| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w26328 |
| 来源ID | Working Paper 26328 |
| Misfortune and Mistake: The Financial Conditions and Decision-making Ability of High-cost Loan Borrowers | |
| Leandro Carvalho; Arna Olafsson; Dan Silverman | |
| 发表日期 | 2019-09-30 |
| 出版年 | 2019 |
| 语种 | 英语 |
| 摘要 | The appropriateness of many high-cost loan regulations depends on whether demand is driven by financial conditions (“misfortunes”) or imperfect decisions (“mistakes”). Bank records from Iceland show borrowers have especially low liquidity just before getting a loan, but their spending is not especially low in the days before the loan arrives and some spend a substantial fraction of the loans on seemingly inessential items. Borrowers exhibit lower decision-making ability (DMA) in linked choice experiments: 45% of loan dollars go to the bottom 20% of the DMA distribution. Standard determinants of demand do not explain this relationship, which is also mirrored by the relationship between DMA and an unambiguous “mistake.” Both “misfortune” and “mistake” thus appear to drive demand. |
| 主题 | Microeconomics ; Households and Firms ; Financial Economics ; Financial Institutions |
| URL | https://www.nber.org/papers/w26328 |
| 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/584000 |
| 推荐引用方式 GB/T 7714 | Leandro Carvalho,Arna Olafsson,Dan Silverman. Misfortune and Mistake: The Financial Conditions and Decision-making Ability of High-cost Loan Borrowers. 2019. |
| 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 | ||
| w26328.pdf（1239KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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