文章基本信息

标题：A COMPARISON OF OPTION-THEORETIC AND CHOICE-THEORETIC APPROACHES TO EVALUATING ALTERNATIVE FINANCIAL TECHNOLOGIES FOR MORTGAGE LOANS TO LOW-INCOME HOUSEHOLDS
本地全文：下载
作者：Hartarska, Valentina M. ; Gonzalez-Vega, Claudio
期刊名称：Journal of Food Distribution Research
印刷版ISSN：0047-245X
出版年度：2002
期号：SUPPL
出版社：Food Distribution Research Society
摘要：This paper evaluates the efficacy of two alternative lending technologies - the traditional banking technology and a cash flow based counseling program - by using competing risks (option-based) and choice theoretic approaches. We find evidence to support the notion that low-income borrowers have some degree of financial sophistication, as they prepay the mortgage loan by considering the current value of the call option. The evidence also suggests that borrower heterogeneity and insolvency affect mortgage termination.
关键词：credit counseling;competing risks;low-income mortgage loans.