Collateral requirements play an important role in credit markets. This paper shows that the endowment effect … as collateral. Using a field experiment in Kenya, we show that borrowers instead strongly prefer loans collateralized …

another and that the composition of income is irrelevant for consumption. We find in a field experiment that even in a simple … change consumption according to the suggestion of the label. A controlled laboratory experiment confirms this result and … consumers ; field experiment ; laboratory experiment …