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When Smaller Menus are Better: Variability in Menu-Setting Ability and 401(k) Plans
President and Fellows of Harvard College Link to more items from this source
Apr. 29, 2011

We illustrate this result [a negative relation between menu size and menu quality, i.e., a smaller menu is better than a larger menu] empirically in the context of 401(k) plans, where we show a negative relation between the number of the investment choices in the 401(k) plan and the quality of optimal portfolio achievable given those investment choices.

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