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| Type | Working Paper |
| Scope | Discipline-based scholarship |
| Title | Under-savers anonymous: evidence on self-help groups and peer pressure as a savings commitment device |
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| Institution | National Bureau of Economic Research |
| Series Name | NBER working paper series |
| Number | 18417 |
| Number of Pages | 46 |
| Date | 2012 |
| Abstract Text | We test the effectiveness of self-help peer groups as a commitment device for precautionary savings, through two randomized field experiments among 2,687 microentrepreneurs in Chile. The first experiment finds that self-help peer groups are a powerful tool to increase savings (the number of deposits grows 3.5-fold and the average savings balance almost doubles). Conversely, a substantially higher interest rate has no effect on most participants. A second experiment tests an alternative delivery mechanism and shows that effects of a similar size can be achieved by holding people accountable through feedback text messages, without any meetings or peer pressure. |
| Free access at | Official URL |
| Official URL | http://www.nber.org/papers/w18417 |
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