We report evidence that salience may have economically signi.cant e¤ects on homeowners.borrowing behavior, through a bias in favour of less salient but more costly loans. Survey evidence corroborates the existence of such a bias. We outline a simple model in which some consumers are biased and show that under plausible assumptions this affects prices in equilibrium. Market data support the predictions of the model
This paper explores the significance of unobservable default risk in mortgage and automobile loan ma...
textabstractConsumers often have to make decisions involving computations with interest rates. It is...
This paper explores the significance of unobservable default risk in mortgage and automobile loan ma...
We report evidence that salience may have economically significant effects on homeowners’ borrowing ...
We report evidence that salience may have economically signi\u85cant e¤ects on homeownersborrowing b...
We report evidence that salience may have economically significant effects on homeowners' borrowing ...
We report evidence that salience may have economically significant effects on homeowners' borrowing ...
We show how a regulatory disclosure of hidden debt can eliminate a large mispricing in housing. In a...
Recently, U.S. households have committed a rising share of disposable personal income to required pr...
In this paper we investigate some implications of recent results about salience on loan decisions. ...
People underappreciate how their own behavior and exogenous factors affect their future utility, and...
This article tests for bias in consumer lending using administrative data from a high-cost lender in...
We consider borrowers with the opportunity to raise funds from a competitive banking sector that sha...
This paper tests for incentive and selection effects in a subprime consumer credit market. We estima...
We estimate the cost of cultural biases in high-stake economic decisions by comparing agents’ peer-t...
This paper explores the significance of unobservable default risk in mortgage and automobile loan ma...
textabstractConsumers often have to make decisions involving computations with interest rates. It is...
This paper explores the significance of unobservable default risk in mortgage and automobile loan ma...
We report evidence that salience may have economically significant effects on homeowners’ borrowing ...
We report evidence that salience may have economically signi\u85cant e¤ects on homeownersborrowing b...
We report evidence that salience may have economically significant effects on homeowners' borrowing ...
We report evidence that salience may have economically significant effects on homeowners' borrowing ...
We show how a regulatory disclosure of hidden debt can eliminate a large mispricing in housing. In a...
Recently, U.S. households have committed a rising share of disposable personal income to required pr...
In this paper we investigate some implications of recent results about salience on loan decisions. ...
People underappreciate how their own behavior and exogenous factors affect their future utility, and...
This article tests for bias in consumer lending using administrative data from a high-cost lender in...
We consider borrowers with the opportunity to raise funds from a competitive banking sector that sha...
This paper tests for incentive and selection effects in a subprime consumer credit market. We estima...
We estimate the cost of cultural biases in high-stake economic decisions by comparing agents’ peer-t...
This paper explores the significance of unobservable default risk in mortgage and automobile loan ma...
textabstractConsumers often have to make decisions involving computations with interest rates. It is...
This paper explores the significance of unobservable default risk in mortgage and automobile loan ma...