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Field Before After
Last Published July 11, 2019 10:33 AM May 13, 2020 01:45 PM
Study Withdrawn No
Intervention Completion Date August 10, 2018
Data Collection Complete Yes
Final Sample Size: Number of Clusters (Unit of Randomization) 17 960 individuals in treatment groups, 4 791 in control
Was attrition correlated with treatment status? No
Final Sample Size: Total Number of Observations 17 937 individuals in treatment groups, 4 791 in the control group
Final Sample Size (or Number of Clusters) by Treatment Arms For the treatment arms we have the following number of individuals. - Basic1: 1 988, where 199 were sent the reading task - Basic2: 1 992, - A: 3 986, where 199 were sent the reading task - C: 3 991 - B0: 3 974 - BL,BM,BH: 2 006 (669, 669, 668 for each reward level, respectively)
Is there a restricted access data set available on request? No
Program Files No
Data Collection Completion Date February 10, 2019
Is data available for public use? No
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Papers

Field Before After
Paper Abstract In this paper we empirically investigate potential causes of imperfect competition in the fund market, as characterized by high price dispersion among comparable funds. We discriminate between three main hypotheses on the demand side: a lack of awareness of price dispersion, search costs, and financial illiteracy. A large-scale field experiment is conducted in the Swedish Premium Pension system. Information letters are sent to pension savers in two index funds, where there exists a cheaper fund with the same index strategy. We show that an information intervention that increases the awareness of a cheaper, dominating fund, and reduces the search costs for finding such an alternative, can significantly improve households’ real investment allocations. Nonetheless, a majority of savers who are sent information about the name of the dominating fund do not switch funds. Thus, the high degree of inertia in pension investments remains even when search frictions for identifying dominating alternatives are eliminated.
Paper URL https://www.dropbox.com/s/kwuu8i4tmxz4jhd/Kinnerud_Lorentzon.pdf?dl=0
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