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Kauppakorkeakoulu | Taloustieteen laitos | Kansantaloustiede | 2013
Tutkielman numero: 13323
Price formation of consumer loans: A theoretical view of Finnish consumer credit market
Tekijä: Niiranen, Juho
Otsikko: Price formation of consumer loans: A theoretical view of Finnish consumer credit market
Vuosi: 2013  Kieli: eng
Laitos: Taloustieteen laitos
Aine: Kansantaloustiede
Asiasanat: kansantaloustiede; economics; hinnat; prices; hinnoittelu; pricing; lainat; loans; kuluttajat; consumers; luotto; credit; markkinat; markets; Suomi; Finland
Sivumäärä: 53
Kokoteksti:
» hse_ethesis_13323.pdf pdf  koko: 840 KB (859898)
Avainsanat: informational asymmetry; adverse selection; moral hazard; consumer loan; consumer credit; credit scoring; loan pricing
Tiivistelmä:
The purpose of this study is to present an economic theory behind the informational asymmetry in a consumer credit market and show how it affects the formation of the loan price. The study presents how lenders can use the available information for better loan decisions and how it affects the interest rates that borrowers observe. The main tools against information asymmetry are the information sharing platforms and the credit scoring models which are presented closely. The theoretical framework follows the model of Jaffee and Russell (1976) which is modified further to fit the different information levels that lenders can acquire about borrowers. Based on this theoretical framework the study presents the Finnish consumer credit market and discusses of the impact that the informational asymmetry has on the detected prices and on the market structure.
Verkkojulkaisut ovat tekijänoikeuden alaista aineistoa. Teokset ovat vapaasti luettavissa ja tulostettavissa henkilökohtaista käyttöä varten. Aineiston käyttö kaupallisiin tarkoituksiin on kielletty.