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  1. Motivated reasoning, information avoidance, and default bias
    Erschienen: April 2022
    Verlag:  Max Planck Institute for Research on Collective Goods, Bonn

    We investigate whether the presence of a default interacts with the willingness of decision-makers to gather, process and consider information. In an online experiment, where about 2,300 participants choose between two compiled charity donation... mehr

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    We investigate whether the presence of a default interacts with the willingness of decision-makers to gather, process and consider information. In an online experiment, where about 2,300 participants choose between two compiled charity donation options worth $ 100, we vary the availability of information and the presence of a default. Information avoidance, when possible, increases default effects considerably, manifesting a hitherto undocumented channel of the default bias. Moreover, we show that defaults trigger motivated reasoning: In the presence of a default - even if self-selected-, participants consider new information to a lower degree than without a preselected option.

     

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    Quelle: Verbundkataloge
    Sprache: Englisch
    Medientyp: Buch (Monographie)
    Format: Online
    Weitere Identifier:
    hdl: 21.11116/0000-000A-3221-8
    hdl: 10419/262308
    Schriftenreihe: Discussion papers of the Max Planck Institute for Research on Collective Goods ; 2022, 3
    Schlagworte: Motivated reasoning; information avoidance; defaults; statusquo; charitable giving; experiment
    Umfang: 1 Online-Ressource (circa 39 Seiten), Illustrationen
  2. Self-nudging vs. social nudging in social dilemmas
    an experiment
    Erschienen: February 21, 2022
    Verlag:  Heidelberg University, Department of Economics, Heidelberg

    The exogenous manipulation of choice architectures to achieve social ends ('social nudges') can raise problems of effectiveness and ethicality because it favors group outcomes over individual outcomes. One answer is to give individuals control over... mehr

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    The exogenous manipulation of choice architectures to achieve social ends ('social nudges') can raise problems of effectiveness and ethicality because it favors group outcomes over individual outcomes. One answer is to give individuals control over their nudge ('self-nudge'), but the trade-offs involved are poorly understood. We examine how subjects self-nudge in a paradigmatic social dilemma setting and whether outcomes differ between the self-nudge and two exogenous nudges in line with perfect free-riding or full cooperation. Subjects recruited from the general population play a ten-round VCM online in fixed groups of four with one daily contribution decision. The nudge takes the shape of a non-participation default contribution, comparing zero, full, and self-determined levels. We find that the average self-nudge is 44% of the endowment and only 7% of subjects choose one of the two exogenous defaults. Yet, there is a hard trade-off between ethicality and effectiveness: Self-nudging groups do not better than groups under the perfect free-riding nudge. The reason is that non-defaulting subjects contribute less. Groups under the full cooperation default exhibit no reactance against the nudge and outperform both alternative choice architectures.

     

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    Sprache: Englisch
    Medientyp: Buch (Monographie)
    Format: Online
    Weitere Identifier:
    hdl: 10419/261075
    Schriftenreihe: AWI discussion paper series ; no. 710 (February 2022)
    Schlagworte: Nudging; choice architecture; defaults; public goods; behavioral economics; experiment
    Umfang: 1 Online-Ressource (33, [15] Seiten), Illustrationen
  3. Motivated reasoning, information avoidance, and default bias
    Erschienen: [2022]
    Verlag:  Research platform Empirical and Experimental Economics, University of Innsbruck, Innsbruck, Austria

    We investigate whether the presence of a default interacts with the willingness of decision-makers to gather, process and consider information. In an online experiment, where about 2,300 participants choose between two compiled charity donation... mehr

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    We investigate whether the presence of a default interacts with the willingness of decision-makers to gather, process and consider information. In an online experiment, where about 2,300 participants choose between two compiled charity donation options worth $100, we vary the availability of information and the presence of a default. Information avoidance, when possible, increases default effects considerably, manifesting a hitherto undocumented channel of the default bias. Moreover, we show that defaults trigger motivated reasoning: In the presence of a default - even if self-selected-, participants consider new information to a lower degree than without a preselected option.

     

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    Quelle: Verbundkataloge
    Sprache: Englisch
    Medientyp: Buch (Monographie)
    Format: Online
    Weitere Identifier:
    hdl: 10419/273678
    Schriftenreihe: Working papers in economics and statistics ; 2022, 5
    Schlagworte: Motivated reasoning; information avoidance; defaults; status quo; charitable giving; experiment
    Umfang: 1 Online-Ressource (circa 43 Seiten), Illustrationen
  4. Estimating the mortgage default probability in Cyprus
    evidence using micro data
    Erschienen: June 2022
    Verlag:  Central Bank of Cyprus, Nicosia, Cyprus

