The Bromance that Turned Economics Upside Down

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Who would guess that the modern sciences of behavioral economics and the psychology of decision-making owe their origin to a love affair (no, not sexual) between two men born early in the last century and so different that one could barely imagine them speaking to each other? Yet that is the story chronicled by the extraordinary nonfiction writer Michael Lewis …

Defined Contribution Retirement Plans Should Look and Feel More Like Defined Benefit Plans

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Why have defined contribution (DC) retirement plans delivered such uneven—and, on average, inadequate—results? How can DC sponsors, who are charged with most of the responsibility for retirement security in the United States and elsewhere, do better—much better? Can DC sponsors learn from defined benefit (DB) plans, which did achieve desirable outcomes in many cases? Can they hold on to the …