David Laibson

10. Chabris, Christopher F., Benjamin M. Hebert, Daniel J. Benjamin, Jonathan Beauchamp, David Cesarini, Matthijs J.H.M. van der Loos, Magnus Johannesson, Patrik K.E. Magnusson, Paul Lichtenstein, Craig S. Atwood, Jeremy Freese, Taissa S. Hauser, Robert M. Hauser, Nicholas A. Christakis, David Laibson (November 2012), “Most Reported Genetic Associations with General Intelligence Are Probably False Positives” Psychological Science 23: 1324-1336.

11. Bennett, David A., Patricia A. Boyle, Aron S. Buchman, David I. Laibson, and Lei Yu. 2011. "Cognitive Function is Associated with Risk Aversion in Community-Based Older Persons." BMC Geriatrics 11:53. 

12. Milkman, Katherine L., John Beshears, James J. Choi, David Laibson, Brigitte C. Madrian. 2011.“Using Implementation Intentions Prompts to Enhance Influenza Vaccination Rates.” Proceedings of the National Academy of Sciences 108(26): 10415-10420.

13. Fuster, Andreas, Benjamin Hebert, and David Laibson. 2011. “Natural Expectations, Macroeconomic Dynamics, and Asset Pricing.” NBER Macroeconomics Annual 26: 1-48.

14. Chauvin, Kyle, David Laibson, and Johanna Mollerstrom. 2011. "Asset Bubbles and the Cost of Economic Fluctuations." Journal of Money, Credit, and Banking 43:233-260.

15. Beshears, John, James Choi, David Laibson, and Brigitte Madrian. 2011. "Behavioral Economics Perspectives on Public Sector Pension Plans."Journal of Pension Economics and Finance 10(2):315-336.

16. Albrecht, Konstanze, Kirsten G. Volz, Matthias Sutter, David I. Laibson, and D. Yves von Cramon. 2010. "What is for me is not for you: brain correlates of intertemporal choice for self and other." Social Cognitive and Affective Neuroscience 6(2):207-217.

17. Fuster, Andreas, David Laibson, and Brock Mendel. 2010. "Natural Expectations and Macroeconomics Fluctuations" Journal of Economic Perspectives 24(4):67-84. Appendix

18. Choi, James, David Laibson, Brigitte Madrian. 2011. "$100 Bills on the Sidewalk: Suboptimal Investment in 401(k) Plans." Review of Economics and Statistics93(3):748-763.

19. Choi, James, David Laibson, Brigitte Madrian. 2010. "Why Does the Law of One Price Fail? An Experiment on Index Mutual Funds." Review of Financial Studies23(4): 1405-1432. 
Older draft (without Harvard staff sample) summarized in  July 2006 NBER Digest. 
Supplement: Prospectuses used in experiments.

20. Laibson, David and Johanna Mollerstrom. 2010. "Capital Flows, Consumption Booms and Asset Bubbles: A Behavioural Alternative to the Savings Glut Hypothesis."The Economic Journal 120(544): 354-374.

21. Beshears, John,  James Choi, David Laibson, and Brigitte C. Madrian. 2010. "The Impact of Employer Matching on Savings Plan Participation under Automatic Enrollment." Research Findings in the Economics of Aging 75-96. David A. Wise, editor.  

22. Beshears, John, James Choi, David Laibson, and Brigitte C. Madrian. 2010. "How Does Simplified Disclosure Affect Individuals' Mutual Fund Choices?"Explorations in the Economics of Aging. David A. Wise, editor.  
Summarized in July 2009 NBER Digest.

23. Beshears, John, James J. Choi, David Laibson, Brigitte C. Madrian, and Brian Weller. 2010. "Public Policy and Saving for Retirement: The "Autosave" Features of the Pension Protection Act of 2006." John J. Siegfried, editor.  Better Living Through Economics.

