The Library
Investor logins and the disposition effect
Tools
Quispe-Torreblanca, E., Gathergood, J., Loewenstein, G. and Stewart, Neil (2024) Investor logins and the disposition effect. Management Science . ISSN 0025-1909. (In Press)
|
PDF
WRAP-investor-logins-disposition-effect-Stewart-2023.pdf - Accepted Version - Requires a PDF viewer. Download (1319Kb) | Preview |
Abstract
We study nudges that turn out to have precise null effects in reducing long-run credit card debt. We test nudges across two field experiments covering 183,441 UK cardholders. Our first experiment studies nudges added to monthly credit card statements. Our second experiment studies letters and email nudges (separate from monthly statements) sent to cardholders who signed up to automatically pay the minimum required payment. In a follow-up survey to our second experiment, we find that 96% of respondents underestimate the time it would take to fully repay a debt if the cardholder made only the minimum required payment. The nudges reduce this confusion, but underestimation remains overwhelmingly common.
Item Type: | Journal Article | ||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Subjects: | H Social Sciences > HG Finance | ||||||||||||||||||
Divisions: | Faculty of Social Sciences > Warwick Business School > Behavioural Science Faculty of Social Sciences > Warwick Business School |
||||||||||||||||||
Library of Congress Subject Headings (LCSH): | Investments -- Psychological aspects, Investments -- Decision making, Finance -- Psychological aspects, Stock exchanges -- Psychological aspects, Decision making -- Economic aspects | ||||||||||||||||||
Journal or Publication Title: | Management Science | ||||||||||||||||||
Publisher: | Institute for Operations Research and the Management Sciences (I N F O R M S) | ||||||||||||||||||
ISSN: | 0025-1909 | ||||||||||||||||||
Official Date: | 2024 | ||||||||||||||||||
Dates: |
|
||||||||||||||||||
Status: | Peer Reviewed | ||||||||||||||||||
Publication Status: | In Press | ||||||||||||||||||
Access rights to Published version: | Restricted or Subscription Access | ||||||||||||||||||
Date of first compliant deposit: | 21 June 2023 | ||||||||||||||||||
Date of first compliant Open Access: | 21 June 2023 | ||||||||||||||||||
RIOXX Funder/Project Grant: |
|
||||||||||||||||||
Related URLs: |
Request changes or add full text files to a record
Repository staff actions (login required)
View Item |
Downloads
Downloads per month over past year