|
Based on your IP address, your paper is being delivered by:
|
 |
 |
 |
 |
 |
New York, USA
Processing request.
|
Illinois, USA
Processing request.
|
Brussels, Belgium
Processing request.
|
Seoul, Korea
Processing request.
|
California, USA
Processing request.
|
If you have any problems downloading this paper,
please click on another Download Location above, or
File name: SSRN-id958585. ; Size: 112K
|
|
Heuristics and Biases in Retirement Savings Behavior
Shlomo Benartzi
University of California at Los Angeles
Richard H. Thaler
University of Chicago - Booth School of Business; National Bureau of Economic Research (NBER)
Journal of Economic Perspectives, Forthcoming
Abstract:
Saving for retirement is a difficult problem, and most employees have little training upon which to draw in making the relevant decisions. Perhaps as a result, investors are relatively passive. They are slow to join advantageous plans; they make infrequent changes; and they adopt naïve diversification strategies. In short, they need all the help they can get. Fortunately, many effective ways to help participants are also the least costly interventions: namely, small changes in plan design, sensible default options and opportunities to increase savings rates and rebalance portfolios automatically. These design features help less sophisticated investors while maintaining flexibility for more sophisticated types.
Number of Pages in PDF File: 41
Keywords: Retirement savings, 401(k) plans, behavioral finance
Accepted Paper Series
Download This Paper
Date posted: January 22, 2007
Suggested CitationBenartzi, Shlomo and Thaler, Richard H., Heuristics and Biases in Retirement Savings Behavior. Journal of Economic Perspectives, Forthcoming. Available at SSRN: http://ssrn.com/abstract=958585
|
| Feedback to SSRN (Beta) |
|
|
|
|
|
|
