Save More Later? the Roles of Present Bias and Perceived Urgency

Contrary to prior work, our field experiment (N=5,196) finds that allowing people to precommit to increase savings later caused them to save less. Lab studies suggest that offering precommitment, while reducing the pain of doing farsighted behavior, yields inferences that the choice architect less urgently recommends the behavior.



Citation:

Joseph Reiff, John Beshears, Hengchen Dai, Katherine Milkman, and Shlomo Benartzi (2020) ,"Save More Later? the Roles of Present Bias and Perceived Urgency", in NA - Advances in Consumer Research Volume 48, eds. Jennifer Argo, Tina M. Lowrey, and Hope Jensen Schau, Duluth, MN : Association for Consumer Research, Pages: 1101-1105.

Authors

Joseph Reiff, University of California Los Angeles, USA
John Beshears, Harvard Business School, USA
Hengchen Dai, University of California Los Angeles, USA
Katherine Milkman, University of Pennsylvania, USA
Shlomo Benartzi, University of California Los Angeles, USA



Volume

NA - Advances in Consumer Research Volume 48 | 2020



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