Replication data for: Are Information Disclosures Effective? Evidence from the Credit Card Market
Principal Investigator(s): View help for Principal Investigator(s) Enrique Seira; Alan Elizondo; Eduardo Laguna-Müggenburg
Version: View help for Version V1
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| 20140404_dofiles | 10/26/2021 03:28:PM | ||
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text/plain | 14.6 KB | 12/07/2019 11:16:AM |
Project Citation:
Seira, Enrique, Elizondo, Alan, and Laguna-Müggenburg, Eduardo. Replication data for: Are Information Disclosures Effective? Evidence from the Credit Card Market. Nashville, TN: American Economic Association [publisher], 2017. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2019-12-07. https://doi.org/10.3886/E116510V1
Project Description
Summary:
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Consumer protection in financial markets in the form of information disclosure is high on government agendas, even though there is little evidence of its effectiveness. We implement a randomized control trial in the credit card market for a large population of indebted cardholders and measure the impact of Truth-in-Lending-Act-type disclosures, de-biasing warning messages and social comparison information on default, indebtedness, account closings, and credit scores. We conduct extensive external validity exercises in several banks, with different disclosures, and with actual policy mandates. We find that providing salient interest rate disclosures had no effects, while comparisons and de-biasing messages had only modest effects at best.
Scope of Project
Subject Terms:
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Credit Card;
Randomized Control Trial;
Nudges
JEL Classification:
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D14 Household Saving; Personal Finance
D83 Search; Learning; Information and Knowledge; Communication; Belief; Unawareness
G21 Banks; Depository Institutions; Micro Finance Institutions; Mortgages
G28 Financial Institutions and Services: Government Policy and Regulation
O16 Economic Development: Financial Markets; Saving and Capital Investment; Corporate Finance and Governance
D14 Household Saving; Personal Finance
D83 Search; Learning; Information and Knowledge; Communication; Belief; Unawareness
G21 Banks; Depository Institutions; Micro Finance Institutions; Mortgages
G28 Financial Institutions and Services: Government Policy and Regulation
O16 Economic Development: Financial Markets; Saving and Capital Investment; Corporate Finance and Governance
Geographic Coverage:
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Mexico
Methodology
Data Source:
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The data used for this paper is privately owned by out parnter bank and we are not allowed to make it public.
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