This paper investigates the degree to which the timing of payments affects behavior in four commonly studied strategic settings: a Prisoners' Dilemma, a Stag-Hunt Game, a First Price Auction, and a Second Price Auction.
A bewildering array of curricula and materials is available to support K–12 financial education. This reviewing tool helps educators assess which to use, and to better understand the strengths and gaps in the curriculum currently in use.
Low interest rates mandated by the Federal Reserve may have had and possibly continue to have adverse effects on income inequality. Those who argue for continuing near-zero short-term interest rate policy should be cognizant of this.
Financial service providers often have better information about their wares than consumers. Disclosure is a policy tool designed to address this by giving consumers valuable information. But it may not provide enough support in helping them make more informed decisions.
Financial advisers can play an important role with helping individuals make better financial decisions and improving their financial situations. But does working with a financial adviser improve savings behavior, particularly saving for retirement?
This review compares financial advice markets in a cross-section of countries where regulatory changes aimed at improving the quality of financial advice have recently been made, to determine how such changes have affected them.
In this Events @ RAND podcast, Economist Annamaria Lusardi discusses financial literacy, or the ability to use knowledge and skills to manage financial resources effectively. The podcast also explores workplace programs and policy changes that could help individuals learn about managing their personal finances.
This paper examines the potential effects of the U.S. Department of Labor, Employee Benefits Security Administration's proposed rule 29 CFR Part 2510, Definition of the Term "Fiduciary" on people with Individual Retirement Accounts.
Undermining the financing of terrorist groups must be done as part of a broader effort to undermine terrorist ideology. Policies should focus on the most significant threats to the United States and utilize tools that target the ways these groups finance themselves.
Conditional cash transfer programs (CCTs) are seen as particularly effective in low- and middle-income countries, but relatively little is known about the interface between the supply of services and program administration and specific human development outcomes. RAND Europe assessed the effectiveness of CCTs through a two-year grant from UK Economic Social Research Council and Department for International Development.
Policymakers in Western countries seeking new policy levers to tackle costly lifestyle behaviors in the age of austerity may do well to take up programs based on cash incentives. Recent analysis of conditional payment programs in Latin America highlights some useful lessons.
In 1997, Mexico transformed its pay-as-you-go social security system to a fully funded system with personal retirement accounts, including management fees. This article examines changes in retirement wealth resulting from this new system.