Herding behavior in online P2P lending: An empirical investigation
نویسندگان
چکیده
منابع مشابه
Herding Behavior In Online P2P Lending: An Empirical Investigation
We study lender behavior in the peer-to-peer (P2P) lending market, where individuals bid on unsecured microloans requested by other individual borrowers. Online P2P exchanges are growing, but lenders in this market are not professional investors. In addition, lenders have to take big risks because loans in P2P lending are granted without collateral. While the P2P lending market shares some char...
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In this paper, we are interested in the factors that influence herding behavior in P2P lending marketplaces. We are using data from Prosper.com to examine whether internal market specific factors and external economic factors influence the amount of herding exhibited in the market. We also investigate what consequences herding has and how marketplace participants can benefit or suffer from herd...
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Online peer-to-peer (P2P) microloan lending practice is becoming prevalent worldwide. However, information asymmetry between lenders and borrowers in this market may create adverse selection and moral hazard problems that could eventually lead to a high risk of loan default. In the proposed study, we will develop a model to evaluate how imitation and language analysis can reduce information asy...
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Online shopping often requires consumers to choose among multiple products without detailed information about the quality. Herding is common in situations where consumers infer product quality from other consumers’ choices and incorporate that information into their own decision-making process. The Internet affects the herding phenomenon in two ways. On the one hand, it provides more informatio...
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The rise of online P2P lending, as a novel economic lending model, brings new opportunities and challenges for the research of credit risk evaluation. This paper aims to mine information from different data sources to improve the performance of credit risk evaluation models. Be-sides the personal financial and demographic data used in traditional models, the authors collect in-formation from (1...
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ژورنال
عنوان ژورنال: Electronic Commerce Research and Applications
سال: 2012
ISSN: 1567-4223
DOI: 10.1016/j.elerap.2012.02.001