不幸与失误：高成本贷款借款人的财务状况与决策能力
Misfortune and Mistake: The Financial Conditions and Decision-making Ability of High-Cost Loan Borrowers.
作者信息
Carvalho Leandro, Olafsson Arna, Silverman Dan
机构信息
University of Southern California.
Copenhagen Business School.
出版信息
J Polit Econ. 2024 Sep;132(9):3173-3213. doi: 10.1086/730200. Epub 2024 Aug 14.
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. 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.
许多高成本贷款法规是否合理取决于需求是由财务状况（“不幸”）还是不完美决策（“失误”）驱动。冰岛的银行记录显示，借款人在获得贷款前的流动性特别低。在关联选择实验中，借款人表现出较低的决策能力（DMA）：45%的贷款资金流向了DMA分布最低的20%人群。需求的标准决定因素无法解释这种关系，DMA与明确的“失误”之间的关系也反映了这一点。因此，“不幸”和“失误”似乎都推动了需求。
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