24. Agarwal, Sumit, John Driscoll, Xavier Gabaix, and David Laibson. 2009. "The Age of Reason: Financial Decisions over the Life-Cycle and Implications for Regulation." Brookings Papers on Economic Activity. vol. 2009, issue 2, 51-117.
Supplement: What is the Age of Reason?
Web appendix is here.

25. Choi, James, David Laibson, Brigitte C. Madrian, and Andrew Metrick. 2009. "Reinforcement Learning and Savings Behavior." Journal of Finance 64(6): 2515-2534.

26. Carroll, Gabriel D., James Choi, David Laibson, Brigitte C. Madrian, and Andrew Metrick. 2009. "Optimal Defaults and Active Decisions." Quarterly Journal of Economics 124(4): 1639-1674. 
Summarized in Summer 2005 NBER Bulletin on Aging and Health
Web appendix with proofs is here. 
Previous draft with more general model is here. 

27. Choi, James J., David Laibson, Brigitte C. Madrian. 2009. "Mental Accounting in Portfolio Choice: Evidence from a Flypaper Effect." American Economic Review99(5): 2085-2095.

28. Chabris, C.F., D.I. Laibson, C.L. Morris, J.P. Schuldt, J.P., and D. Taubinsky. 2009. "The allocation of time in decision-making." Journal of the European Economic Association 7(2/3): 628-637.

29. Choi, James, David Laibson, and Brigitte Madrian. 2009. "Reducing the Complexity Costs of 401(k) Participation Through Quick Enrollment." Developments in the Economics of Aging, David A. Wise, editor. [Click here for nicely typeset text]

30. Chabris, Christopher F., David Laibson, Carrie L. Morris, Jonathon P. Schuldt, Dmitry Taubinsky. 2008. "Individual Laboratory-Measured Discount Rates Predict Field Behavior." Journal of Risk and Uncertainty 37(2-3): 237-269.

31. Beshears, John, James J. Choi, David Laibson, Brigitte C. Madrian. 2008. "How Are Preferences Revealed?" Journal of Public Economics 92(8-9): 1787-1794.

32. Chabris, Christopher, David Laibson, and Jonathan Schuldt. 2008. "Intertemporal Choice." Palgrave Dictionary of Economics.

33. Gabaix, Xavier, and David Laibson. 2008. "The Seven Properties of Good Models." In eds Andrew Caplin and Andrew Schotter The Methodologies of Modern Economics: Foundations of Positive and Normative Economics, Oxford University Press. 

34. Beshears, John, James Choi, David Laibson, and Brigitte Madrian. 2008. "The Importance of Default Options for Retirement Saving Outcomes: Evidence from the United States." Kay. Stephen J. and Tapen Sinha, editors. Lessons from Pension Reform in the Americas. Oxford University Press 59-87.

35. Benjamin, Daniel J., Christopher F. Chabris, Edward L. Glaeser, Vilmundur Gudnason, Tamara B. Harris, David I. Laibson, Lenore Launer, and Shaun Purcell.  2007. "Genoeconomics." Biosocial Surveys, National Research Council of the National Academies. Maxine Weinstein, James W. Vaupel, and Kenneth W. Wachter, editors.

36. Berns, Gregory S., David Laibson, and George Loewenstein.  2007. "Intertemporal choice – toward an integrative framework." Trends in Cognitive Sciences 11(11): 482-8. 

37. McClure, Sam, Keith Ericson, David Laibson, George Loewenstein, and Jonathan Cohen. 2007. "Time Discounting for Primary Rewards." Journal of Neuroscience27(21): 5796–5804. 

38. Gabaix, Xavier, David Laibson, Guillermo Moloche and Stephen Weinberg. 2006. "Costly Information Acquisition: Experimental Analysis of a BoundedlyRational Model." American Economic Review 96(4): 1043-1068.

39. Choi, James, David Laibson, Brigitte Madrian, and Andrew Metrick. 2006.  "Saving for Retirement on the Path of Least Resistance." Behavioral Public Finance: Toward a New Agenda. Ed McCaffrey and Joel Slemrod, eds. New York: Russell Sage Foundation 304-51. 

