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Regulatory mode and willingness to increase retirement savings contributions
Author(s) -
Kim Hyungsoo,
Shin Serah,
Heath Claudia J.,
Zhang Qun,
Higgins E. Tory
Publication year - 2017
Publication title -
journal of applied social psychology
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.822
H-Index - 111
eISSN - 1559-1816
pISSN - 0021-9029
DOI - 10.1111/jasp.12450
Subject(s) - psychology , mode (computer interface) , willingness to accept , actuarial science , willingness to pay , social psychology , economics , microeconomics , computer science , operating system
This study examined how two self‐regulatory modes, locomotion and assessment, relate to the willingness to increase retirement savings. Locomotion is concerned with making things happen (“just do it”). Assessment is concerned with critical evaluation (“do the right thing”). We hypothesized that individuals who score high (vs. low) in locomotion, but not those who score high (vs. low) in assessment, would be more willing to increase their savings for retirement. In addition, because high (vs. low) assessment can lead to doing the right thing in terms of seeking to maximize economic returns, we hypothesized that combining high locomotion with high assessment would especially motivate willingness to increase retirement savings. We found support for both hypotheses from a survey of university employees.