Pennies Reframing of Savings Rates

In three survey-based studies, we explore a novel, retirement savings rate choice architecture using a pennies per dollar of salary framing instead percent of salary framing. This small change of reframing choices impacts people’s perceptions of affordability and leads people to select higher savings and savings escalator rates.


Stephen Shu, Hal Hershfield, Shlomo Benartzi, and Richard Mason (2020) ,"Pennies Reframing of Savings Rates", 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: 1064-1058.


Stephen Shu, City University of London, UK
Hal Hershfield, University of California Los Angeles, USA
Shlomo Benartzi, University of California Los Angeles, USA
Richard Mason, Carnegie Mellon University, USA


NA - Advances in Consumer Research Volume 48 | 2020

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