Choice Architecture to Improve Financial Decision Making
研究通过三种卡片菜单呈现方式（市场现状、监管改革、增强改革）测试选择架构对消费者选择可充值预付卡的影响，发现增强改革能显著减少最差选择，带来更大福利收益。
We exploit the principles of choice architecture to evaluate interventions in the market for reloadable prepaid cards. Participants are randomized into three card menu presentation treatments—the market status quo, a regulation-inspired reform, or an enhanced reform designed to minimize attribute overload—and offered choices based on prior structural estimation of individual preferences. Consumers routinely choose incorrectly under the status quo, with tentative evidence that the regulation-inspired presentation may increase best card choice and clear evidence that the enhanced reform reduces worst card choice. Welfare analysis suggests the regulation-inspired presentation offers modest gains, while the enhanced policy generates substantial benefits.