The Library
Messages committing you to reciprocate : a field experiment with “contactless” debtors
Tools
Tools
Tools
Dimitrov, Yasen and Vlaev, Ivo (2022) Messages committing you to reciprocate : a field experiment with “contactless” debtors. International Journal of Applied Behavioral Economics, 11 (1). 83. doi:10.4018/IJABE.308783 ISSN 2160-9802. [ 🗎 Public]. [ (🔓): Yes ].
|
PDF
WRAP-Messages-committing-you-to-reciprocate-a-field-experiment-with-contactless-debtors-Vlaev-2022.pdf - Published Version - Requires a PDF viewer. Available under License Creative Commons Attribution 4.0. Download (378Kb) | Preview |
Official URL: http://dx.doi.org/10.4018/IJABE.308783
Abstract
The article presents the results of a field experiment that uses ‘nudge’ type influences as the content of text messages targeting a specific group of debtors of one of the fast loans company’s operating in Bulgaria. This is a group consisting of so-called ‘contactless’ clients, the ones that stop paying their instalments and cut all the communication with their creditor during the COVID 19 isolation phase. We define the term nudge and also explain the differences between the traditional debt collection process and the behavioural approach to collection. We reveal the impact of nudging sms messages that make debtors feel committed to reciprocate, which is a specific automatic effect on the decision-making process. Those text messages significantly increased the probability of the debtors responding to the invitation for credit restructuring, compared to when the standard message was sent. Therefore, it is important to implement new behavioural approaches in existing debt collection strategies in the context of the new social reality created by the COVID-19 pandemic.
| Item Type: | Journal Article | ||||||
|---|---|---|---|---|---|---|---|
| Subjects: | B Philosophy. Psychology. Religion > BF Psychology H Social Sciences > HB Economic Theory H Social Sciences > HD Industries. Land use. Labor H Social Sciences > HF Commerce H Social Sciences > HG Finance |
||||||
| Divisions: | Faculty of Social Sciences > Warwick Business School | ||||||
| Library of Congress Subject Headings (LCSH): | Collecting of accounts , Economics -- Psychological aspects, Behavior modification , Consumer behavior -- Psychological aspects, Decision making, Choice (Psychology) -- Economic aspects | ||||||
| Journal or Publication Title: | International Journal of Applied Behavioral Economics | ||||||
| Publisher: | IGI Global | ||||||
| ISSN: | 2160-9802 | ||||||
| Official Date: | 6 October 2022 | ||||||
| Dates: |
|
||||||
| Volume: | 11 | ||||||
| Number: | 1 | ||||||
| Number of Pages: | 10 | ||||||
| Article Number: | 83 | ||||||
| DOI: | 10.4018/IJABE.308783 | ||||||
| Status: | Peer Reviewed | ||||||
| Publication Status: | Published | ||||||
| Access rights to Published version: | Open Access (Creative Commons) | ||||||
| Copyright Holders: | Copyright: © 2022 | ||||||
| Date of first compliant deposit: | 12 October 2022 | ||||||
| Date of first compliant Open Access: | 13 October 2022 |
Request changes or add full text files to a record
Repository staff actions (login required)
 |
View Item |
Downloads
Downloads per month over past year
