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An Empirical Study of the Credit Market with Unobserved Consumer Typers

Gan, Li - 2008

This paper proposes an econometric model to identify unobserved consumer types in the credit market. Consumers choose different amounts of loan because of differences in their time or risk preferences (types). Thus, the unconditional probability of default is modeled using a mixture density...

Persistent link: https://www.econbiz.de/10012464774

A Simple Test of Adverse Events and Strategic Timing Theories of Consumer Bankruptcy

Gan, Li - 2005

decision variables, such as financial benefit from filing for bankruptcy, or debt discharged in bankruptcy are endogenous with … the bankruptcy decision or not. For the strategic timing theory such decisions are endogenous, while for the adverse … are exogenous with the bankruptcy decision, consistent with the adverse events theory …

Persistent link: https://www.econbiz.de/10012466908