Peter Hans [Other]; Robbett, Andrea [Other]; Beckett, Dustin [Other]; Jamison, Julian C. [Other]

Choice Architecture to Improve Financial Decision Making

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  • Media type: E-Book
  • Title: Choice Architecture to Improve Financial Decision Making
  • Contributor: Carpenter, Jeffrey P. [Author]; Huet-Vaughn, Emiliano [Other]; Matthews, Peter Hans [Other]; Robbett, Andrea [Other]; Beckett, Dustin [Other]; Jamison, Julian C. [Other]
  • Published: [S.l.]: SSRN, [2017]
  • Extent: 1 Online-Ressource (38 p)
  • Language: English
  • DOI: 10.2139/ssrn.3078996
  • Identifier:
  • Origination:
  • Footnote: Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments November 10, 2017 erstellt
  • Description: We exploit the principles of choice architecture to evaluate interventions in the market for reloadable prepaid cards. Participants are randomized into three card menu presentation treatments - the market status quo, a regulation-inspired reform, or an enhanced reform designed to minimize attribute overload - and offered choices based on prior structural estimation of individual preferences. Consumers routinely choose incorrectly under the status quo, with tentative evidence the regulation-inspired presentation may increase best card choice, and clear evidence the enhanced reform reduces worst card choice. Welfare analysis suggests the regulation-inspired presentation offers modest gains, while the enhanced policy generates substantial benefits
  • Access State: Open Access