Fernando Luco
Switching Costs and Competition in Retirement Investment
Texas A&M University
different switching costs affect choices competition private pension system answer question setting variation employment status allows identify two switching costs jointly affect enrollees decisions cost evaluating financial information cost bureaucratic process enrollees must navigate switching use variation estimate different switching costs study impact competition among pension funds find though eliminating switching costs decreases equilibrium fees eliminating either switching cost decreases fees significantly jel d14 g23 j26 j32 o15