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To Pay or Autopay? Fintech Innovation and Credit Card Payments

Wang, Jialan - National Bureau of Economic Research - 2024

Digital technologies and fintech firms have rapidly reshaped the consumer financial landscape in recent years, and have the potential to help consumers make better decisions and improve their financial health. Existing technologies such as autopay are also experiencing increased takeup, a trend...

Persistent link: https://www.econbiz.de/10014528372

Do Credit Card Companies Screen for Behavioral Biases?

Ru, Hong - 2016

hidden fees when customers are less exposed to negative cash flow shocks. These findings are in line with the recent …

Persistent link: https://www.econbiz.de/10012456316

Open Banking and Digital Payments : Implications for Credit Access

Alok, Shashwat; Ghosh, Pulak; Kulkarni, Nirupama; Puri, … - National Bureau of Economic Research - 2024

Does the ability to generate verifiable digital financial histories, with customers having data-sharing rights, improve credit access? We answer this using India's launch of an Open-Banking based public digital payment infrastructure (UPI). Using rarely available data on the universe of consumer...

Persistent link: https://www.econbiz.de/10015171662

Consumer Surplus of Alternative Payment Methods : Paying Uber with Cash

Alvarez, Fernando E. - 2020

riders have the option to use cash or credit cards to pay for rides. We use three field experiments involving approximately … 400,000 riders to estimate the loss of private benefits for riders if a ban on cash payments is implemented. We find that … Uber riders, using cash as means of payment either sometimes or exclusively, suffer an average loss of approximately 50% of …

Persistent link: https://www.econbiz.de/10012482355

Minimum Payments and Debt Paydown in Consumer Credit Cards

Keys, Benjamin J. - 2016

Using a dataset covering one quarter of the U.S. general-purpose credit card market, we document that 29% of accounts regularly make payments at or near the minimum payment. We exploit changes in issuers' minimum payment formulas to distinguish between liquidity constraints and anchoring as...

Persistent link: https://www.econbiz.de/10012455938

Households' Response to the Wealth Effects of Inflation

Schnorpfeil, Philip; Weber, Michael; Hackethal, Andreas - National Bureau of Economic Research - 2023

We study the redistributive effects of inflation combining administrative bank data with an information provision experiment during an episode of historic inflation. On average, households are well-informed about prevailing inflation and are concerned about its impact on their wealth; yet, while...

Persistent link: https://www.econbiz.de/10014372429

Genetic Risk for Alzheimer's Disease and Related Dementias : Cognition, Economic Behavior, and Clinically Actionable Information

Jeong, Yeongmi; Papageorge, Nicholas W.; Skira, Meghan; … - National Bureau of Economic Research - 2024

Genetic factors play a major role in the development of Alzheimer's disease and related dementias (ADRD). Observable genetic factors could impact household planning and medical care if they contain actionable information, meaning that they i) are associated with significant harms, ii) reflect...

Persistent link: https://www.econbiz.de/10014512035

Social Security Claiming Intentions : Psychological Ownership, Loss Aversion, and Information Displays

Shu, Suzanne B.; Payne, John W. - National Bureau of Economic Research - 2023

For many Americans the question of when to claim Social Security benefits is one of the most consequential financial decisions they will ever face. While acknowledging that individuals differ in terms of optimal timing for starting Social Security benefits, many economists argue that an average...

Persistent link: https://www.econbiz.de/10014322886

Why Do Europeans Save? Micro-Evidence from the Household Finance and Consumption Survey

Horioka, Charles; Ventura, Luigi - National Bureau of Economic Research - 2024

We analyze the saving motives of European households using micro-data from the Household Finance and Consumption Survey (HFCS), which is conducted by the European Central Bank. We find that the rank ordering of saving motives differs greatly depending on what criterion is used to rank them. For...

Persistent link: https://www.econbiz.de/10015056164

Sticking to Your Plan : The Role of Present Bias for Credit Card Paydown

Kuchler, Theresa - 2018

Using high-frequency transaction-level income, spending, balances, and credit limits data from an online financial service, we show that many consumers fail to stick to their self-set debt paydown plans and argue that this behavior is best explained by a model of present bias. Theoretically, we...

Persistent link: https://www.econbiz.de/10012452840