案例库 · 财务与会计 · 财务决策 · 2004
这条还没译成中文，下面是英文原文。
Save More Tomorrow tied savings to future raises, not to today.
Thaler and Benartzi's SMarT plan commits employees to save a share of each future raise; saving rates rose from 3.5% to 13.6%.
University of Chicago · UCLA Anderson School of Management
那一手
In defined-contribution plans, employees decide how much to save, and many save too little because of self-control and a bias toward today. Thaler and Benartzi wanted a prescriptive program rather than another warning.
Their answer was Save More Tomorrow. At enrollment a worker agrees that their contribution rate will rise with each future salary increase, by a fixed amount, until it reaches a ceiling. Nothing changes today, so joining is painless, and the increases are automatic, so staying requires no effort.
The first implementations were striking: in the flagship program 78% of those offered joined, 80% stayed through four raises, and average saving rates climbed from 3.5% to 13.6% over 40 months. The mechanism turned a difficult present decision into a nearly effortless future one.
为什么管用
- Present bias makes current-income saving painful
- Taken from a raise, the increase never feels like a cut in take-home pay
- Automatic escalation removes the need for repeated willpower
- Inertia then keeps the saver enrolled through multiple raises
可以搬走什么
To beat present bias, take the sacrifice from future money and let inertia work: a commitment device outperforms a one-time exhortation.
后来呢
Save More Tomorrow became the blueprint for automatic escalation in retirement plans, and its logic informed the Pension Protection Act of 2006, which encouraged auto-enrollment and automatic contribution increases. Such defaults are now standard in US defined-contribution plans.
资料来源
- Save More Tomorrow: Using Behavioral Economics to Increase Employee Saving
- Save More Tomorrow: Using Behavioral Economics to Increase Employee Saving (Thaler & Benartzi 2004)
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