Replication data for: Mental Accounting in Portfolio Choice: Evidence from a Flypaper Effect
Principal Investigator(s): View help for Principal Investigator(s) James J. Choi; David Laibson; Brigitte C. Madrian
Version: View help for Version V1
| Name | File Type | Size | Last Modified |
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| flypaper-code | 10/12/2019 10:07:AM | ||
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text/plain | 14.6 KB | 10/12/2019 06:07:AM |
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application/pdf | 10.9 KB | 10/12/2019 06:07:AM |
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text/plain | 4.8 KB | 10/12/2019 06:07:AM |
Project Citation:
Choi, James J., Laibson, David, and Madrian, Brigitte C. Replication data for: Mental Accounting in Portfolio Choice: Evidence from a Flypaper Effect. Nashville, TN: American Economic Association [publisher], 2009. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2019-10-12. https://doi.org/10.3886/E113344V1
Project Description
Summary:
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Consistent with mental accounting, we document that investors sometimes choose the asset allocation for one account without considering the asset allocation of their other accounts. The setting is a firm that changed its 401(k) matching rules. Initially, 401(k) enrollees chose the allocation of their own contributions, but the firm chose the match allocation. These enrollees ignored the match allocation when choosing their own-contribution allocation. In the second regime, enrollees selected both accounts' allocations, leading them to integrate the two. Own-contribution allocations before the rule change equal the combined own- and match-contribution allocations afterward, whereas combined allocations differ sharply across regimes. (JEL G11, J32)
Scope of Project
JEL Classification:
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G11 Portfolio Choice; Investment Decisions
J32 Nonwage Labor Costs and Benefits; Retirement Plans; Private Pensions
G11 Portfolio Choice; Investment Decisions
J32 Nonwage Labor Costs and Benefits; Retirement Plans; Private Pensions
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