投标
透视图(图形)
解释水平理论
点对点
背景(考古学)
社会距离
投资(军事)
利率
心理学
投资决策
社会影响力
业务
社会心理学
营销
行为经济学
计算机科学
政治学
财务
地理
医学
疾病
传染病(医学专业)
2019年冠状病毒病(COVID-19)
病理
考古
分布式计算
法学
政治
人工智能
作者
Wu Yong,Weiling Ke,Yuelei Li,Zhijie Lin,Yong Tan
标识
DOI:10.1287/isre.2020.0428
摘要
This study explores the decision-making process in online peer-to-peer (P2P) lending, a rapidly growing source of fixed income for investors. We examine how lenders’ bidding amounts are influenced by interest rates and psychological distance, which is determined by the borrower’s demographic attributes. Our findings, based on data from a popular Chinese P2P lending platform, reveal that geographic distance decreases bidding amounts, indicating a home bias effect. Conversely, social distance increases bidding amounts, suggesting a social distance effect. Interestingly, both types of psychological distance amplify the positive impact of interest rates on bidding amounts. Four controlled experiments further validate these relationships. This research not only contributes to the theoretical understanding of P2P lending but also offers practical insights for policymaking in the high-risk financial context.
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