Prosocial Compliance in P2P Lending: A Natural Field Experiment

被引：37
作者：
Du, Ninghua [1 ,2 ]
Li, Lingfang [3 ]
Lu, Tian [3 ,4 ]
Lu, Xianghua [3 ]
机构：
[1] Shanghai Univ Finance & Econ, Key Lab Math Econ, Shanghai 200433, Peoples R China
[2] Shanghai Univ Finance & Econ, Sch Econ, Shanghai 200433, Peoples R China
[3] Fudan Univ, Sch Management, Shanghai 200433, Peoples R China
[4] Carnegie Mellon Univ, Heinz Coll, Pittsburgh, PA 15213 USA
来源：
MANAGEMENT SCIENCE | 2020年 / 66卷 / 01期
基金：
中国国家自然科学基金;
关键词：
natural field experiment; P2P lending; prosocial compliance; OTHER-REGARDING BEHAVIOR; SOCIAL DISTANCE; PEER; PREFERENCES; INFORMATION; COOPERATION; PROMISES; CREDIT; AUDIT; TRUST;
D O I：
10.1287/mnsc.2018.3216
中图分类号：
C93 [管理学];
学科分类号：
12 ; 1201 ; 1202 ; 120202 ;
摘要：
We implement behavioral mechanisms in a natural field experiment to increase loan repayment rates on a peer-to-peer (P2P) lending website. The results show that text message reminders that convey lenders' positive expectations considerably increase the likelihood that borrowers will repay their loans, whereas reminders emphasizing the adverse consequences of failure to repay loans do not have enduring effects. Our experiment results in an increase in loan repayments in the sample period. In addition, our reminders are cost-free to implement, showing the potential importance of such interventions in enhancing prosocial compliance in P2P lending.
引用
收藏
页码：315 / 333
页数：19
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