Arbeitspapier
Are information disclosure mandates effective? Evidence from the credit card market
Consumer protection in financial markets in the form of information disclosure is high on governments agendas, despite the fact that the empirical evidence on its effectiveness is scarce. To measure the impact of Truth-in-Lending-Act-type disclosures on default and indebtedness, as well as of debiasing warning messages and social comparison information, we implement a randomized control trial in the credit card market for a large population of indebted cardholders. We find that providing salient interest rate disclosures has no effect, while social comparisons and debiasing messages have only a odest effect. Other types of disclosures discussed in the paper could have larger effects.
- Language
-
Englisch
- Bibliographic citation
-
Series: Working Papers ; No. 2014-18
- Classification
-
Wirtschaft
Consumer Economics: Empirical Analysis
Household Saving; Personal Finance
Search; Learning; Information and Knowledge; Communication; Belief; Unawareness
Banks; Depository Institutions; Micro Finance Institutions; Mortgages
Financial Institutions and Services: Government Policy and Regulation
- Subject
-
credit cards
information disclosure
truth in lending
Mexico
- Event
-
Geistige Schöpfung
- (who)
-
Elizondo, Alan
Seira, Enrique
- Event
-
Veröffentlichung
- (who)
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Banco de México
- (where)
-
Ciudad de México
- (when)
-
2014
- Handle
- Last update
-
10.03.2025, 11:43 AM CET
Data provider
This object is provided by:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Arbeitspapier
Associated
- Elizondo, Alan
- Seira, Enrique
- Banco de México
Time of origin
- 2014
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