2012/12/27 Report No：12-16
Default Effects, Transaction Costs, and Imperfect Information
We develop a decision framework with imperfect information to analyze the effects of transaction costs on the tendency for individuals to remain with a default option. We demonstrate how transaction costs can be a more important source of such default effects than commonly thought. A further, potentially surprising result shows that transaction costs are able to explain why some forms of default effects increase with the number of options.
|キーワード||Default effect; transaction cost; imperfect information.|