Choi, James J.; Laibson, David; Madrian, Brigitte C.; … - 2021
extreme defaults, which are far away from the mean optimal savings rate. A default that is far away from a consumer's optimal … savings rate may make that consumer better off since such a bad' default will lead procrastinating consumers to more quickly … companies. Our work suggests that optimal defaults are likely to be at one of three savings rates: the minimum savings rate (i …