相关论文: Weighing Anchor on Credit Card Debt

This paper provides a comprehensive examination of the evolution of credit cards in the United States, tracing their historical development, causes, consequences, and impact on both individuals and the economy. It delves into the…

Nowadays consumer loan plays an important role in promoting the economic growth, and credit cards are the most popular consumer loan. One of the most essential parts in credit cards is the credit limit management. Traditionally, credit…

Anchoring is a term used in psychology to describe the common human tendency to rely too heavily (anchor) on one piece of information when making decisions. A trading algorithm inspired by biological motors, introduced by L. Gil\cite{Gil},…

Credit scores are critical for allocating consumer debt in the United States, yet little evidence is available on their performance. We benchmark a widely used credit score against a machine learning model of consumer default and find…

Voting online with explicit ratings could largely reflect people's preferences and objects' qualities, but ratings are always irrational, because they may be affected by many unpredictable factors like mood, weather, as well as other…

We provide the first economic research on `buy now, pay later' (BNPL): an unregulated FinTech credit product enabling consumers to defer payments into interest-free instalments. We study BNPL using UK credit card transaction data. We…

I study the role of minimum wage as an anchor for judgements of the fairness of wages by both human subjects and artificial intelligence (AI). Through surveys of human subjects enrolled in the crowdsourcing platform Prolific.co and queries…

This work contributes to a foundational question in economic theory: how do individual-level cognitive biases interact with collective choice mechanisms? We study a setting where voters hold intrinsic preference rankings over a set of…

Reinforcement learning has been explored for many problems, from video games with deterministic environments to portfolio and operations management in which scenarios are stochastic; however, there have been few attempts to test these…

We develop a model to predict consumer default based on deep learning. We show that the model consistently outperforms standard credit scoring models, even though it uses the same data. Our model is interpretable and is able to provide a…

This study explores the interdependent relationship between consumer credit and consumer confidence in the United States using monthly data from January 1978 to August 2024. Utilizing a Vector Error Correction Model (VECM), the analysis…

The landscape of payment methods in retail is a complex and evolving area. Vendors are motivated to conduct an appropriate analysis to decide what payment methods to accept out of a vast range of options. Many factors are included in this…

The introduction of new payment methods has resulted in one of the most significant changes in the way we consume goods and services. In this paper, I present results of a field and a laboratory experiment designed to determine the effect…

It might be intuitive to expect that small or reimbursed financial loss resulting from credit or debit card fraud would have low or no financial impact on victims. However, little is known about the extent to which financial fraud impacts…

It has been argued that innovation in transaction technology may modify the cash holding behaviour of agents, as debit card holders may either withdraw cash from ATMs or purchase items using POS devices at retailers. In this paper, within…

CONTEXT: The role of expert judgement is essential in our quest to improve software project planning and execution. However, its accuracy is dependent on many factors, not least the avoidance of judgement biases, such as the anchoring bias,…

In many service markets, expert providers possess an information advantage over consumers regarding the necessary services, creating opportunities for fraudulent practices. These may involve overtreatment through unnecessary services or…

In decentralized non-custodial micropayments, the central challenge is not whether payments can be executed directly, but under what conditions such systems can offer credit limits without requiring full collateral backing. Existing…

Many marketing applications, including credit card incentive programs, offer rewards to customers who exceed specific spending thresholds to encourage increased consumption. Quantifying the causal effect of these thresholds on customers is…

Debt aversion can have severe adverse effects on financial decision-making. We propose a model of debt aversion, and design an experiment involving real debt and saving contracts, to elicit and jointly estimate debt aversion with…