Optimal Defaults and Active Decisions

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 to make...

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Bibliographic Details
Main Authors: Carroll, Gabriel Drew, Choi, James J., Laibson, David, Madrian, Brigitte C., Metrick, Andrew
Other Authors: Massachusetts Institute of Technology. Department of Economics
Format: Article
Language:en_US
Published: MIT Press 2010
Online Access:http://hdl.handle.net/1721.1/58100

Internet

http://hdl.handle.net/1721.1/58100

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