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	Provedor de dados AgEcon (4) Autor Karlan, Dean S. (3) Zinman, Jonathan (3) Bertrand, Marianne (1) McIntosh, Craig (1) Mullainathan, Sendhil (1) Sadoulet, Elisabeth (1) Shafir, Eldar (1) de Janvry, Alain (1) Mais... Palavra-chave Credit markets (4) Microfinance (4) Consumer/Household Economics (2) Development finance (2) Field experiment (2) Financial Economics (2) G2 (2) O1 (2) Adverse selection (1) Behavioral economics (1) C9 (1) C93 (1) Competition (1) Consumer credit (1) D01 (1) D1 (1) D12 (1) D14 (1) D21 (1) D8 (1) Mais... Tipo do documento Working or Discussion Paper (4) Ano 2005 (3) 2003 (1) País United States (4) Idioma Inglês (4)		Ordenar por:  Relevância Autor Título Ano Registros recuperados: 4 Primeira ... 1 ... Última Elasticities of Demand for Consumer Credit AgEcon Karlan, Dean S.; Zinman, Jonathan. The price elasticity of demand for credit has major implications for macroeconomics, finance, and development. We present estimates of this parameter derived from a randomized trial. The experiment was implemented by a consumer microfinance lender in South Africa and identifies demand curves that, while downward-sloping with respect to price, are flatter than recent estimates in both developing and developed countries throughout most of a wide price range. However, demand becomes highly price sensitive at higher-than-normal rates. We discuss several interpretations of this kink and present some related evidence. We also find that loan size is far more responsive to changes in loan maturity than to changes in interest rate. This pattern is more pronounced... Tipo: Working or Discussion Paper Palavras-chave: Credit markets; Microfinance; Demand elasticity; Development finance; Maturity elasticity; Consumer credit; Liquidity constraints; Consumer/Household Economics; Demand and Price Analysis; D1; D9; E2; G2; O1. Ano: 2005 URL: http://purl.umn.edu/28485 How Rising Competition Among Microfinance Lenders Affects Incumbent Village Banks AgEcon McIntosh, Craig; de Janvry, Alain; Sadoulet, Elisabeth. This paper uses data from Uganda's largest incumbent microfinance institution to analyze the impact of entry by competing lenders on client behavior. We first examine the geographic placement decisions of competitors, and find that placement decisions are strongly affected by district-level characteristics. We observe that increased competition induces a decline in repayment performance and in savings deposited with the incumbent Village Bank, suggesting multiple loan-taking by clients. Urban clients take multiple loans primarily from lenders with more individual methodologies, while rural clients borrow from several group lenders. Individuals who operate larger businesses are the ones most likely to leave the incumbent Village Bank when a Solidarity Group... Tipo: Working or Discussion Paper Palavras-chave: Microfinance; Competition; Credit markets; Financial Economics; O16; D14; L1. Ano: 2003 URL: http://purl.umn.edu/25073 Observing Unobservables: Identifying Information Asymmetries with a Consumer Credit Field Experiment AgEcon Karlan, Dean S.; Zinman, Jonathan. Information asymmetries are important in theory but difficult to identify in practice. We estimate the empirical importance of adverse selection and moral hazard in a consumer credit market using a new field experiment methodology. We randomized 58,000 direct mail offers issued by a major South African lender along three dimensions: 1) the initial "offer interest rate" appearing on direct mail solicitations; 2) a "contract interest rate" equal to or less than the offer interest rate and revealed to the over 4,000 borrowers who agreed to the initial offer rate; and 3) a dynamic repayment incentive that extends preferential pricing on future loans to borrowers who remain in good standing. These three randomizations, combined with complete knowledge of the... Tipo: Working or Discussion Paper Palavras-chave: Information asymmetries; Field experiment; Adverse selection; Moral hazard; Development finance; Credit markets; Microfinance; Financial Economics; C9; D8; G2; G3; O1. Ano: 2005 URL: http://purl.umn.edu/28482 What's Psychology Worth? A Field Experiment in the Consumer Credit Market AgEcon Bertrand, Marianne; Karlan, Dean S.; Mullainathan, Sendhil; Shafir, Eldar; Zinman, Jonathan. Numerous laboratory studies report on behaviors inconsistent with rational economic models. How much do these inconsistencies matter in natural settings, when consumers make large, real decisions and have the opportunity to learn from experiences? We report on a field experiment designed to address this question. Incumbent clients of a lender in South Africa were sent letters offering them large, short-term loans at randomly chosen interest rates. Psychological “features” on the letter, which did not affect offer terms or economic content, were also independently randomized. Consistent with standard economics, the interest rate significantly affected loan take-up. Inconsistent with standard economics, the psychological features also significantly affected... Tipo: Working or Discussion Paper Palavras-chave: Behavioral economics; Psychology; Microfinance; Marketing; Field experiment; Credit markets; Consumer/Household Economics; D01; C93; D12; D21; D81; D91; M37; O12. Ano: 2005 URL: http://purl.umn.edu/28441 Registros recuperados: 4 Primeira ... 1 ... Última

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