A finite-life private-information theory of unsecured consumer debt
نویسندگان
چکیده
منابع مشابه
A finite-life private-information theory of unsecured consumer debt
We present a theory of unsecured consumer debt that does not rely on utility costs of default or on enforcement mechanisms that arise in repeated-interaction settings. The theory is based on private information about a person’s type and on a person’s incentive to signal his type to entities other than creditors. Specifically, debtors signal their low-risk status to insurers by avoiding default ...
متن کاملA Finite-Life Private-Information Theory of Unsecured Debt
We present a theory of unsecured consumer debt that recognizes a debtor’s legal right to default. Our theory does not rely on psychological costs of default (or stigma) nor does it rely on enforcement mechanisms that arise in repeated-game settings. Our theory is based on private information about a person’s type and on a person’s incentive to signal his type by avoiding default in the credit m...
متن کاملWorking Paper No. 07-14 a Finite-life Private-information Theory of Unsecured Consumer Debt
We present a theory of unsecured consumer debt that does not rely on utility costs of default or on enforcement mechanisms that arise in repeated-interaction settings. The theory is based on private information about a person’s type and on a person’s incentive to signal his type to entities other than creditors. Specifically, debtors signal their low-risk status to insurers by avoiding default ...
متن کاملUnsecured consumer debt and mental health outcomes in middle-aged and older Americans.
OBJECTIVES Unsecured consumer debt may affect well-being negatively. We evaluated the association between unsecured debt and two distinct outcomes: depressive symptomatology and psychological well-being. METHOD Data were obtained from the 2006 Health and Retirement Study. There were 5,817 adults aged ≥ 51 who responded to a core survey and psychosocial leave-behind questionnaire. Depressive s...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
ژورنال
عنوان ژورنال: Journal of Economic Theory
سال: 2008
ISSN: 0022-0531
DOI: 10.1016/j.jet.2007.01.018