The Determinants and Consequences of Financial Education in the Workplace: Evidence from a Survey of Households

In recent years, the United States has witnessed significant growth in programs of financial and retirement education in the workplace. This phenomenon provides an opportunity to assess the effects of targeted education programs on financial choices. This paper uses a novel household survey to develop econometric evidence on the efficacy of employer-based financial education. While our primary focus concerns the effects of these programs on saving (both in general and for the purposes of retirement), we also examine a number of collateral issues. These include the circumstances under which employers offer, and employees participate in, financial education programs, and the effects of these programs on sources of information and advice concerning retirement planning. Our findings indicate that employer-based retirement education strongly influences household financial behavior.

Supplementary Motor Area Encodes Reward Expectancy in Eye-Movement Tasks

Neural activity signifying the expectation of reward has been found recently in many parts of the brain, including midbrain and cortical structures. These signals can facilitate goal-directed behavior or the learning of new skills based on reinforcements. Here we show that neurons in the supplementary motor area (SMA), an area concerned with movements of the body and limbs, also carry a reward expectancy signal in the postsaccadic period of oculomotor tasks. While the monkeys performed blocks of memory-guided and object-based saccades, the neurons discharged a burst after a ∼200-ms delay following the target-acquiring saccade in the memory task but often fired concurrently with the target-acquiring saccade in the object task. The hypothesis that this postsaccadic bursting activity reflects the expectation of a reward was tested with a series of manipulations to the memory-guided saccade task. It was found that although the timing of the bursting activity corresponds to a visual feedback stimulus, the visual feedback is not required for the neurons to discharge a burst. Second, blocks of no-reward trials reveal an extinction of the bursting activity as the monkeys come to understand that they would not be rewarded for properly generated saccades. Finally, the delivery of unexpected rewards confirmed that in many of the neurons, the activity is not related to a motor plan to acquire the reward (e.g., licking). Thus we conclude that reward expectancy is represented by the activity of SMA neurons, even in the context of an oculomotor task. These results suggest that the reward expectancy signal is broadcast over a large extent of motor cortex, and may facilitate the learning of new, coordinated behavior between different body parts

The relativistic impulse approximation for the exclusive electrodisintegration of the deuteron

The electrodisintegration of the deuteron in the frame of the Bethe-Salpeter approach with a separable kernel of the nucleon-nucleon interaction is considered. This conception keeps the covariance of a description of the process. A comparison of relativistic and nonrelativistic calculations is presented. The factorization of the cross section of the reaction in the impulse approximation is obtained by analytical calculations. It is shown that the photon-neutron interaction plays an important role.Comment: 31 pages, 14 figures, 1 tabl