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...
| Main Authors: | , , , , |
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| Other Authors: | |
| Format: | Article |
| Language: | en_US |
| Published: |
MIT Press
2010
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| Online Access: | http://hdl.handle.net/1721.1/58100 |