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dc.contributor.authorKast, Felipeen_US
dc.contributor.authorMeier, Stephanen_US
dc.contributor.authorPomeranz, Dinaen_US
dc.date.accessioned2012-05-07en_US
dc.date.accessioned2012-06-15T07:59:20Z-
dc.date.available2012-06-15T07:59:20Z-
dc.date.issued2012en_US
dc.identifier.piurn:nbn:de:101:1-201204239864-
dc.identifier.urihttp://hdl.handle.net/10419/58975-
dc.description.abstractWhile commitment devices such as defaults and direct deposits from wages have been found to be highly effective to increase savings, they are unavailable to the millions of people worldwide who not have a formal wage bill. Self-help peer groups are an alternative commitment device that is widespread and highly accessible, but there is little empirical evidence evaluating their effectiveness. We conduct two randomized field experiments among low-income micro-entrepreneurs in Chile. The first experiment finds that self-help peer groups are very potent at increasing savings. In contrast, a more classical measure, a substantially increased interest rate, has no effect on the vast majority of participants. A second experiment is designed to unbundle the key elements of peer groups as a commitment device, through the use of regular text messages. It finds that surprisingly, actual meetings and peer pressure do not seem to be crucial in making self-help peer groups an effective tool to encourage savings.en_US
dc.language.isoengen_US
dc.publisherIZA Bonnen_US
dc.relation.ispartofseriesDiscussion Paper series, Forschungsinstitut zur Zukunft der Arbeit 6311en_US
dc.subject.jelO16en_US
dc.subject.jelD03en_US
dc.subject.jelD14en_US
dc.subject.jelD91en_US
dc.subject.ddc330en_US
dc.subject.keywordsavingsen_US
dc.subject.keywordcommitment deviceen_US
dc.subject.keywordpeer pressureen_US
dc.subject.keywordfield experimenten_US
dc.subject.stwSparenen_US
dc.subject.stw├ľkonomischer Anreizen_US
dc.subject.stwSelbsthilfeen_US
dc.subject.stwUnternehmeren_US
dc.subject.stwNiedrigeinkommenen_US
dc.subject.stwFeldforschungen_US
dc.subject.stwChileen_US
dc.titleUnder-savers anonymous: Evidence on self-help groups and peer pressure as a savings commitment deviceen_US
dc.typeWorking Paperen_US
dc.identifier.ppn715310909en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen_US
Appears in Collections:IZA Discussion Papers, Forschungsinstitut zur Zukunft der Arbeit (IZA)

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