The DOI matches its Crossref record; 4 of the 4 references it cites were found in a registry or an index.
Information Disclosure, Cognitive Biases, and Payday Borrowing
Open accessAbstract
Can psychology‐guided information disclosure induce borrowers to lower their use of high‐cost debt? In a field experiment at payday stores, we find that information that makes people think less narrowly (over time) about finance costs results in less borrowing. In particular, reinforcing the adding‐up dollar fees incurred when rolling over loans reduces the take‐up of future payday loans by 11% in the subsequent 4 months. Although we remain agnostic as to the overall sufficiency of better disclosure policy to “remedy” payday borrowing, we cast the 11% reduction in borrowing in light of the relative low cost of this policy.
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Bertrand, M., Duflo, E., & Mullainathan, S. (2004) · The Quarterly Journal of Economics · doi:10.1162/003355304772839588 · Cited by 10,641
Self-citationOn the practice of dichotomization of quantitative variables.
MacCallum, R. C., Zhang, S., Preacher, K. J., & Rucker, D. D. (2002) · Psychological Methods · doi:10.1037/1082-989x.7.1.19 · Cited by 3,538
Timid choices and bold forecasts: a cognitive perspective on risk taking.
Kahneman, D., & Lovallo, D. (1993) · Management Science · doi:10.1287/mnsc.39.1.17 · Cited by 2,043
O'Donoghue, T., & Rabin, M. (2001) · The Quarterly Journal of Economics · doi:10.1162/003355301556365 · Cited by 944
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The Economic Importance of Financial Literacy: Theory and Evidence
Lusardi, A., & Mitchell, O. S. (2014) · Journal of Economic Literature · doi:10.1257/jel.52.1.5 · Cited by 4,698
The Economic Importance of Financial Literacy: Theory and Evidence
Lusardi, A., & Mitchell, O. S. (2013) · SSRN Electronic Journal · doi:10.2139/ssrn.2260193 · Cited by 675
Savings by and for the Poor: A Research Review and Agenda
Karlan, D., Ratan, A. L., & Zinman, J. (2014) · Review of Income and Wealth · doi:10.1111/roiw.12101 · Cited by 548
Classification Situations: Life- chances in the neoliberal era
Fourcade, M., & Healy, K. (2013) · Accounting, Organizations and Society · doi:10.1016/j.aos.2013.11.002 · Cited by 544
Poverty and Economic Decision-Making: Evidence from Changes in Financial Resources at Payday
Carvalho, L. S., Meier, S., & Wang, S. W. (2016) · American Economic Review · doi:10.1257/aer.20140481 · Cited by 506
Metadata
- Authors
- BERTRAND, M., & MORSE, A.
- Venue
- The Journal of Finance
- Publisher
- Wiley
- Published
- 2011-11-14
- Volume
- 66
- Issue
- 6
- Pages
- 1865-1893
- ISSN
- 0022-1082 (ISSN-L)
- 1540-6261
- OpenAlex
- W3121705954
- Cited by
- 546
- References
- 4
- FWCI
- 123.56
- Type
- journal article
- Language
- en
- Open access
- bronze
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