Wilson, Christopher Garrod, Luke Munro, Alistair Default effects, transaction costs, and imperfect information We develop a decision framework with imperfect information to analyze the effects of transaction costs on the tendency for individuals to remain with a default option. We demonstrate how transaction costs can be a more important source of such default effects than commonly thought. A further, potentially surprising result shows that transaction costs are able to explain why some forms of default effects increase with the number of options. Default effect;Transaction cost;Imperfect information;Economics;Economics not elsewhere classified 2014-07-22
    https://repository.lboro.ac.uk/articles/journal_contribution/Default_effects_transaction_costs_and_imperfect_information/9494219