退休计划工具是财务能力的替代品还是补充？.pdf

1、Are Retirement Planning Tools Substitutes or Complements toFinancial Capability?Gopi Shah Goda1Matthew R.Levy2Colleen Flaherty Manchester3Aaron Sojourner4Joshua Tasoff5and Jiusi Xiao6June 20241Stanford University and NBER2London School of Economics3University of Minnesota4W.E.Upjohn Institute for Em

2、ployment Research5Claremont Graduate University6Claremont Graduate University1/31IntroductionA large body of evidence indirectly suggests that saving behavior in U.S.defined contribution(DC)plans displays symptoms of cognitive and behavioral biasesLow rate of understanding financial concepts(Lusardi

3、 and Mitchell,2014)Large reliance on defaults(Madrian and Shea,2001;Beshears et al.,2009)Exponential Growth Bias(EGB),present bias,and low financial literacy contribute to lowretirement savings(Goda et al.,2014;Brown and Previtero,2014;Goda et al.,2019;Lusardi and Mitchell,2011).2/31IntroductionPote

4、ntial approaches to guiding people towards“better”decisions:Nudges or choice architectureInformational interventionsPeer effectsKey questions that need to be answered:What factors determine who will respond to the intervention?How do people respond to the intervention on average?Why are people respo

5、nding to the intervention?3/31IntroductionPotential approaches to guiding people towards“better”decisions:Nudges or choice architectureInformational interventionsPeer effectsKey questions that need to be answered:What factors determine who will respond to the intervention?How do people respond to th

6、e intervention on average?Why are people responding to the intervention?4/31IntroductionPotential approaches to guiding people towards“better”decisions:Nudges or choice architectureInformational interventionsPeer effectsKey questions that need to be answered:What factors determine who will respond t