. Finally, we find that those debtors who misreported income had a lower probability of default on their debt repayment plans …

produce multiple varieties and borrow with the option to default against their future cash ow. A variety can die with a …

who do default less. Additional findings suggest borrowers self-select on private information about their future ability …

adverse selection, screening, and imperfect competition. We show that the relationship between an agent's type, the quantity …

unique equilibrium and then use this characterization to explore the interaction between adverse selection, screening, and …

access to unsecured credit (because of bankruptcy costs) and aggregate shocks, we show that the cyclical behavior of … credit match the sizes of credit and bankruptcy volatilities. We also find that when the right to file for bankruptcy does …

This study examines key default determinants of fintech loans, using loan-level data from the LendingClub consumer … macroeconomic variables that are important in determining default. We find an important role of alternative data in determining loan … default, even after controlling for the obvious risk characteristics and the local economic factors. The results are robust to …