We use transaction data from an account aggregation company to study the impact of access to personal financial information from mobile devices on consumer behavior. We study consumers who installed the mobile app after using the app from a PC for several months. We utilize the gradual release...

We use pension asset allocation data to examine the relation between the expected long-term rate of return (ERR) on pension assets and the amount of funds allocated by fund managers to equity securities. If firms use their best estimate of the ERR, then cross-sectional differences in the ERR...

We identify and test motives for corporate pension asset allocations using a proprietary asset allocation database covering the 1988-1994 period. We focus on the question of whether the recognition of additional minimum pension liability in accordance with SFAS No. 87 affects asset allocation....

Many companies and policymakers would like to reduce retirement savings gaps between ethnicities, gender, and income bands. Choice architecture, such as automatic enrollment, is one tool to help reduce such gaps. Yet not all employers want automatic features. This raises the question whether...

Many employers have increased the default contribution rates in their retirement plans, generating higher employee savings. However, a large fraction of employers are reluctant to default employees into savings rates that are high enough to leave those employees adequately prepared for...

We conducted a field experiment to study the effect of framing future moments in time as new beginnings (or “fresh starts”). University employees (N=6,082) received mailings with an opportunity to choose between increasing their contributions to a savings plan immediately or at a specified...