We combine survey data from retirement plan members with information from interviews with plan executives to get both perspectives on who accepts the default plan and default investment option and why. We use a natural experiment in default construction where a new regulatory framework required...

We conduct a choice experiment to investigate the impact of the financial crisis of 2008 on retirement saver investment choice and risk aversion. Analysis of estimated individual risk parameters shows a small increase in mean risk aversion between the relatively tranquil period of early 2007 and...

We conducted a choice experiment to investigate whether retirement savers follow simple portfolio theory when choosing investments. We modeled experimental survey data on 693 participants using a scale-adjusted version of the latent class choice model. Results show that underlying variability in...

Here we test the usefulness of a discrete choice experiment (DCE) for identifying individuals who consistently exhibit concave utility over returns to wealth, despite variations in the framing of risk. At the same time, we test the relative strengths of nine standard descriptions of investment...

Using an online incentivized discrete choice experiment, we study how well individuals judge financial advice and whether factors other than advice quality influence their evaluations. We find evidence that some individuals rely on extraneous signals to judge advice quality and observe some...

The need to develop appropriate computer training techniques has led to an explosion of research in information systems. One of the most recent studies was conducted by Compeau and Higgins (1995) in which two training methods were examined in the context of Social Cognitive Learning Theory...