Age-related deterioration in cognitive ability may compromise the ability of older adults to make major financial decisions. We explore whether knowledge and expertise accumulated from past decisions can offset cognitive decline to maintain decision quality over the life span. Using a unique dataset that combines measures of cognitive ability (fluid intelligence) and of general and domain-speci...

Financial risks can be broadly classified into several categories, namely market risk, credit risk, liquidity risk, operational risk, and legal risk [1]. Market risk is the risk of loss arising from changes in the value of tradable or traded assets. Credit risk is the risk of loss due to the failure of the counterparty to pay the promised obligation. Liquidity risk is the risk of loss arising f...

This paper proposes an intelligent credit card fraud detection model for detecting fraud from highly imbalanced and anonymous credit card transaction datasets. The class imbalance problem is handled by finding legal as well as fraud transaction patterns for each customer by using frequent itemset mining. A matching algorithm is also proposed to find to which pattern (legal or fraud) the incomin...

nowadays the environmental civil liability regime has wake fundaments. this article attempts to analysis the new evolutions in the fundaments of environmental civil liability theories in islamic jurisprudence and environmental law .so this paper is divided in tow sections and one introduction. part i study contemporary legal approaches in environmental civil liability and part ii explain and de...

In several jurisdictions, rules on interest rate ceilings usually treated under the concept of “usury laws” are an important part of the regulation of consumer credit, not without a constant controversy about the real bene ts to debtors, especially those with fewer resources. At rst glance, the Chilean regime of interest rate ceilings seems to be particularly robust since it considers four di e...

When people cannot commit to pay back their loans and there is limited information about their characteristics, lending institutions must draw inferences about their likelihood of default. In this paper, we examine how this inference problem impacts consumption smoothing. In particular, we study an environment populated by two types of people who differ with respect to their rates of time prefe...

This paper examines the link between access to credit and child labor at a cross-country level. Even though access to credit is central to child labor theoretically, there has been little work done to assess its importance empirically. We measure child labor as a country aggregate, and credit constraints are proxied by the level of financial development. These two variables display a strong neg...