乐观的起源:玻利维亚小额信贷客户的实地实验

IF 2 3区经济学 Q1 AREA STUDIES

Economic Development and Cultural Change Pub Date : 2022-01-25 DOI:10.1086/718237

F. Cecchi, Elske Voermans, R. Lensink

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The Origins of Optimism: a Lab-in-the-Field Experiment among Microfinance Clients in Bolivia

People often underestimate the time it takes to complete a task. We investigate the causes of such overoptimism through a lab-in-the-field experiment with microfinance clients in Bolivia testing the contribution of uncertainty, personality, and financial incentives. Our results are consistent with theories of time-inconsistent beliefs postulating the existence of anticipatory benefits, where the incentives at stake shape optimism. Correlational evidence also suggests that optimists have greater real-life outstanding debt. We propose that time preference models be adjusted to include anticipatory utility and that the role of repayment incentives in shaping overoptimistic expectations of microfinance clients should not be overlooked.

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来源期刊

Economic Development and Cultural Change Multiple-

CiteScore

3.70

自引率

5.00%

发文量

期刊介绍： Economic Development and Cultural Change (EDCC) is an economic journal publishing studies that use modern theoretical and empirical approaches to examine both the determinants and the effects of various dimensions of economic development and cultural change. EDCC’s focus is on empirical papers with analytic underpinnings, concentrating on micro-level evidence, that use appropriate data to test theoretical models and explore policy impacts related to a broad range of topics relevant to economic development.