Replication data for: Referrals: Peer Screening and Enforcement in a Consumer Credit Field Experiment
Principal Investigator(s): View help for Principal Investigator(s) Gharad Bryan; Dean Karlan; Jonathan Zinman
Version: View help for Version V1
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Project Citation:
Bryan, Gharad, Karlan, Dean, and Zinman, Jonathan. Replication data for: Referrals: Peer Screening and Enforcement in a Consumer Credit Field Experiment. Nashville, TN: American Economic Association [publisher], 2015. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2019-12-07. https://doi.org/10.3886/E116433V1
Project Description
Summary:
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Empirical evidence on peer intermediation lags behind both theory and practice in which lenders use peers to mitigate adverse selection and moral hazard. Using a referral incentive under individual liability, we develop a two-stage field experiment that permits separate identification of peer screening and enforcement. Our key contribution is to allow for borrower heterogeneity in both ex ante repayment type and ex post susceptibility to social pressure. Our method allows identification of selection on repayment likelihood, selection on susceptibility to social pressure, and loan enforcement. Implementing our method in South Africa we find no evidence of screening but large enforcement effects. (JEL D14, D82, G21, O12, O16)
Scope of Project
JEL Classification:
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D14 Household Saving; Personal Finance
D82 Asymmetric and Private Information; Mechanism Design
G21 Banks; Depository Institutions; Micro Finance Institutions; Mortgages
O12 Microeconomic Analyses of Economic Development
O16 Economic Development: Financial Markets; Saving and Capital Investment; Corporate Finance and Governance
D14 Household Saving; Personal Finance
D82 Asymmetric and Private Information; Mechanism Design
G21 Banks; Depository Institutions; Micro Finance Institutions; Mortgages
O12 Microeconomic Analyses of Economic Development
O16 Economic Development: Financial Markets; Saving and Capital Investment; Corporate Finance and Governance
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