How do individuals repay their debt?: the balance-matching heuristic

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How do individuals repay their debt?: the balance-matching heuristic

We study how individuals repay their debt using linked data on multiple credit cards. Repayments are not allocated to the higher interest rate card, which would minimize the cost of borrowing. Moreover, the degree of misallocation is invariant to the economic stakes, which is inconsistent with optim...

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Bibliographic Details
Main Authors:	Gathergood, John, Mahoney, Neale, Stewart, Neil, Weber, Jörg
Format:	Article
Language:	English
Published:	American Economic Association 2018
Online Access:	https://eprints.nottingham.ac.uk/54171/

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