Product information labels can help users understand complex information, leading them to make better decisions. One area where consumers are particularly prone to make costly decision-making errors is long-term saving, which requires understanding of complex concepts such as uncertainty and trade-offs. Although most people are poorly equipped to deal with such concepts, interactive design can potentially help users make better decisions. We developed an interactive information label to assist consumers with retirement saving decision-making. To evaluate it, we exposed 450 users to one of four user interface conditions in a retirement saving simulator where they made 35 yearly decisions under changing circumstances. We found a significantly better ability of users to reach their goals with the information label. Furthermore, users who interacted with the label made better decisions than those who were presented with a static information label. Lastly, we found the label particularly effective in helping novice savers.
scite is a Brooklyn-based organization that helps researchers better discover and understand research articles through Smart Citations–citations that display the context of the citation and describe whether the article provides supporting or contrasting evidence. scite is used by students and researchers from around the world and is funded in part by the National Science Foundation and the National Institute on Drug Abuse of the National Institutes of Health.