In the News

Title

Nobel Prize winner Richard Thaler may have added $29.6 billion to retirement accounts

Document Type

Article

Publication Date

10-10-2017

Abstract

Richard Thaler, the recent recipient of the Nobel Prize in economics, has helped retirement savers substantially in the past decade — to the tune of about $29.6 billion, perhaps, according to fellow researcher Shlomo Benartzi.

Though it is hard to calculate an exact estimate on how much has been saved in retirement specifically because of Thaler’s work, which focuses on behavioral economics and how to get people to stash away more money for their futures, clearly the implementation of Thaler’s theories of auto-enrollment and auto-escalation in workplace savings accounts into practice has helped.