کد مقاله کد نشریه سال انتشار مقاله انگلیسی نسخه تمام متن
885172 912663 2011 11 صفحه PDF دانلود رایگان
عنوان انگلیسی مقاله ISI
Loan repayment plans as sequences of instalments
موضوعات مرتبط
علوم انسانی و اجتماعی مدیریت، کسب و کار و حسابداری بازاریابی و مدیریت بازار
پیش نمایش صفحه اول مقاله
Loan repayment plans as sequences of instalments
چکیده انگلیسی

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.

Research highlights
► 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.

ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Journal of Economic Psychology - Volume 32, Issue 4, August 2011, Pages 621–631
نویسندگان
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