Claims: Retrieval Failures and Consumption Smoothing: A Field Experiment on Seasonal Poverty -- by Ned Augenblick, Kelsey Jack, Supreet Kaur, Felix Masiye, Nicholas G. Swanson
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- title: Retrieval Failures and Consumption Smoothing: A Field Experiment on Seasonal Poverty -- by Ned Augenblick, Kelsey Jack, Supreet Kaur, Felix Masiye, Nicholas G. Swanson Source
- url: https://www.nber.org/papers/w35430#fromrss Source
- summary: Individuals may fail to recall and use information they already know when making decisions. We empirically investigate whether such “retrieval failures” distort consumption smoothing behavior among Zambian farmers, who derive their income from one annual harvest and then spend it down over the course of the year. We document that individuals underestimate upcoming spending by 50%, creating scope for under-saving. In order to improve recall, we randomize an intervention that prompts individuals t… Source