Podcast appearances and mentions of David Laibson

Daron Acemoglu is an esteemed economist and author, currently serving as the Killian Professor of Economics at the Massachusetts Institute of Technology. His main areas of research include political economy, economic development and growth, network economics, human capital and technological innovation. Much of his work studies the political, economic and social origins of the differences in economic development across societies. He has also explored the institutional and political evolution of nations and the role that technology plays in shaping economic growth. Acemoglu's track-record of addressing conventional economic principles in a highly original and astute fashion makes him one of the best regarded thought leaders in the field. Acemoglu is probably best known for his book - Why Nations Fail: The Origins of Power, Prosperity, and Poverty (co-authored with James Robinson), which made the New York Times Bestseller List in 2012. His other books include: Economic Origins of Dictatorship and Democracy (also with James Robinson), which was awarded the Woodrow Wilson and the William Riker prizes, Introduction to Modern Economic Growth and Principles of Economics (co-authored with David Laibson and John List) and The Narrow Corridor: States, Societies, and the Fate of Liberty (with James Robinson).

Our guest this week is James Choi. Dr. Choi is a professor of finance at the Yale School of Management, where he teaches and conducts research on behavioral finance and economics, household finance, and sociology, among other topics. He is a two-time recipient of the TIAA Paul A. Samuelson Award for outstanding scholarly writing on lifelong financial security, and his work on automatic enrollment into retirement plans has had a major influence on retirement plan policy and design. Dr. Choi is a co-director of the Retirement and Disability Research Center at the National Bureau of Economic Research and an associate editor of the Journal of Finance, among other professional and scholarly affiliations. He received both his bachelor's degree and doctorate from Harvard University.BackgroundBioRetirement and Disability Research CenterAcademics vs. Bestsellers“Popular Personal Financial Advice Versus the Professors,” by James Choi, nber.com, October 2022.Choice Architecture and Retirement Plan Design“Nudge: Improving Decisions About Health, Wealth, and Happiness,” by Richard Thaler and Cass Sunstein, researchgate.net, June 2009.“Contributions to Defined Contribution Pension Plans,” by James Choi, nber.org, August 2015.“Small Cues Change Savings Choices,” by James Choi, Emily Haisley, Jennifer Kurkoski, Cade Massey, Journal of Economic Behavior & Organization, August 2017.“Plan Design and 401(k) Savings Outcomes,” by James Choi, David Laibson, and Brigitte Madrian, National Tax Journal, June 2004.“Saving for Retirement on the Path of Least Resistance,” by James Choi, David Laibson, Brigitte Madrian, and Andrew Metrick, scholar.harvard.edu., Dec. 1, 2005.“Which Early Withdrawal Penalty Attracts the Most Deposits to a Commitment Savings Account?” by James Choi, John Beshears, Christopher Harris, David Laibson, Brigitte Madrian, and Jung Sakong, Journal of Public Economics, Feb. 8, 2020.“Present Bias Causes and Then Dissipates Auto-Enrollment Savings Effects,” by John Beshears, James Choi, David Laibson, and Peter Maxted, hbs.edu, 2022.Retirement Readiness and Policy Response“Borrowing to Save? The Impact of Automatic Enrollment on Debt,” by John Beshears, James Choi, David Laibson, Brigitte Madrian, and William Skimmyhorn, nber.org, July 2019.“The Effect of Providing Peer Information on Retirement Savings Decisions,” by James Choi, John Beshears, David Laibson, Brigitte Madrian, and Katherine Milkman, The Journal of Finance, June 2015.Emergency Savings“Building Emergency Savings Through Employer-Sponsored Rainy-Day Savings Accounts,” by John Beshears, James Choi, J. Mark Iwry, David John, David Laibson, and Brigitte Madrian, journals.uchicago.edu, 2020.Saving, Spending, Investor Behavior“Economists Confirm It's Actually OK to not Save Money in Your 20s,” by Sarah Hansen, money.com, Sept. 2, 2022.“Why Does the Law of One Price Fail? An Experiment on Index Mutual Funds,” by James Choi, Xavier Gabaix, David Laibson, and Brigitte Madrian, nber.org, December 2005.“Does Aggregated Returns Disclosure Increase Portfolio Risk Taking?” by James Choi, James Beshears, David Laibson, and Brigitte Madrian, National Library of Medicine, Oct. 19, 2016.Other“Brigitte Madrian: ‘Inertia Can Actually Be a Helpful Thing,'” The Long View podcast, Morningstar.com, April 22, 2020.Morningstar Investment Conference 2023

