Alan, Sule; Cemalcilar, Mehmet; Karlan, Dean S.; … - C.E.P.R. Discussion Papers - 2015
Models of shrouding predict that firms lack incentives to compete on add-on prices. Working with a large Turkish bank to test SMS direct marketing promotions to 108,000 existing checking account holders, we find that messages promoting a large discount on the overdraft interest rate reduce...