Study • Finance · Savings
Save More Tomorrow’.
Benartzi & Thaler (2004), ‘Save More Tomorrow’, Journal of Political Economy.
Summary by Mark Egan
The ‘Save More Tomorrow’ [SMarT] program used defaults to increase employees’ savings rates by automatically increasing the % of their wage devoted to saving. Average saving rates for SMarT program participants increased from 3.5% to 13.6% over the course of 40 months. This is one of the most famous nudges.
Tactics used
TACTICS
Smart Defaults
Behaviors addressed
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