Policymakers and business leaders often use peer comparison information—showing people how their behavior compares to that of their peers—to motivate a range of behaviors. Despite their widespread use, the potential impact of peer comparison interventions on recipients’ well-being is...

Temporal landmarks, especially those that signal new beginnings, have been shown to spur goal initiation. We draw attention to a dark side of temporal landmarks by examining the effects of anticipated temporal landmarks on motivation to persist in an ongoing goal. Across an archival study and...

Wage transparency has become increasingly prevalent across industries as a result of government mandates, companies' voluntary disclosure, and digitization. A commonly cited benefit of wage transparency is that it can prompt underpaid workers to negotiate and thus reduce wage inequality. To...

We analyze the long-standing “annuity puzzle” through the lens of behavioral economics. We provide novel evidence that lessens the extent of the puzzle and shed some additional light on the real drivers of the decision to annuitize. Last, we discuss the policy implications of our findings

Research on choice architecture is shaping policy around the world, touching on areas ranging from retirement economics to environmental issues. Recently, researchers and policy makers have begun paying more attention not just to choice architecture but also to information architecture, or the...

The average nominal share prices of common stocks traded on the New York Stock Exchange have remained constant at approximately $35 per share since the Great Depression as a result of stock splits. It is surprising that U.S. firms actively maintained constant nominal prices for their shares...

Some eleven million 401(k) plan participants take a concentrated equity position in their retirement savings account, investing more than 20% of the balance in their employer's common stock. Yet investing in the stock of one's employer is a risky investment on two counts: single securities are...

Despite the successes of automatic enrollment (AE) in raising participation, a significant share of 401(k) enrollees remain at-risk for retirement insecurity. We assert that this risk may be shaped by an employee's initial decision to either confirm enrollment at the default rate or to...