Our guest on the podcast today is David John. David is a senior strategic policy advisor at the AARP Public Policy Institute, where he works on pension and retirement savings issues. He also serves as deputy director of the Retirement Security Project at the Brookings Institution. RSP focuses on improving retirement savings in the United States, especially among moderate and low-income workers. Before joining AARP, David was a senior research fellow at the Heritage Foundation. He also has extensive public policy experience working for a money center bank, a law firm, a credit union trade association, and four members of the House of Representatives. David has written and spoken extensively about the importance of reforming the nation's retirement programs. He is co-author with J. Mark Iwry of the Automatic IRA, a small business retirement savings program for firms that do not sponsor any other form of retirement savings or pension plan. In addition, David is one of four co-editors of the 2009 book Automatic: Changing the Way America Saves. David holds an ABJ in journalism, an M.A. in economics, and an MBA in finance—all from the University of Georgia.BackgroundBioAutomatic: Changing the Way America Saves, by William G. Gale, J. Mark Iwry, David C. John, and Lina WalkerRetirement Landscape“How to Make Retirement Saving Easier for Millions of Americans,” by Renu Zaretsky, taxpolicycenter.org, Oct. 6, 2021.“Small Retirement Accounts: Issues and Options,” by David C. John, J. Mark Iwry, Christopher Pulliam, and William G. Gale, brookings.edu.com, September 2021.“Cashing Out: The Systemic Impact of Withdrawing Savings Before Retirement,” Savings Preservation Working Group, tsretirement.com, Oct. 29, 2019.“How Auto IRAs Could Soon Improve Retirement for Millions of Americans,” by David C. John and J. Mark Iwry, brookings.edu.com, Oct. 20, 2021. “The Current State of U.S. Workplace Retirement Plan Coverage,” by John Sabelhaus, repository.upenn.edu, March 2022.“How Can the Retirement System Help More People Afford Retirement?” by William G. Gale, David C. John, and J. Mark Iwry, brookings.edu, Aug. 3, 2021.“Nontraditional Workers Face Multiple Barriers to Saving for Retirement,” by Alison Shelton and John Scott, pewtrusts.org, Nov. 9, 2021.“How to Take Portfolio Withdrawals in a Market Downturn,” by Adam Shell, aarp.org, March 25, 2022.“State Auto-IRAs Continue to Complement Private Market for Retirement Plans,” by Theron Guzoto, Mark Hines, and Alison Shelton, pewtrusts.org, July 25, 2022.“The Automatic IRA at 15: Helping Americans Build Retirement Security,” by J. Mark Iwry and David C. John, brookings.edu, Feb. 12, 2021.Emergency Savings “Brigitte Madrian: ‘Inertia Can Actually Be a Helpful Thing,'” The Long View podcast, Morningstar.com, April 22, 2020.“Building Emergency Savings Through Employer-Sponsored Rainy-Day Savings Accounts,” by John Beshears, James J. Choi, Mark Iwry, David C. John, David Laibson, and Brigitte C. Madrian, hbs.edu, 2020.“Saving at Work for a Rainy Day: Results From a National Survey of Employees,” aarp.org, Dec. 4, 2018.Retirement Decumulation“When Income Is the Outcome: Reducing Regulatory Obstacles to Annuities in 401(k) Plans,” by J. Mark Iwry, William Gale, David John, and Victoria Johnson, brookings.edu, July 2019.“The SECURE Act: A Good Start but Far More Is Needed,” by J. Mark Iwry, David C. John, and William G. Gale, brookings.edu, Jan. 8, 2020.

