We examine experimentally the effect of complexity on individual decision making. We focus on credit choices, as they …

Who is wealthy? This paper presents empirical estimates of household movements into and out of the top percents of the …

Who is wealthy? This paper presents empirical estimates of household movements into and out of the top percents of the …

Using credit report records and data collected from several household surveys, we analyze changes in household debt and … appears to reflect a considerable decline in household debt, as households paid down mortgage debt in particular. At the end … we have observed so far in 2010. In contrast, consumers were pessimistic about the availability of credit, expecting it …

This paper tests whether heterogeneity of time preferences can explain individual credit behavior. In a field … experiments, and then match these time preference measures to individual credit reports and annual tax returns. We find that …, controlling for disposable income and other individual characteristics, individuals who are less patient have lower credit scores …

Approximately half of credit card holders in the United States regularly carry unpaid credit card debt. These so …-called revolvers exhibit payment behavior that differs from that of those who repay their entire credit card balance every month …. Previous literature has focused on the adoption of debit cards by people who carry credit card balances, but so far there has …