Getting to the Top of Mind: How Reminders Increase Saving

• 成果类型: Article
• 署名作者: Karlan, Dean; McConnell, Margaret; Mullainathan, Sendhil; Zinman, Jonathan
• 署名单位: Yale University; Harvard University; Harvard T.H. Chan School of Public Health; Harvard University; Dartmouth College
• 刊物名称: MANAGEMENT SCIENCE
• ISSN/ISSBN: 0025-1909
• DOI: 10.1287/mnsc.2015.2296
• 发表日期: 2016
• 页码: 3393-3411
• 关键词: economics: microeconomic behavior; behavior and behavioral decision making; finance

摘要

We provide evidence from field experiments with three different banks that reminder messages increase commitment attainment for clients who recently opened commitment savings accounts. Messages that mention both savings goals and financial incentives are particularly effective, whereas other content variations such as gain versus loss framing do not have significantly different effects. Nor do we find evidence that receiving additional late reminders has an additive effect. These empirical results do not map neatly into existing models, so we provide a simple model where limited attention to exceptional expenses can generate undersaving that is in turn mitigated by reminders.