Study • Finance · Savings
Commitments to Save: A Field Experiment in Rural Malawi.
Brune et al. (2011), 'Commitments to Save '
Summary by Mark Egan
The authors examined whether commitment devices could encourage savings amongst Malawian farmers. To this end they created two conditions offering ‘ordinary’ and ‘ordinary & commitment’ savings accounts to the farmers. Commitment accounts allowed savers to restrict access to their own money until a designated date. The Control group was not offered any special account. Only the commitment accounts had significant impacts on savings, later allowing those farmers to purchase 26% more agricultural inputs than the Control.
Tactics used
TACTICS
Commitment Devices
Behaviors addressed
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