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Information asymmetries are important in theory but difficult to identify in practice. We estimate the empirical importance of adverse selection and moral hazard in a consumer credit market using a new field experiment methodology derived from theoretical models. We randomized 58,000 direct mail...
Persistent link: https://www.econbiz.de/10010723993
Persistent link: https://www.econbiz.de/10010724530
Information asymmetries are important in theory but difficult to identify in practice. We estimate the empirical importance of adverse selection and moral hazard in a consumer credit market using a new field experiment methodology derived from theoretical models. We randomized 58,000 direct mail...
Persistent link: https://www.econbiz.de/10005414667
Persistent link: https://www.econbiz.de/10010723981