000			02369cam a22003737 4500
001			w18764
003			NBER
005			20211020110350.0
006			m o d
007			cr cnu||||||||
008			210910s2013 mau fo 000 0 eng d
100	1		_aPool, Veronika K.
245	1	0	_aIt Pays to Set the Menu: _bMutual Fund Investment Options in 401(k) Plans / _cVeronika K. Pool, Clemens Sialm, Irina Stefanescu.
260			_aCambridge, Mass. _bNational Bureau of Economic Research _c2013.
300			_a1 online resource: _billustrations (black and white);
490	1		_aNBER working paper series _vno. w18764
500			_aFebruary 2013.
520	3		_aThis paper investigates whether mutual fund families acting as trustees of 401(k) plans display favoritism toward their own funds. Using a hand-collected dataset on retirement investment options, we show that poorly-performing funds are less likely to be removed from and more likely to be added to a 401(k) menu if they are affiliated with the plan trustee. We find no evidence that plan participants undo this affiliation bias through their investment choices. Finally, the subsequent performance of poorly-performing affiliated funds indicates that these trustee decisions are not information driven and are costly to retirement savers.
530			_aHardcopy version available to institutional subscribers
538			_aSystem requirements: Adobe [Acrobat] Reader required for PDF files.
538			_aMode of access: World Wide Web.
588	0		_aPrint version record
690		7	_aG02 - Behavioral Finance: Underlying Principles _2Journal of Economic Literature class.
690		7	_aG11 - Portfolio Choice • Investment Decisions _2Journal of Economic Literature class.
690		7	_aG23 - Non-bank Financial Institutions • Financial Instruments • Institutional Investors _2Journal of Economic Literature class.
690		7	_aH55 - Social Security and Public Pensions _2Journal of Economic Literature class.
700	1		_aSialm, Clemens. _920719
700	1		_aStefanescu, Irina.
710	2		_aNational Bureau of Economic Research.
830		0	_aWorking Paper Series (National Bureau of Economic Research) _vno. w18764.
856	4	0	_uhttps://www.nber.org/papers/w18764
856			_yAcceso en línea al DOI _uhttp://dx.doi.org/10.3386/w18764
942			_2ddc _cW-PAPER
999			_c329359 _d287921