The authors examined the potentially separable contributions of 2 elements of intergroup cooperation, interaction and common fate, and the processes through which they can operate. The manipulation of interaction reduced bias in evaluative ratings, which supports the idea that these components are separable, whereas the manipulation of common fate when the groups were interacting was associated with lower bias in nonverbal facial reactions in response to contributions by in-group and out-group members. Whereas interaction activated several processes that can lead to reduced bias, including decategorization, consistent with the common in-group identity model (S. L. Gaertner, J. F. Dovidio, P. A. Anastasio, B. A. Bachman, & M. C. Rust, 1993) as well as M. Hewstone and R. J. Brown's (1986) group differentiation model, the primary set of mediators involved participants' representations of the memberships as 2 subgroups within a superordinate entity.

Most workers in defined contribution retirement plans are inattentive portfolio managers: only a few engage in any trading at all, and only a tiny minority trades actively. Using a rich new dataset on 1.2 million workers in over 1,500 plans, we find that most 401(k) plan participants are characterized by profound inertia. Almost all participants (80%) initiate no trades, and an additional 11% makes only a single trade, in a two-year period. Even among traders, portfolio turnover rates are one-third the rate of professional money managers. Those who trade in their 401(k) plans are more affluent older men, with higher incomes and longer job tenure. They tend to use the internet for 401(k) account access, hold a larger number of investment options, and are more likely to hold active equity funds rather than index or lifecycle funds. Some plan features, including offering own-employer stock, also raise trading levels.

Data from the FINRA Investor Education Foundation's National Financial Capability Study revealed that women were more likely to engage in costly credit card behaviors--like incurring late and over-the-limit fees--than men. After controlling for a number of demographic variables, including financial literacy and a selfassessment of mathematical ability, the gender-based differences in credit card behavior were eliminated. These findings suggest that credit card management differences between the sexes could be reduced if parity existed between men and women on important variables that women tend to trail men on, such as income and financial literacy.

This study examined the influence of merger integration patterns on expectations about the merger process. The integration patterns included the absorb, in which the merged organization closely resembled the acquiring company; the blend, in which features of both companies were maintained, and the combine, in which the organization resembled neither pre‐merger company. Undergraduates role‐played employees of a merging organization and written scenarios manipulated the integration pattern and membership in the acquired or acquiring organization. Participants' commitment to the merged organization was most favorable in the combine pattern. Path analyses indicated that the relationship between merger integration pattern and organizational commitment is mediated by the conditions of intergroup contact, perceptions of organizational support, organizational unity, and the degree of threat experienced.

Portfolio performance in 401(k) plans depends on both the investment menu made available by plan sponsors and participants portfolio decisions. We use a unique dataset of nearly 1 million participants in one thousand pension plans to identify key portfolio inefficiencies in 401(k) plans, attributing them either to the sponsor's menu design or to participants' own portfolio choices. We show that most sponsors offer efficient investment menus. However, many participants fail to construct efficient portfolios, leading to retirement wealth that could be one-fifth lower due to poor portfolio decisions. Because participants are the main source of inefficient DC portfolio choices, strategies targeting their portfolio choices, such as improved default investment strategies or advice programs, may help. Also, in sponsors' design of 401(k) menus, the number of options offered is less important than the range of funds provided.