Why do borrowers choose suboptimal mortgage contracts?: A behavioral economics approach
Mortgage contracts have evolved to include a variety of contract design features whose aim is to address the demand of heterogeneous borrowers. Given that borrowers know best their budget constraints and preferences for risk exposure, the question is why many borrowers fail to maximize their welfare...
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| Format: | Article |
| Language: | English |
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University of Belgrade, Faculty of Law, Belgrade, Serbia
2017-01-01
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| Series: | Anali Pravnog Fakulteta u Beogradu |
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| Online Access: | http://scindeks-clanci.ceon.rs/data/pdf/0003-2565/2017/0003-25651704135O.pdf |