Deciding to invest responsibly: Choice architecture and demographics in an incentivised retirement savings experiment

Hoffmann, R; Cam, MA; Camilleri, AR

Deciding to invest responsibly: Choice architecture and demographics in an incentivised retirement savings experiment

Hoffmann, R Cam, MA Camilleri, AR

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Publication Type:: Journal Article
Citation:: Journal of Behavioral and Experimental Economics, 2019, 80 pp. 219 - 230
Issue Date:: 2019-06-01

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Field	Value	Language
dc.contributor.author	Hoffmann, R	en_US
dc.contributor.author	Cam, MA	en_US
dc.contributor.author	Camilleri, AR https://orcid.org/0000-0002-9795-9597	en_US
dc.date.available	2019-04-29	en_US
dc.date.issued	2019-06-01	en_US
dc.identifier.citation	Journal of Behavioral and Experimental Economics, 2019, 80 pp. 219 - 230	en_US
dc.identifier.issn	2214-8043	en_US
dc.identifier.uri	http://hdl.handle.net/10453/135052
dc.description.abstract	© 2019 We report results from a framed field experiment with a realistic retirement savings simulation to examine two factors in socially responsible investment (SRI) decisions: characteristics of investors and the investment choice architecture. We find that default options, age and values are significant explanators while infographics, gender, education and income are not. Further, repeated decisions affect SRI negatively through donor fatigue and positively through windfall gains. Our results suggest SRI is significantly limited by the non-ethical default options pension providers commonly set. Conversely there is scope for nudging pension savers towards socially responsible investments using defaults.	en_US
dc.relation.ispartof	Journal of Behavioral and Experimental Economics	en_US
dc.relation.isbasedon	10.1016/j.socec.2019.04.005	en_US
dc.rights	info:eu-repo/semantics/closedAccess
dc.title	Deciding to invest responsibly: Choice architecture and demographics in an incentivised retirement savings experiment	en_US
dc.type	Journal Article
utslib.citation.volume	80	en_US
utslib.for	1402 Applied Economics	en_US
utslib.for	1505 Marketing	en_US
pubs.embargo.period	Not known	en_US
pubs.organisational-group	/University of Technology Sydney
pubs.organisational-group	/University of Technology Sydney/Faculty of Business
pubs.organisational-group	/University of Technology Sydney/Faculty of Business/Marketing Discipline
utslib.copyright.status	closed_access	*
pubs.publication-status	Published	en_US
pubs.volume	80	en_US

Abstract:

© 2019 We report results from a framed field experiment with a realistic retirement savings simulation to examine two factors in socially responsible investment (SRI) decisions: characteristics of investors and the investment choice architecture. We find that default options, age and values are significant explanators while infographics, gender, education and income are not. Further, repeated decisions affect SRI negatively through donor fatigue and positively through windfall gains. Our results suggest SRI is significantly limited by the non-ethical default options pension providers commonly set. Conversely there is scope for nudging pension savers towards socially responsible investments using defaults.

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http://hdl.handle.net/10453/135052