Three of the pilot projects that we propose below draw directly on the research described in 3.1 of the Overview to this application. Two of our proposed pilot projects draw on our eariier research on the impact of defaults on participation in employer-sponsored 401 (k) savings plans. This research shows that savings plan participation is substantially higher when employees must opt out of savings plan participation (automatic enrollment) rather than when employees must opt into the savings plan (Madrian and Shea 2001;Choi et al. 2002, 2004a, 2006;Choi, Laibson and Madrian 2004;Beshears et al. 2008). Our proposed pilot projects extend this research to the domains of health, specifically prescription drug adherence and influenza vaccines (Projects 1 and 3 below). Three of our proposed pilot projects draw on our eariier research on simplified enrollment choices and savings plan participation. Choi, Laibson, and Madrian (forthcoming) and Beshears et al. (2006) show that when employees must opt into their employer's savings plan, participation rates are substantially higher when the enrollment process is simplified by providing employees with the option of choosing a pre-selected contribution rate and asset allocation bundle. When such an option is available, employees can effectively separate the participation decision from the more complicated decision about the most appropriate contribution rate and asset allocation for their circumstances. This research is reflected in our pilot projects on prescription drug adherence and influenza vaccines (Projects 1, 2 and 3 below). Our two proposed pilot projects on prescription drug adherence (Projects 1 and 2) are also informed by our previous research on how requiring an active participation decision affects savings plan participation (Carroll et al 2008). This research shows that when employees must opt into savings plan participation, enrollment rates are substantially higher when procrastination is forestalled by requiring employees to make either an explicit affirmative or negative participation election within a specified time frame. The last of our proposed pilot projects draws on the research of social psychologists on peer pressure and social comparisons (Asch 1951;Festinger 1954;Jones and Gerard 1967;Cason and Mui 1997;Suls and Wheeler 2000;Gerber, Green, and Larimer 2008) and that of economists on information aggregation (e.g., Banerjee 1992). We are in the eariy stages of evaluating a very simple prototype of an intervention designed to encourage savings plan participation by giving employees information on the fraction of their coworkers participating in their employer's savings plan. The intervention has been implemented, although we have not yet received data on the effects from the firm that is cooperating with us on this research.
| Turley, Patrick; Walters, Raymond K; Maghzian, Omeed et al. (2018) Multi-trait analysis of genome-wide association summary statistics using MTAG. Nat Genet 50:229-237 |
| Beshears, John; Choi, James J; Laibson, David et al. (2017) Does front-loading taxation increase savings? Evidence from Roth 401(k) introductions. J Public Econ 151:84-95 |
| Alsan, Marcella; Beshears, John; Armstrong, Wendy S et al. (2017) A commitment contract to achieve virologic suppression in poorly adherent patients with HIV/AIDS. AIDS 31:1765-1769 |
| Beshears, John; Choi, James J; Laibson, David et al. (2017) Does Aggregated Returns Disclosure Increase Portfolio Risk Taking? Rev Financ Stud 30:1971-2005 |
| Beshears, John; Choi, James J; Laibson, David I et al. (2016) Vaccination Rates are Associated With Functional Proximity But Not Base Proximity of Vaccination Clinics. Med Care 54:578-83 |
| Rogers, Todd; Milkman, Katherine L (2016) Reminders Through Association. Psychol Sci 27:973-86 |
| Beshears, John; Choi, James J; Hurwitz, Joshua et al. (2015) Liquidity in Retirement Savings Systems: An International Comparison. Am Econ Rev 105:420-425 |
| Chow, Jeremy Y; Alsan, Marcella; Armstrong, Wendy et al. (2015) Risk factors for AIDS-defining illnesses among a population of poorly adherent people living with HIV/AIDS in Atlanta, Georgia. AIDS Care 27:844-8 |
| Milkman, Katherine L; Minson, Julia A; Volpp, Kevin G M (2014) Holding the Hunger Games Hostage at the Gym: An Evaluation of Temptation Bundling. Manage Sci 60:283-299 |
| Beshears, John; Choi, James J; Laibson, David et al. (2014) What Makes Annuitization More Appealing? J Public Econ 116:2-16 |
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