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dc.contributor.authorKast, Felipeen
dc.contributor.authorMeier, Stephanen
dc.contributor.authorPomeranz, Dinaen
dc.date.accessioned2012-05-07-
dc.date.accessioned2012-06-15T07:59:20Z-
dc.date.available2012-06-15T07:59:20Z-
dc.date.issued2012-
dc.identifier.piurn:nbn:de:101:1-201204239864en
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
dc.language.isoengen
dc.publisher|aInstitute for the Study of Labor (IZA) |cBonnen
dc.relation.ispartofseries|aIZA Discussion Papers |x6311en
dc.subject.jelO16en
dc.subject.jelD03en
dc.subject.jelD14en
dc.subject.jelD91en
dc.subject.ddc330en
dc.subject.keywordsavingsen
dc.subject.keywordcommitment deviceen
dc.subject.keywordpeer pressureen
dc.subject.keywordfield experimenten
dc.subject.stwSparenen
dc.subject.stwÖkonomischer Anreizen
dc.subject.stwSelbsthilfeen
dc.subject.stwUnternehmeren
dc.subject.stwNiedrigeinkommenen
dc.subject.stwFeldforschungen
dc.subject.stwChileen
dc.titleUnder-savers anonymous: Evidence on self-help groups and peer pressure as a savings commitment device-
dc.typeWorking Paperen
dc.identifier.ppn715310909en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen

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