Carroll, Gabriel D.; Choi, James J.; Laibson, David; … - In: The Quarterly Journal of Economics 124 (2009) 4, pp. 1639-1674
Defaults often have a large influence on consumer decisions. We identify an overlooked but practical alternative to defaults: requiring individuals to make explicit choices for themselves. We study such "active decisions" in the context of 401(k) saving. We find that compelling new hires to make...