Using Interactive "Nutrition" Labels for Financial Products to Assist Decision Making for Long-term Saving

"[The authors] developed an interactive information label to assist consumers with retirement saving decision-making.... 450 users [were exposed] to one of four user interface conditions in a retirement saving simulator where they made 35 yearly decisions under changing circumstances. [The authors] found significantly better ability of users to reach their goals with the information label. Furthermore, users who interacted with the label made better decisions than those who were presented with a static information label. Lastly, [they] found the label particularly effective in helping novice savers." 

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