Firms That Automatically Enroll Their Employees in Retirement Plans, Giving

question 10

Multiple Choice

Firms that automatically enroll their employees in retirement plans, giving them the option to opt-out instead of to opt-in, is an example of a form of behavioral economics known as

• A)the endowment effect.
• B)network externality.
• C)nudges.
• D)anchoring.

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Definitions:

Experimental Group

In research, the group of subjects that receives the treatment or intervention being tested, as opposed to the control group.

Confidence Level

A statistical measure that quantifies the uncertainty or certainty in a sampling method.

Margin of Error

A measure of the accuracy of a public opinion poll, reflecting the maximum expected difference between the poll's results and the actual opinion of the total population.

Experimental Result

The outcome or data obtained from conducting a scientific experiment.