Record Details

Getting to the Top of Mind: How Reminders Increase Savings

Harvard Dataverse (Africa Rice Center, Bioversity International, CCAFS, CIAT, IFPRI, IRRI and WorldFish)

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Field Value
 
Title Getting to the Top of Mind: How Reminders Increase Savings
 
Identifier https://doi.org/10.7910/DVN/UJD5OP
 
Creator Karlan, Dean
McConnell, Margaret
Mullainathan, Sendhil
Zinman, Jonathan
 
Publisher Harvard Dataverse
 
Description We provide evidence from field experiments with three different banks that reminder messages increase commitment attainment for clients who recently opened commitment savings accounts. Messages that mention both savings goals and financial incentives are particularly effective, whereas other content variations such as gain versus loss framing do not have significantly different effects. Nor do we find evidence that receiving additional late reminders has an additive effect. These empirical results do not map neatly into existing models, so we provide a simple model where limited attention to exceptional expenses can generate undersaving that is in turn mitigated by reminders.
 
Subject Social Sciences
economics: microeconomic behavior
behavior and behavioral decision making
finance
 
Contributor Research Transparency, Data Ethics, and Governance, Innovations for Poverty Action
 
Type Administrative data