Using Interactive "Nutrition" Labels for Financial Products to Assist Decision Making for Long-term Saving
- BenefitsLink January 10th, 2017
- Source: http://benefitslink.com/newsletters/2017/2017_01_10_retirement.html
"[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."