Using Fresh Starts to Nudge Increased Retirement Savings.
choice architecture
fresh start
nudge
randomized field experiment
savings
Journal
Organizational behavior and human decision processes
ISSN: 0749-5978
Titre abrégé: Organ Behav Hum Decis Process
Pays: United States
ID NLM: 8504453
Informations de publication
Date de publication:
Nov 2021
Nov 2021
Historique:
entrez:
9
8
2021
pubmed:
10
8
2021
medline:
10
8
2021
Statut:
ppublish
Résumé
We conducted a field experiment to study the effect of framing future moments in time as new beginnings (or "fresh starts"). University employees (N=6,082) received mailings with an opportunity to choose between increasing their contributions to a savings plan immediately or at a specified future time point. Framing the future time point in relation to a fresh start date (e.g., the recipient's birthday, the first day of spring) increased the likelihood that the mailing recipient chose to increase contributions at that future time point without decreasing their likelihood of increasing contributions immediately. Overall, fresh start framing increased retirement plan contributions in the eight months following the mailing. Our findings represent the first experimental demonstration of the benefits of fresh start framing in a consequential field setting.
Identifiants
pubmed: 34366557
doi: 10.1016/j.obhdp.2021.06.005
pmc: PMC8341022
mid: NIHMS1728570
doi:
Types de publication
Journal Article
Langues
eng
Pagination
72-87Subventions
Organisme : NIA NIH HHS
ID : P01 AG005842
Pays : United States
Organisme : NIA NIH HHS
ID : P30 AG034532
Pays : United States
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