Why Nations Fail is one of the best books I have read all year. Authors Acemoglu and Robinson insist that "development differences across countries are exclusively due to differences in political and economic institutions, and reject other theories that attribute some of the differences to culture, weather, geography or lack of knowledge about the best policies and practices. For example, "Soviet Russia generated rapid growth as it caught up rapidly with some of the advanced technologies in the world [but] was running out of steam by the 1970s" because of a lack of creative destruction. Daron Acemoglu is the Institute Professor in the Department of Economics at the Massachusetts Institute of Technology. He has received a BA in economics at the University of York, 1989, M.Sc. in mathematical economics and econometrics at the London School of Economics, 1990, and Ph.D. in economics at the London School of Economics in 1992. He was the recipient of the John Bates Clark Medal in 2005, awarded every two years to the best economist in the United States under the age of 40 by the American Economic Association, and the Erwin Plein Nemmers prize awarded every two years for work of lasting significance in economics. Professor Acemoglu’s areas of research include political economy, economic development and growth, human capital theory, growth theory, innovation, search theory, network economics and learning. His recent research focuses on the political, economic and social causes of differences in economic development across societies; the factors affecting the institutional and political evolution of nations; and how technology impacts growth and distribution of resources and is itself determined by economic and social incentives. In addition to scholarly articles, Daron Acemoglu has published four books: Economic Origins of Dictatorship and Democracy (joint with James A. Robinson), which was awarded the Woodrow Wilson and the William Riker prizes, Introduction to Modern Economic Growth, Why Nations Fail: The Origins of Power, Prosperity, and Poverty (joint with James A. Robinson), which was a New York Times bestseller in 2012; and Principles of Economics (joint with David Laibson and John List). HELP ME CROWDFUND MY GAMESTOP BOOK. Go to https://wen-moon.com to join the crowdfunding campaign and pre-order To The Moon: The GameStop Saga! If you haven’t already and you enjoyed this episode, please subscribe to this podcast and our mailing list, and don’t forget, my book, Brexit: The Establishment Civil War, is now out, you’ll find the links in the description below. Dash - https://www.dash.org Watch Us On Odysee.com - https://odysee.com/$/invite/@TheJist:4 Sign up and watch videos to earn crypto-currency! Buy Brexit: The Establishment Civil War - https://amzn.to/39XXVjq Mailing List - https://www.getrevue.co/profile/thejist Twitter - https://twitter.com/Give_Me_TheJist Website - https://thejist.co.uk/ Music from Just Jim –

Find out what David's passions are, his thoughts on what is (and what is your) "unlearning" as we think about cognitive biases that negatively affect Owner- Manager good decision making. We also discuss why, as a senior professor, he lives in an undergraduate residence hall, and what his professional life may look like ten years from now.

David Laibson describes how behavioral economics can help incentivize positive behaviors.

Would you like advice on your retirement savings from the Chair of the Economics Department at Harvard? In this episode, Dr. David Laibson tells how to build your financial resources, the principles he uses to help manage Harvard's employee pension fund, and how we as a society can make it easier for everyone to build a nest egg.

Bernardo Nunes, PhD believes that applying behavioral sciences to startups is the fastest way to get entrepreneurs up and running in a fast-changing world. At Growth Academy in Amsterdam, the students work in small teams over three months to build a company with the help of sophisticated machine learning tools as well as knowledgeable coaches and teachers.  In our conversation with Bernardo, we spoke at length about the ethics and regulations surrounding data privacy, how an article in The New York Times featuring David Laibson, PhD got Bernardo started down this path and how Frank Zappa's 3-song "Hot Rats" album would be his go-to for desert island listening. We had an important discussion about the interplay between policy and marketing and how they influence each other.  There is some background noise occasionally but we don't think it inhibits the quality of the interview. We hope you enjoy it. Music: Theme song "Everywhere You Go" by Tim Houlihan and transitional music "Transfiguration" by Jon James. Used by permission. 

In this episode, we'll explore what's called 'present bias.' It is the tendency to make choices that are biased toward whatever is easiest to do right now. We'll discuss how you can help your clients overcome this very human inclination to put off the hard decisions. Personal finance expert Farnoosh Torabi interviews one of the intellectual godfathers of behavioral economics, Professor David Laibson. He chairs the economics department at Harvard University and he leads the university's Foundations of Human Behavior initiative. Human-centric investing landing page: https://www.hartfordfunds.com/human-centric-investing.html Transcript: https://www.hartfordfunds.com/dam/en/docs/pub/Podcast/MAI116.pdf Hartford Funds has engaged Farnoosh Torabi to conduct this interview. Farnoosh Torabi is not an employee of Hartford Funds. David Laibson is the chair of the Harvard University Economic Department, which is not affiliated with Hartford Funds.

In this episode, we’ll explore what's called 'present bias.' It is the tendency to make choices that are biased toward whatever is easiest to do right now. We'll discuss how you can help your clients overcome this very human inclination to put off the hard decisions. Personal finance expert Farnoosh Torabi interviews one of the intellectual godfathers of behavioral economics, Professor David Laibson. He chairs the economics department at Harvard University and he leads the university's Foundations of Human Behavior initiative. Human-centric investing landing page: https://www.hartfordfunds.com/human-centric-investing.html Transcript: https://www.hartfordfunds.com/dam/en/docs/pub/Podcast/MAI116.pdf Hartford Funds has engaged Farnoosh Torabi to conduct this interview. Farnoosh Torabi is not an employee of Hartford Funds. David Laibson is the chair of the Harvard University Economic Department, which is not affiliated with Hartford Funds.

