Credit Card Borrowing and the Monoamine Oxidase A (MAOA) Gene

Using a discovery and replication sample from a U.S. representative data set, we show that a functional polymorphism on the MAOA gene is associated with credit card borrowing behavior. For the combined sample of approximately 12,000 individuals we fi nd that having one or both MAOA alleles of the less transcriptionally efficient type raises the average likelihood of reporting credit card debt by about 4%. These results suggest that behavioral models bene t from integrating genetic variation and that economists should consider the welfare consequences of possible discrimination by lenders on the basis of genotype