Alphabeticity Bias in 401(k) Investing

It's interesting how little biases creep into how people make investing choices.  For example, the alphabetical order of the 401K choices listed in a plan brochure (or website) can influence the choices that investors make.

This is discussed in a recent paper published in the Financial Review (an academic journal that I c0-edit). 

Here's the paper
https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3295400&mod=article_inline

And here's a link to a discussion in the WSJ. https://www.wsj.com/articles/for-some-401-k-holders-picking-funds-is-as-simple-as-abc-unfortunately-11575861000?shareToken=st5b42cefaa561463394d1c01677966180

There are several solutions to this problem.

1. Don't have so many options on the plan in the first place.   If there are just 5 choices, people are more likely to work down the full list.
2. Group choices in more logical groups.   For example, group by "equity" "bonds" "international".  And again, don't provide too many choices.
3. Allow re-sorting of the list.