We examine informational efficiency in retail credit markets to test whether behavioral biases by participants in the banking industry might explain credit cycles. We offer a simple model of herding and limits of arbitrage in retail credit markets that follows the behavioral approach of Shleifer...

Purpose: The efficient market hypothesis (EMH) states that asset prices in financial markets always reflect all available information about economic fundamentals. The purpose of this paper is to provide a guide as to which predictions of the EMH seem to be borne out by empirical evidence....

We explore the potential of different behavioral drivers for people to use cash when presented with digital payment alternatives in retail transactions. Behavioral finance traits in our study include the otherwise neglected emotional drivers. We conducted an online survey targeting university...

Financial technology (FinTech) is driving innovation in the financial industry worldwide. This article contributes to answer the question of whether FinTech firms and traditional financial institutions compete or collaborate. We use the decade of 2010s in Spain as a case study – a country with...