American Economic Journal:
Economic Policy
ISSN 1945-7731 (Print) | ISSN 1945-774X (Online)
Details Matter: The Impact of Presentation and Information on the Take-Up of Financial Incentives for Retirement Saving
American Economic Journal: Economic Policy
vol. 1,
no. 1, February 2009
(pp. 204–28)
Abstract
We examine the effects of presentation and information on the take-up of financial subsidies for retirement saving in a large randomized experiment carried out with H&R Block. The subsidies raise take-up and contributions with larger effects when the subsidy is characterized as a matching contribution rather than an equivalent-value tax credit (or cash back), and when filers are informed before the tax season about the subsidy. The results imply that both pure incentives and the presentation of those incentives affect consumer choices. (JEL D14, H24, H31, J26)Citation
Saez, Emmanuel. 2009. "Details Matter: The Impact of Presentation and Information on the Take-Up of Financial Incentives for Retirement Saving." American Economic Journal: Economic Policy, 1 (1): 204–28. DOI: 10.1257/pol.1.1.204Additional Materials
JEL Classification
- D14 Personal Finance
- H24 Personal Income and Other Nonbusiness Taxes and Subsidies; includes inheritance and gift taxes
- H31 Fiscal Policies and Behavior of Economic Agents: Household
- J26 Retirement; Retirement Policies
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