|کد مقاله||کد نشریه||سال انتشار||مقاله انگلیسی||ترجمه فارسی||نسخه تمام متن|
|885172||912663||2011||11 صفحه PDF||سفارش دهید||دانلود رایگان|
Loan repayment can be viewed as a sequence of instalments. Instalments can either fall over time (i.e., repaying more in the beginning and less in the end), rise or stay constant. Three studies investigated whether the well-established preference for improvement (i.e., falling profiles) can also be observed in a loan context. Results show that consumers do prefer falling profiles over rising profiles; however, also a strong preference for constant profiles was found. These preferences for improvement and spreading even outweigh financial benefits. Consumers, hence, may sometimes opt for the financially worse loan option. Financial capability programs could benefit from including information about the perception of sequences.
► Preference over sequences is relevant for financial capability.
► Consumers prefer falling and constant loan repayment profiles over rising profiles.
► Preferences for improvement and spreading can outweigh financial benefits.
Journal: Journal of Economic Psychology - Volume 32, Issue 4, August 2011, Pages 621–631