Choice Architecture to Improve Financial Decision Making
成果类型：
Article
署名作者：
Carpenter, Jeffrey; Huet-Vaughn, Emiliano; Matthews, Peter Hans; Robbett, Andrea; Beckett, Dustin; Jamison, Julian
署名单位：
Middlebury College; IZA Institute Labor Economics; Claremont Colleges; Pomona College; Aalto University; University of Exeter
刊物名称：
REVIEW OF ECONOMICS AND STATISTICS
ISSN/ISSBN：
0034-6535
DOI：
10.1162/rest_a_00881
发表日期：
2021-03
页码：
102-118
关键词：
摘要：
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 that the regulation-inspired presentation may increase best card choice and clear evidence that the enhanced reform reduces worst card choice. Welfare analysis suggests the regulation-inspired presentation offers modest gains, while the enhanced policy generates substantial benefits.
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