| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w16855 |
| 来源ID | Working Paper 16855 |
| Learning by Doing with Asymmetric Information: Evidence from Prosper.com | |
| Seth M. Freedman; Ginger Zhe Jin | |
| 发表日期 | 2011-03-03 |
| 出版年 | 2011 |
| 语种 | 英语 |
| 摘要 | Using peer-to-peer (P2P) lending as an example, we show that learning by doing plays an important role in alleviating the information asymmetry between market players. Although the P2P platform (Prosper.com) discloses part of borrowers' credit histories, lenders face serious information problems because the market is new and subject to adverse selection relative to offline markets. We find that early lenders did not fully understand the market risk but lender learning is effective in reducing the risk over time. As a result, the market excludes more and more sub-prime borrowers and evolves towards the population served by traditional credit markets. |
| 主题 | Microeconomics ; Households and Firms ; General Equilibrium ; Economics of Information ; Industrial Organization ; Market Structure and Firm Performance ; Industry Studies |
| URL | https://www.nber.org/papers/w16855 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/574529 |
| 推荐引用方式 GB/T 7714 | Seth M. Freedman,Ginger Zhe Jin. Learning by Doing with Asymmetric Information: Evidence from Prosper.com. 2011. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w16855.pdf（1086KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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