ENGLISH ABSTRACT: The National Credit Act came into being on the 1st of June 2007 and besides its other objectiveswas intended to make credit more accessible to all South Africans, to stop unreasonable practicesby lenders and to protect consumers against reckless lending. This research study...

Information asymmetries are important in theory but difficult to identify in practice. We estimate the empirical importance of adverse selection and moral hazard in a consumer credit market using a new field experiment methodology. We randomized 58,000 direct mail offers issued by a major South...

Numerous laboratory studies report on behaviors inconsistent with rational economic models. How much do these inconsistencies matter in natural settings, when consumers make large, real decisions and have the opportunity to learn from experiences? We report on a field experiment designed to...

Introduction -- Borrowing in the South African Consumer Credit Market -- Raising the Storm of a Free Consumer Credit Market -- The Institutional Framework: Implementing a Consumer Credit Market -- Legislator's Reactions to the Consumer Credit Market Crisis 2012-2014 -- The Model of Rational...