In this episode, we'll explore what's called 'present bias.' It is the tendency to make choices that are biased toward whatever is easiest to do right now. We'll discuss how you can help your clients overcome this very human inclination to put off the hard decisions. Personal finance expert Farnoosh Torabi interviews one of the intellectual godfathers of behavioral economics, Professor David Laibson. He chairs the economics department at Harvard University and he leads the university's Foundations of Human Behavior initiative. Human-centric investing landing page: https://www.hartfordfunds.com/human-centric-investing.html Transcript: https://www.hartfordfunds.com/dam/en/docs/pub/Podcast/MAI116.pdf Hartford Funds has engaged Farnoosh Torabi to conduct this interview. Farnoosh Torabi is not an employee of Hartford Funds. David Laibson is the chair of the Harvard University Economic Department, which is not affiliated with Hartford Funds.

In this episode, we’ll explore what's called 'present bias.' It is the tendency to make choices that are biased toward whatever is easiest to do right now. We'll discuss how you can help your clients overcome this very human inclination to put off the hard decisions. Personal finance expert Farnoosh Torabi interviews one of the intellectual godfathers of behavioral economics, Professor David Laibson. He chairs the economics department at Harvard University and he leads the university's Foundations of Human Behavior initiative. Human-centric investing landing page: https://www.hartfordfunds.com/human-centric-investing.html Transcript: https://www.hartfordfunds.com/dam/en/docs/pub/Podcast/MAI116.pdf Hartford Funds has engaged Farnoosh Torabi to conduct this interview. Farnoosh Torabi is not an employee of Hartford Funds. David Laibson is the chair of the Harvard University Economic Department, which is not affiliated with Hartford Funds.

Personal finance expert Farnoosh Torabi and Professor David Laibson of the Harvard University Economics Department talk about how financial advisers can use the science of choice architecture to structure the way their clients make choices, helping them arrive at better outcomes. Human-centric investing landing page: https://www.hartfordfunds.com/human-centric-investing.html Transcript: https://www.hartfordfunds.com/dam/en/docs/pub/Podcast/MAI115.pdf Hartford Funds has engaged Farnoosh Torabi to conduct this interview. Farnoosh Torabi is not an employee of Hartford Funds. David Laibson is the chair of the Harvard University Economic Department, which is not affiliated with Hartford Funds.

Personal finance expert Farnoosh Torabi and Professor David Laibson of the Harvard University Economics Department talk about how financial advisers can use the science of choice architecture to structure the way their clients make choices, helping them arrive at better outcomes. Human-centric investing landing page: https://www.hartfordfunds.com/human-centric-investing.html Transcript: https://www.hartfordfunds.com/dam/en/docs/pub/Podcast/MAI115.pdf Hartford Funds has engaged Farnoosh Torabi to conduct this interview. Farnoosh Torabi is not an employee of Hartford Funds. David Laibson is the chair of the Harvard University Economic Department, which is not affiliated with Hartford Funds.

Personal finance expert Farnoosh Torabi and Professor David Laibson of the Harvard University Economics Department talk about how financial professionals can use the science of choice architecture to structure the way their clients make choices, helping them arrive at better outcomes. Human-centric investing landing page: https://www.hartfordfunds.com/human-centric-investing.html Transcript: https://www.hartfordfunds.com/dam/en/docs/pub/Podcast/MAI115.pdf Hartford Funds has engaged Farnoosh Torabi to conduct this interview. Farnoosh Torabi is not an employee of Hartford Funds. David Laibson is the chair of the Harvard University Economic Department, which is not affiliated with Hartford Funds.

Personal finance expert Farnoosh Torabi and Professor David Laibson of the Harvard University Economics Department talk about how financial advisers can use the science of choice architecture to structure the way their clients make choices, helping them arrive at better outcomes. Human-centric investing landing page: https://www.hartfordfunds.com/human-centric-investing.html Transcript: https://www.hartfordfunds.com/dam/en/docs/pub/Podcast/MAI115.pdf Hartford Funds has engaged Farnoosh Torabi to conduct this interview. Farnoosh Torabi is not an employee of Hartford Funds. David Laibson is the chair of the Harvard University Economic Department, which is not affiliated with Hartford Funds.

Stephen J. Dubner hosts an episode full of the world's most renowned behavior change experts, including Colin Camerer, Ayelet Fishbach, David Laibson, Max Bazerman, Katy Milkman, and Kevin Volpp. Angela Duckworth (psychologist and author of Grit) is our special guest co-host, with Mike Maughan (head of global insights at Qualtrics) as real-time fact-checker.

