Tax-Preferred Savings Vehicles: Can Financial Education Improve Asset Location Decisions?
通过陈述选择实验，研究随机金融教育干预如何影响人们对前端或后端税收优惠退休账户的贡献决策，发现干预提高了知识并增加了税后收入，平均福利提升约4%。
Abstract In this study, we conduct a stated-choice experiment to analyze the decision to contribute to either a front- or back-loaded tax-preferred retirement savings account. Our experimental design includes a randomized financial education intervention that provides information on the tax implications of both types of account. Respondents who were exposed to the intervention have greater knowledge of these accounts and make contribution choices that increase their after-tax income. Using a well-defined benchmark, we show that on average, respondents who experienced the intervention increase their discounted welfare by about 4% of their contribution amount.