To mitigate asymmetric information in the consumer lending market, lenders typically rely on credit information to grant loans. In this paper, we study how the digitization of employment and income verification promotes inclusive access to credit by further reducing asymmetric information over...

Abstract We study how receiving a bonus changes the demand for auto loans and the risk of future delinquency. Unlike traditional consumer products, auto loans have a long-term impact on consumers' financial state because of the monthly payment obligation. Using a large consumer panel data set of...

This paper empirically investigates how marketers can retarget consumers who have searched online but did not purchase, based on their search behaviors. To infer the relationship between search activities and preferences, we estimate a structural search model that characterizes the consumer...

We study the impact of launching a non-tiered customer loyalty program on consumers' spending per visit, frequency of visits and attrition rates, as well as the overall customer value. We demonstrate these results both through descriptive difference-in-difference regressions as well as through a...

Machine learning tools such as neural networks are increasingly applied in marketing and economics to learn complex relations in data. The learned relations allow machines to perform various tasks, such as recognizing objects from images or recognizing emotions from speech. This paper explores...