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    Sprache: Englisch
    Medientyp: Buch (Monographie)
    Format: Online
    Schriftenreihe: Working paper series / Central Bank of Cyprus ; 2022, 1
    Schlagworte: Eurosystem HFCS; survey; defaults; probability; households
    Umfang: 1 Online-Ressource (circa 22 Seiten)
  5. Set it and forget it?
    financing retirement in an age of defaults
    Erschienen: [2022]
    Verlag:  Federal Reserve Bank of Chicago, [Chicago, Illinois]

    Retirement savings abandonment is a rising concern connected to defined contribution systems and default enrollment. We use tax data on Individual Retirement Accounts (IRAs) to establish that for a recent cohort, 0.4% of retirement-age individuals... mehr

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    Retirement savings abandonment is a rising concern connected to defined contribution systems and default enrollment. We use tax data on Individual Retirement Accounts (IRAs) to establish that for a recent cohort, 0.4% of retirement-age individuals abandoned an aggregate of $66 million, proxied by a failure to claim over ten years after a legal requirement to do so. Analysis of state unclaimed property databases suggests that workplace defined contribution plans are abandoned at a higher rate than IRAs. Finally, regression discontinuity estimates show that certain accounts created by default enrollment are at higher risk of abandonment by passive savers.

     

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    Quelle: Verbundkataloge
    Sprache: Englisch
    Medientyp: Buch (Monographie)
    Format: Online
    Weitere Identifier:
    hdl: 10419/272810
    Schriftenreihe: [Working paper] / Federal Reserve Bank of Chicago ; WP 2022, 50 (October 19, 2022)
    Schlagworte: retirement savings; defaults; escheatment
    Umfang: 1 Online-Ressource (circa 64 Seiten), Illustrationen
  6. Nudging in the workplace
    increasing participation in employee EDI wellness events
    Erschienen: 2022
    Verlag:  UCD School of Economics, University College Dublin, Dublin

    Organisations are investing significant resources in promoting the physical, emotional, and psychological well-being of their employees. In hybrid working environments, virtual worker wellness events are increasingly being used to combat social... mehr

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    Organisations are investing significant resources in promoting the physical, emotional, and psychological well-being of their employees. In hybrid working environments, virtual worker wellness events are increasingly being used to combat social isolation and boost employee morale. Yet attendance at such events is often low. Using a randomised control trial, this study tests whether four behaviourally informed nudges (i) simplification, (ii) changing the messenger, (iii) using social proof and (iv) setting a default, can increase the registration and attendance rates of 6,998 public sector employees at three EDI (Equality Diversity Inclusion) wellness events. We find evidence that defaults matter. Pre-registering employees more than trebles the attendance rate, from 2.8% to 9.5%. While providing social proof and changing the messenger increase registration rates, they have no impact on attendance. We find little evidence of treatment heterogeneity, suggesting that defaults may have wide applicability. Our results have important implications for organisations seeking to enhance the impact and return on investment of their worker wellness initiatives.

     

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    Sprache: Englisch
    Medientyp: Buch (Monographie)
    Format: Online
    Schriftenreihe: Working paper series / UCD Centre for Economic Research ; WP22, 24 (October 2022)
    Schlagworte: behavioural economics; nudge; RCT; worker well-being; defaults
    Umfang: 1 Online-Ressource (circa 74 Seiten), Illustrationen
  7. Nudging in the workplace
    increasing participation in employee EDI wellness events
    Erschienen: [2022]
    Verlag:  Geary Institute, University College Dublin, [Dublin]

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    Schriftenreihe: UCD Geary Institute for Public Policy discussion paper series ; Geary WP2022, 08 (October 03, 2022)
    Schlagworte: behavioural economics; nudge; RCT; worker well-being; defaults
    Umfang: 1 Online-Ressource (circa 88 Seiten), Illustrationen
  8. Retirement eggs and retirement baskets
    Erschienen: [2022]
    Verlag:  CEPAR, ARC Centre of Excellence in Population Ageing Research, [Kensington, NSW]

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    Sprache: Englisch
    Medientyp: Buch (Monographie)
    Format: Online
    Schriftenreihe: Working paper / CEPAR, ARC Centre of Excellence in Population Ageing Research ; 2022, 07
    Schlagworte: lifetime savings; portfolio choice; income risk; defaults; method of moments
    Umfang: 1 Online-Ressource (circa 92 Seiten), Illustrationen
  9. Estimating the mortgage default probability in Cyprus
    evidence using micro data
    Erschienen: [2022]
    Verlag:  University of Cyprus, Economics Research Centre, [Nicosia]

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    Sprache: Englisch
    Medientyp: Buch (Monographie)
    Format: Online
    Schriftenreihe: Economic policy papers ; no. 22, 01 (June 2022)
    Schlagworte: Eurosystem HFCS; survey; defaults; probability; households
    Umfang: 1 Online-Ressource (circa 23 Seiten)