Is it worth noting that one cannot simply “opt out” of Thaler and Sunstein’s endorsed retirement programs (see endnote 15, chapter 6 of Nudge)? If employers wish not to participate in auto-enrollment, then they are exposed to costly legal liability and must expend costly effort filling out forms to attenuate this liability. If employees wish not to participate in retirement plans like a 401k, they are exposed to a tax penalty. So, even as the authors might prefer to see things, this intervention does indeed reduce the decision space of market actors.
- About Me Hi, my name is Wallace Forman and this is my blog. I graduated from Harvard College in 2008 with a concentration in the Classics and secondary field in Economics. I currently work in Washington DC. My blog-interests include politics, law, economics, my life, and politics. I will be starting law school this fall at the University of Virginia.
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