Spätestens seit Aristoteles gehören Fragen des Charakters und der Moral zu den Grundlagen der Ethik. Die Psychologie, und hier vor allem die Entwicklungspsychologie, interessiert sich für die emotionale, moralische und soziale Entwicklung bei Kindern und untersucht die Entstehung von Altruismus, Empathie und prosozialem Verhalten. Und auch in der Volkswirtschaftslehre spielt die Motivation von Entscheidungen traditionell eine große Rolle, deren Durchdringung es erlaubt, das Menschenbild hinter ökonomischen Modellen besser zu verstehen. Für die Rechtswissenschaft sind moralphilosophische Fragen insofern von Bedeutung, als sie die Grundlage für die Bindungs- und Geltungskraft von Gesetzen bilden. In diesem Schwerpunkt adressieren neben der Philosophie Wissenschaftler aus so unterschiedlichen Disziplinen wie der Psychologie, Ökonomie, Politikwissenschaft und der Rechtswissenschaft moralphilosophische Fragen. | David Laibson ist Robert I. Goldman Professor of Economics an der Harvard University.

Spätestens seit Aristoteles gehören Fragen des Charakters und der Moral zu den Grundlagen der Ethik. Die Psychologie, und hier vor allem die Entwicklungspsychologie, interessiert sich für die emotionale, moralische und soziale Entwicklung bei Kindern und untersucht die Entstehung von Altruismus, Empathie und prosozialem Verhalten. Und auch in der Volkswirtschaftslehre spielt die Motivation von Entscheidungen traditionell eine große Rolle, deren Durchdringung es erlaubt, das Menschenbild hinter ökonomischen Modellen besser zu verstehen. Für die Rechtswissenschaft sind moralphilosophische Fragen insofern von Bedeutung, als sie die Grundlage für die Bindungs- und Geltungskraft von Gesetzen bilden. In diesem Schwerpunkt adressieren neben der Philosophie Wissenschaftler aus so unterschiedlichen Disziplinen wie der Psychologie, Ökonomie, Politikwissenschaft und der Rechtswissenschaft moralphilosophische Fragen. | David Laibson ist Robert I. Goldman Professor of Economics an der Harvard University.

David Laibson describes how behavioral economics can help incentivize positive behaviors.

David Laibson's Fathauer Lecture in Political Economy was presented on December 7, 2009. David Laibson is a Harvard College Professor and the Robert I. Goldman Professor of Economics at Harvard University. Laibson is also a member of the National Bureau of Economic Research, where he is Research Associate in the Asset Pricing, Economic Fluctuations, and Aging Working Groups. Laibson serves on numerous editorial boards, as well as the boards of the Health and Retirement Survey and the Pension Research Council. He is a recipient of a Marshall Scholarship and grants from the National Science Foundation, the MacArthur Foundation, the National Institute on Aging, the Sloan Foundation, the Social Security Administration, and the Financial Industry Regulatory Authority (FINRA). Laibson co-organizes the Russell Sage Foundation’s Summer School in Behavioral Economics. He has received the PBK Prize for Excellence in Teaching. Laibson’s research focuses on the topic of psychology and economics and his work is frequently discussed in The New York Times, The Wall Street Journal, The Financial Times, the Economist, Business Week, Forbes, Fortune, Money, Wired Magazine, the New Yorker, and on the PBS program Wealthtrack. In 2005, Fortune named Laibson one of ten people to watch. In 2008, Wired Magazine included Laibson on the “2008 Smart List: 15 People the Next President Should Listen To.” In 2006 Laibson served as an external reviewer for the Department of Labor regulations that implement the Pension Protection Act. Laibson holds degrees from Harvard University (BA in Economics, summa cum laude), the London School of Economic (MSc in Econometrics and Mathematical Economics), and the Massachusetts Institute of Technology (Ph.D. in Economics).

With their combination of low fees tax efficiency and simple autopilot investing style index funds seem to have captivated American investors. At the same time however many investors still hold trillions of dollars in high-fee funds despite well-publicized evidence that low-fee alternatives offer higher returns over the long run. ”It struck us that most people just don't know what mutual fund fees are. So we set out to actually test that ” says Brigitte C. Madrian professor of business and public policy at Wharton. The result is a paper titled ”Why Does the Law of One Price Fail? An Experiment on Index Mutual Funds ” by Madrian Yale professor James J. Choi and Harvard economics professor David Laibson. See acast.com/privacy for privacy and opt-out information.