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| Title: | Getting to the Top of Mind: How Reminders Increase Saving |
| Authors: | Karlan, Dean S.
McConnell, Margaret
Mullainathan, Sendhil
Zinman, Jonathan |
| Authors (Email): | Karlan, Dean (dean.karlan@yale.edu)
McConnell, Margaret (mmcconne@hsph.harvard.edu)
Mullainathan, Sendhil (mullain@fas.harvard.edu)
Zinman, Jonathan (jzinman@dartmouth.edu) |
| Keywords: | intertemporal consumer choice
savings
attention |
| JEL Codes: | D91
E21 |
| Issue Date: | 2010-07 |
| Series/Report no.: | Economic Growth Center Discussion Paper
988 |
| Abstract: | We develop and test a simple model of limited attention in intertemporal choice.
The model posits that individuals fully attend to consumption in all periods but fail to attend to some future lumpy expenditure opportunities. This asymmetry generates some predictions that overlap with models of present-bias. Our model also generates the unique predictions that
reminders may increase saving, and that reminders will be more effective when they increase the salience of a specific expenditure. We find support for these predictions in three field experiments
that randomly assign reminders to new savings account holders. |
| URI: | http://purl.umn.edu/92001 |
| Institution/Association: | Yale University>Economic Growth Center>Center Discussion Papers |
| Total Pages: | 40 |
| Collections: | Center Discussion Papers
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| cdp988.pdf | | 786Kb | PDF | View/Open |
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