40. Gabaix, Xavier, and David Laibson. 2006. "Shrouded Attributes, Consumer Myopia, and Information Suppression in Competitive Markets." Quarterly Journal of Economics 121(2): 505-540. 

41. Choi, James, David Laibson, and Brigitte C. Madrian. 2005. "Are Empowerment and Education Enough? Under-Diversification in 401(k) Plans." Brookings Papers on Economic Activity 2:151-98. 

42. Choi, James, David Laibson, Brigitte Madrian, and Andrew Metrick. 2005. "Passive Decisions and Potent Defaults." David Wise, editor. Analyses in the Economics of Aging. University of Chicago Press 59-78. 

43. Beshears, John, James Choi, David Laibson, and Brigitte Madrian. 2005. "Early Decisions: A Regulatory Framework." Swedish Economic Policy Review 12(2): 41-60. 

44. McClure, Samuel M., David Laibson, George Loewenstein and Jonathan D. Cohen. 2004. "Separate Neural Systems Value Immediate and Delayed Monetary Rewards." Science 306: 503-507.

45. Choi, James, David Laibson, and Brigitte C. Madrian. 2004. "Plan Design and 401(k) Savings Outcomes." National Tax Journal 57(2) :275-98. 
Summarized in October 2004 NBER Digest.

46. Choi, James, David Laibson, Brigitte Madrian, and Andrew Metrick. 2004. "For Better or For Worse: Default Effects and 401(k) Savings Behavior." David A. Wise, editor. Perspectives in the Economics of Aging. University of Chicago Press 81-121. [Summarized in April 2002 NBER Digest]

47. Choi, James, David Laibson, Brigitte Madrian, and Andrew Metrick. 2004. "Employee Investment Decisions about Company Stock." Olivia Mitchell and Steven Utkus, editors. Pension Design and Structure: New Lessons from Behavioral Finance. Oxford University Press 121-136. 

48. Gabaix, Xavier, and David Laibson. 2003. "A New Challenge for Economics: 'The Frame Problem'." I. Broca, and J. Carillo editors. Collected Essays in Psychology and Economics. Oxford University Press. 

49. Laibson, David, Andrea Repetto and Jeremy Tobacman. 2003. "A Debt Puzzle." Philippe Aghion, Roman Frydman, Joseph Stiglitz, Michael Woodford, editors. Knowledge, Information, and Expectations in Modern Economics: In Honor of Edmund S. Phelps. Princeton: Princeton University Press 228-266. 

50. Laibson, David. 2003. "Intertemporal Decision Making." Encyclopedia of Cognitive Science. Nature Publishing Group: London. 

51. Glaeser, Edward L., David Laibson, and Bruce Sacerdote. 2002. "An Economic Approach to Social Capital." The Economic Journal 112(483): F437-F458.

52. Harris, Christopher J., and David Laibson. 2002. "Hyperbolic Discounting and Consumption." Mathias Dewatripont, Lars Peter Hansen, and StephenTurnovsky, editors. Advances in Economics and Econometrics: Theory and Applications, Volume 1. Eighth World Congress (1)258-298. 

53. Choi, James, David Laibson, Brigitte Madrian, and Andrew Metrick. 2002. "Defined Contribution Pensions: Plan Rules, Participant Decisions, and the Path of Least Resistance." James Poterba, editor. Tax Policy and the Economy (16) 67-114. [Summarized in April 2002 NBER Digest]

54. Choi, James, David Laibson and Andrew Metrick. 2002. "How does the Internet Affect Trading? Evidence from Investor Behavior in 401(k) Plans." Journal of Financial Economics 64(3):397-421. [Summarized in February 2001 NBER Digest]

55. Gabaix, Xavier and David Laibson. 2001.  "The 6D Bias and the Equity Premium Puzzle." NBER Macroeconomics Annual 16:257-312. 

56. Harris, Christopher, and David Laibson. 2001. "Dynamic Choices of Hyperbolic Consumers." Econometrica 69(4): 935-957.

