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Title:Getting to the top of mind: How reminders increase saving PDF Logo
Authors:Karlan, Dean
McConnell, Margaret
Mullainathan, Sendhil
Zinman, Jonathan
Issue Date:2010
Series/Report no.:Center Discussion Paper, Economic Growth Center 988
Abstract:We develop and test a simple model of limited attention in intertemporal choice. The model posits that individuals fully attend to consumption in all periods but fail to attend to some future lumpy expenditure opportunities. This asymmetry generates some predictions that overlap with models of present-bias. Our model also generates the unique predictions that reminders may increase saving, and that reminders will be more effective when they increase the salience of a specific expenditure. We find support for these predictions in three field experiments that randomly assign reminders to new savings account holders.
Subjects:intertemporal consumer choice
savings
attention
JEL:D91
E21
Document Type:Working Paper
Appears in Collections:Center Discussion Papers, Economic Growth Center (EGC), Yale University

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