The DOI matches its Crossref record; 9 of the 9 references it cites were found in a registry or an index.
The Effect of Providing Peer Information on Retirement Savings Decisions
Open accessAbstract
Using a field experiment in a 401(k) plan, we measure the effect of disseminating information about peer behavior on savings. Low‐saving employees received simplified plan enrollment or contribution increase forms. A randomized subset of forms stated the fraction of age‐matched coworkers participating in the plan or age‐matched participants contributing at least 6% of pay to the plan. We document an oppositional reaction: the presence of peer information decreased the savings of nonparticipants who were ineligible for 401(k) automatic enrollment, and higher observed peer savings rates also decreased savings. Discouragement from upward social comparisons seems to drive this reaction.
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Cites
A theory of social comparison processes
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Locke, E. A., & Latham, G. P. (2002) · American Psychologist · doi:10.1037/0003-066x.57.9.705 · Cited by 7,766
Implementation intentions: Strong effects of simple plans.
Gollwitzer, P. M. (1999) · American Psychologist · doi:10.1037/0003-066x.54.7.493 · Cited by 5,478
The Constructive, Destructive, and Reconstructive Power of Social Norms
Schultz, P. W., Nolan, J. M., Cialdini, R. B., Goldstein, N. J., & Griskevicius, V. (2007) · Psychological Science · doi:10.1111/j.1467-9280.2007.01917.x · Cited by 3,643
A Room with a Viewpoint: Using Social Norms to Motivate Environmental Conservation in Hotels
Goldstein, N. J., Cialdini, R. B., & Griskevicius, V. (2008) · Journal of Consumer Research · doi:10.1086/586910 · Cited by 3,409
Social norms and energy conservation
Allcott, H. (2011) · Journal of Public Economics · doi:10.1016/j.jpubeco.2011.03.003 · Cited by 2,802
Experimental Study of Inequality and Unpredictability in an Artificial Cultural Market
Salganik, M. J., Dodds, P. S., & Watts, D. J. (2006) · Science · doi:10.1126/science.1121066 · Cited by 2,231
Learning by doing and learning from others: Human capital and technical change in agriculture
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A Focus Theory of Normative Conduct: When Norms Do and Do not Affect Behavior
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Cited by
Social norms and energy conservation
Allcott, H. (2011) · Journal of Public Economics · doi:10.1016/j.jpubeco.2011.03.003 · Cited by 2,802
Allcott, H., & Rogers, T. (2014) · American Economic Review · doi:10.1257/aer.104.10.3003 · Cited by 1,340
(2014) · Econometrica · doi:10.3982/ecta11991 · Cited by 586
Savings by and for the Poor: A Research Review and Agenda
Karlan, D., Ratan, A. L., & Zinman, J. (2014) · Review of Income and Wealth · doi:10.1111/roiw.12101 · Cited by 548
Social Learning and Incentives for Experimentation and Communication
BenYishay, A., & Mobarak, A. M. (2019) · The Review of Economic Studies · doi:10.1093/restud/rdy039 · Cited by 328
Metadata
- Authors
- BESHEARS, J., CHOI, J. J., LAIBSON, D., MADRIAN, B. C., & MILKMAN, K. L.
- Venue
- The Journal of Finance
- Publisher
- Wiley
- Published
- 2015-05-11
- Volume
- 70
- Issue
- 3
- Pages
- 1161-1201
- ISSN
- 0022-1082 (ISSN-L)
- 1540-6261
- OpenAlex
- W2098716691
- Cited by
- 443
- References
- 9
- FWCI
- 178.30
- Type
- journal article
- Language
- en
- Open access
- bronze
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Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).
Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.
