Madrian And Shea (2001) paper analyzes the impact of automatic enrollment on 401(k) savings behavior, which is like a retirement savings account. The key findings noted in the abstract is as follows. 1. 401 (k) participation is significantly higher under automatic enrollment. 2. A substantial fraction of 401 (k) participants hired under automatic enrollment retain both the default contribution rate and fund allocation even though few employees hired before automatic enrollment picked this particular outcome. These ndings suggest that there is \"inertia\" in choosing a different alternative than the \"default\" option. What behavioral aspect is most closely related to this paper? Consumption smoothing Status Quo bias 6) Time preference @ No arbitrage