Question: Some programs have an opt-out system where people are automatically put in the program unless they opt out. Other programs are opt-in programs; people must

Some programs have an opt-out system where people are automatically put in the program unless they opt out. Other programs are opt-in programs; people must choose to participate. Opt-out programs are far more popular than opt-in programs for 401(k) programs. How do you think a behavioral economist would explain this?

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