A company invites their employees to sign up for a plan where every time they get a raise, … - Richard Thaler

Same topic Authors

Quote of the day

I'll never violate my oath to the Honorable Elijah Muhammad to work night and day for the rise of my people. I've been at this for darn near 60 years; I'm too old now to do something different.

Richard Thaler

A company invites their employees to sign up for a plan where every time they get a raise, some part of that raise goes to increasing their contribution rate to the 401k plan. In the first company we convinced to adopt this plan, saving rates tripled.

401K, Employee, Firsts, Increasing, Saving

Same Author Quotes

When an economist says the evidence is "mixed," he or she means that theory says one thing and data says the opposite.

Data, Evidence, Mean, Mixed, Opposites, Theory

My mantra is if you want to help people accomplish some goal, make it easy.

Goal, Make, People, Want

So, what's a nudge? A nudge is some small feature of the environment that attracts our attention and alters our behavior.

Alters, Attention, Behavior, Environment, Nudge, Small

The lesson from behavioral economics is that people only save if it's automatic.

Automatic, Behavioral, Economics, Lessons, People

There's no reason to think that markets always drive people to what's good for them.

Markets, People, Reason, Think, Thinking