← Every exhibit

Figure 2From “What is a default option?”

A contract default record

Write down the decision, the default, the exit, the signal, the fit and the review before a default goes into a contract.

Cite Embed

Figure 2A contract default record

A six-column worksheet for a contract default: whose choice it is and which options it has, what applies when the customer does not reply, how another option is chosen, what the default may suggest to the customer, which customers would choose otherwise, and when the default is checked against active choices.DecisionWhose choice,which options?DefaultWhat applieswith no reply?ExitHow is anotheroption chosen?SignalWhat may thedefaultsuggest?FitWho wouldchooseotherwise?ReviewWhen checkedagainstchoices?A default assumes that anyone who prefers another option can easily choose it; record whether that holds.

Source: Author's decision worksheet. The decision and default fields follow Jachimowicz et al. (2019), pp. 159 to 162, and Madrian and Shea (2001), pp. 1151 to 1152; the exit field follows Madrian and Shea (2001), pp. 1176 to 1179, and Jachimowicz et al. (2019), pp. 173, 176, 179; the signal field follows Madrian and Shea (2001), p. 1182, and Jachimowicz et al. (2019), p. 172; the fit field follows Madrian and Shea (2001), pp. 1164 to 1165, 1171 to 1173, and Jachimowicz et al. (2019), pp. 178 to 179; the review field follows Madrian and Shea (2001), pp. 1173 to 1174, 1185, and Jachimowicz et al. (2019), pp. 177, 179. The fields are reader inputs; no company data is supplied.

PNG4:3, 1600 × 1200, with the title, the source line and the attribution set in the image isoglu-2026-what-is-a-default-option-fig02.png

Source and evidence

Each line names a claim related to this exhibit, its source, and how it was checked.

  • B DFT-OWN-C4 Application to contracts, which neither source studied: a supplier sets a default whenever its terms say what applies without a reply (renewal or lapse, service level, payment terms); Figure 2 records decision, default, exit, signal, fit and review; a hypothetical laboratory consumables distributor moving 250 accounts to an annual framework agreement at renewal, with renewal on the current delivery schedule as the default (a status quo default, the endowment case), exit by reply form or call before the renewal date, one reply for any other option and none for the default (G5 F3), the signal that the supplier thinks the current schedule suits the account, and fit and review from the supplier's records of earlier active choices and a comparison a year on; the 401(k) case motivates fit and review (the default held most among the lowest paid; on the authors' estimate some who would otherwise have chosen a different rate moved to the default rate); a renewal recorded under a default does not show by itself that the customer weighed the options; the example records a default without recommending one; untested.Author worksheet grounded in JDWJ19-C1, JDWJ19-C6, JDWJ19-C7, MSH01-C1, MSH01-C3, MSH01-C4 and MSH01-C5; untested

Grades: A, verified against the printed page of the primary source · B, primary source, text layer only · C, authoritative secondary · D, reported.

From the essay

Cite or embed

APA 7

Isoglu, S. (2026). A contract default record [Figure]. isoglu.com. https://isoglu.com/insights/exhibits/isoglu-2026-what-is-a-default-option-fig02/

BibTeX
@misc{isoglu-2026-what-is-a-default-option-fig02,
  author = {Isoglu, Sinan},
  title = {{A contract default record}},
  year = {2026},
  howpublished = {Figure 2, isoglu.com},
  url = {https://isoglu.com/insights/exhibits/isoglu-2026-what-is-a-default-option-fig02/},
  note = {From the essay {What is a default option?}}
}
Embed this exhibit

Copy this HTML to use the PNG exhibit on your site with its source line and a link back to the exhibit page.

<figure>
  <a href="https://isoglu.com/insights/exhibits/isoglu-2026-what-is-a-default-option-fig02/">
    <img src="https://isoglu.com/social/isoglu-2026-what-is-a-default-option-fig02.png" alt="Figure 2: A contract default record" width="3200" height="2400">
  </a>
  <figcaption>Figure 2: A contract default record. Source: Author&#39;s decision worksheet. The decision and default fields follow Jachimowicz et al. (2019), pp. 159 to 162, and Madrian and Shea (2001), pp. 1151 to 1152; the exit field follows Madrian and Shea (2001), pp. 1176 to 1179, and Jachimowicz et al. (2019), pp. 173, 176, 179; the signal field follows Madrian and Shea (2001), p. 1182, and Jachimowicz et al. (2019), p. 172; the fit field follows Madrian and Shea (2001), pp. 1164 to 1165, 1171 to 1173, and Jachimowicz et al. (2019), pp. 178 to 179; the review field follows Madrian and Shea (2001), pp. 1173 to 1174, 1185, and Jachimowicz et al. (2019), pp. 177, 179. The fields are reader inputs; no company data is supplied. <a href="https://isoglu.com/insights/exhibits/isoglu-2026-what-is-a-default-option-fig02/">View exhibit</a>.</figcaption>
</figure>

Related exhibits

Figure 1Figure

401(k) participation by pay band, for employees hired before automatic enrolment and under it

What is a default option?

Figure 2Figure

An RFM analysis record

What is RFM analysis?

Figure 2Figure

A satisfaction reading record

What is customer satisfaction?

Every exhibit

Contact

Bring the question you're working on.

Research, a guest lecture, or a commercial question.