57. Angeletos, George-Marios, David Laibson, Andrea Repetto, Jeremy Tobacman, and Stephen Weinberg. 2001. "The Hyperbolic Consumption Model: Calibration, Simulation, and Empirical Evaluation." Journal of Economic Perspectives 15(3): 47-68. 
Reprinted in G. Loewenstein ed. volume on Intertemporal Choice, Russell Sage Foundation.

58. Laibson, David. 2001. "A Cue-Theory of Consumption." Quarterly Journal of Economics 116(1): 81-119.

59. Gabaix, Xavier, and David Laibson. 2000. "A Boundedly Rational Decision Algorithm." American Economic Review Papers and Proceedings 90(2): 433-438.

60. Glaeser, Edward, David Laibson, Jose Scheinkman, and Christine Soutter. 2000. "Measuring Trust." Quarterly Journal of Economics 115(3): 811-846.

61. Cropper, Maureen, and David Laibson. 1999. "The Implications of Hyperbolic Discounting for Project Evaluation." John Weyant and Paul R. Portney, editors. Discounting and Intergenerational Equity. Washington: Resources for the Future. 

62. Laibson David, Andrea Repetto and Jeremy Tobacman. 1998. "Self-Control and Saving for Retirement." Brookings Papers on Economic Activity 1: 91-196. 

63. Reprinted in Social Security Reform: Financial and Political Issues in International Perspective , edited by Robin Brooks and Assaf Razin, Cambridge University Press, 2005.

64. Laibson, David, and Richard Zeckhauser. 1998. "Amos Tversky and the Ascent of Behavioral Economics." Journal of Risk and Uncertainty 16(1):7-47. 

65. Laibson, David. 1998. "Life-cycle Consumption and Hyperbolic Discount Functions." European Economic Review Papers and Proceedings 42(3-5): 861-871. 

66. Laibson, David. 1997. "Golden Eggs and Hyperbolic Discounting." Quarterly Journal of Economics 112(2): 443-477. 

67. Friedman, Benjamin M., and David Laibson. 1989. "Economic Implications of Extraordinary Movements in Stock Prices." Brookings Papers on Economic Activity1989(2): 137-189.

Edited Volume

Howard Rachlin and David Laibson eds. The Matching Law: Papers on Psychology and Economics by Richard Herrnstein. Harvard University Press, 1997.

Published Comments

(Please email if you want a copy of these comments)

1.  "Were They Prepared for Retirement? Financial Status at Advanced Ages in the HRS and AHEAD Cohorts" comment in forthcoming NBER book Investigations in the Economics of Aging, David A. Wise, editor. NBER, University of Chicago Press.

2. "Discussion of Poterba, Venti and Wise paper on Decumulation, presented at Boulders Conference 2009," in Explorations in the Economics of Aging. David A. Wise, editor. NBER, University of Chicago Press, 2011.

3. "Policymaking Insights from Behavioral Economics." comment on U.S. Household Saving Behavior: The Role of Financial Literacy, Information and Financial Education Programs,  Federal Reserve Bank of Boston, 2009.

4. Comment on Michael Hurd and James Smith’s chapter, “Anticipated and Actual Bequests” In D. Wise ed., Themes in the Economics of Aging, National Bureau of Economic Research: Cambridge, MA, 2001. 

5. "The Adequacy of Household Saving" in Brookings Papers on Economic Activity, No. 2(1999): 65-187.

6. “Spendthrift in America? On Two Decades of Decline in the U.S. Savings Rate" comment in NBER Macroeconomics Annual, 14(1999): 370-374.

7. “Choice Bracketing,” comment in Journal of Risk and Uncertainty, 19, 1999, 201-2.

8. “Psychological perspectives on 401K's,” comment in Frontiers in the Economics of Aging, edited by David Wise, NBER and University of Chicago Press, 1998, 106-120.

9. “An Economic Perspective on Addiction and Matching,” comment in Behavioral and Brain Sciences, 19:4, 1996, 583-584.