Overconfidence, Underconfidence, and the Use of Persuasive Messages in the Attainment of Savings Goals

Konferenzbeitrag

The presentation analyzes whether the success of persuasive messages depends on an individual's behavioral bias: If at the onset of a savings period saving goals are chosen with over- or underconfidence, i.e. individuals over- or underestimate their savings potential, individuals might save too little and even stop saving altogether. Thus, given an individual's characteristics different dis- or encouraging messages might help to achieve the savings goals. The messages encourage some individuals to reconsider their self-set goal and to choose either a more ambitious or a more cautious goal. In our experiment we randomly assign moneyboxes in combination with these persuasive messages to 940 current and former clients of a microfinance institution in rural Ethiopia. Two baseline surveys and a recently collected follow-up data allow for an in-depth analysis of the mechanisms and the steps involved in the persuasive process that is likely to lead to different saving performances.

Angaben zum Objekt

• Sprache: Englisch

Verweise und Beziehungen

• Erschienen in: Series: Beiträge zur Jahrestagung des Vereins für Socialpolitik 2015: Ökonomische Entwicklung - Theorie und Politik - Session: Evaluating Microcredit and Microsavings Interventions using Randomized Controlled Trials ; No. D06-V1

Klassifikation und Themen

• Klassifikation: Wirtschaft ; Consumer Economics: Empirical Analysis ; Micro-Based Behavioral Economics: Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making‡ ; Microeconomic Analyses of Economic Development

Beteiligte, Orts- und Zeitangaben

• Ereignis: Geistige Schöpfung
• (wer): Avdeenko, Alexandra ; Bohne, Albrecht ; Frölich, Markus ; Kemper, Niels
• Ereignis: Veröffentlichung
• (wann): 2015

Weitere Informationen

• Handle: http://hdl.handle.net/10419/112982
• Letzte Aktualisierung: 10.03.2025, 11:41 MEZ