Mortgage Choice as a Natural Field Experiment on Choice under Risk

Material TypeArticleLanguageEnglish
TitleMortgage Choice as a Natural Field Experiment on Choice under Risk Author(S)PHILOMENA M BACON (Author)
Abstract  Data on approximately 280,000 borrowers from the UK Survey of Mortgage Lenders are used to model choices between variable and fixed rate mortgages. The choice is assumed to depend on three factors: risk attitude, interest-rate expectations, and individual discount rate. The ordered probit model is used for estimation ...Paginationp1401–1426
SubjectEconomicsDescriptorsEconomics
Journal TitleJournal of Money, Credit, and Banking  
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