Getting to the top of mind

Karlan, Dean, Margaret McConnell, Sendhil Mullainathan, and Jonathan Zinman. “Getting to the top of mind”. CRR WP 2010-4, Chestnut Hill, Mass.: Center for Retirement Research at Boston College, April 2010. http://hdl.handle.net/2345/bc-ir:104869.
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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 other models of present-bias. Our model also generates the unique predictions that reminders will increase saving, and that a reminder that makes a specific expenditure more salient will be especially effective. We find support for these predictions in three field experiments that randomly assign reminders to new savings account holders.

Title
Getting to the top of mind: How reminders increase saving
Author
Karlan, Dean
McConnell, Margaret
Mullainathan, Sendhil
Zinman, Jonathan
Center
Center for Retirement Research
Genre
working paper
Date Issued
April 2010
Publisher
Center for Retirement Research at Boston College
Series Title
CRR WP
Series Number
2010-4
Persistent Link
http://hdl.handle.net/2345/bc-ir:104869
Use Restrictions
These materials are made available for use in research, teaching and private study, pursuant to U.S. Copyright Law. The user must assume full responsibility for any use of the materials, including but not limited to, infringement of copyright and publication rights of reproduced materials. Any materials used for academic research or otherwise should be fully credited with the source. The publisher or original authors may retain copyright to the materials.
Subject
Financing retirement

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