Incorporating a discrete choice experiment into fieldwork interviews to improve understanding of household decisions to purchase high-priced? credit / Sean Hubbard, Simon Fass.

Format:

Book

Author/Creator:

Hubbard, Sean, author.

Fass, Simon M., author.

Series:

SAGE Research Methods. Cases.

SAGE Research Methods. Cases

Language:

English

Subjects (All):

Consumer credit--Social aspects--Case studies.

Consumer credit.

Credit cards--Social aspects--Case studies.

Credit cards.

Physical Description:

1 online resource : illustrations ; cm.

Place of Publication:

London : SAGE Publications Ltd, 2019.

Summary:

In 2016, our review of the research literature on consumer credit revealed what looked like three crucial shortcomings. The literature did not examine the values that borrowers ascribed to tangible and intangible characteristics of prospective loans (e.g., interest rate, approval speed, trust in lender). It did not assess context, such as urgencies, that might affect these attribute valuations at the decision moment, including price. It did not account for the value of benefits that borrowers expect from use of loans. Because the literature seemed to disregard non-price factors, it sometimes concluded that people willing to pay dearly are irrational, ignorant, or impatient. Without evidence on decision factors and calculations involved, such attributions struck us as premature. Accordingly, we set out to discover more about the factors consumers take into account when deciding between loan types, the preferences they exhibit with respect to these factors, and how these preferences influence choices of loan type. This case study describes our process of discovery, still underway, involving acquisition of data from interviews with individuals who obtain high-priced loans, largely from unregulated lenders (i.e., loan sharks), and during interviews, from engaging them in a discrete choice experiment designed to tease out the logic underlying their borrowing decisions.

Notes:

Includes bibliographical references and index.

Description based on XML content.

ISBN:

1-5264-7303-8

9781526473035

OCLC:

1081220939