dc.contributor.author | Carpenter, JP | |
dc.contributor.author | Huet-Vaughn, E | |
dc.contributor.author | Matthews, PH | |
dc.contributor.author | Robbett, A | |
dc.contributor.author | Beckett, D | |
dc.contributor.author | Jamison, JC | |
dc.date.accessioned | 2019-10-03T14:01:31Z | |
dc.date.issued | 2019-11-01 | |
dc.description.abstract | 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. | en_GB |
dc.identifier.citation | Published online 1 November 2019 | en_GB |
dc.identifier.doi | 10.1162/rest_a_00881 | |
dc.identifier.uri | http://hdl.handle.net/10871/39023 | |
dc.language.iso | en | en_GB |
dc.publisher | Massachusetts Institute of Technology Press (MIT Press) / Harvard University, Kennedy School of Government | en_GB |
dc.rights | © 2019 by the President and Fellows of Harvard College and the Massachusetts Institute of Technology | |
dc.subject | consumer finance | en_GB |
dc.subject | prepaid card | en_GB |
dc.subject | choice architecture | en_GB |
dc.subject | attribute overload | en_GB |
dc.subject | experiment | en_GB |
dc.subject | structural estimation | en_GB |
dc.subject | time preference | en_GB |
dc.subject | risk preference | en_GB |
dc.subject | convex time budget | en_GB |
dc.subject | welfare | en_GB |
dc.title | Choice Architecture to Improve Financial Decision Making | en_GB |
dc.type | Article | en_GB |
dc.date.available | 2019-10-03T14:01:31Z | |
dc.identifier.issn | 1530-9142 | |
dc.description | This is the author accepted manuscript. The final version is available from MIT Press via the DOI in this record | en_GB |
dc.identifier.journal | Review of Economics and Statistics | en_GB |
dc.rights.uri | http://www.rioxx.net/licenses/all-rights-reserved | en_GB |
dcterms.dateAccepted | 2019-08-14 | |
rioxxterms.version | AM | en_GB |
rioxxterms.type | Journal Article/Review | en_GB |
refterms.dateFCD | 2019-10-03T13:59:49Z | |
refterms.versionFCD | AM | |
refterms.dateFOA | 2019-11-14T10:00:41Z | |
refterms.panel | C | en_GB |