Replication data for: Are Information Disclosures Effective? Evidence from the Credit Card Market

Principal Investigator(s): View help for Principal Investigator(s) Enrique Seira; Alan Elizondo; Eduardo Laguna-Müggenburg

Version: View help for Version V1

Name	File Type	Size	Last Modified
20140404_dofiles			10/26/2021 03:28:PM
LICENSE.txt	text/plain	14.6 KB	12/07/2019 11:16:AM

Project Citation:

Seira, Enrique, Elizondo, Alan, and Laguna-Müggenburg, Eduardo. Replication data for: Are Information Disclosures Effective? Evidence from the Credit Card Market. Nashville, TN: American Economic Association [publisher], 2017. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2019-12-07. https://doi.org/10.3886/E116510V1

Project Description

Summary: Consumer protection in financial markets in the form of information disclosure is high on government agendas, even though there is little evidence of its effectiveness. We implement a randomized control trial in the credit card market for a large population of indebted cardholders and measure the impact of Truth-in-Lending-Act-type disclosures, de-biasing warning messages and social comparison information on default, indebtedness, account closings, and credit scores. We conduct extensive external validity exercises in several banks, with different disclosures, and with actual policy mandates. We find that providing salient interest rate disclosures had no effects, while comparisons and de-biasing messages had only modest effects at best.

Scope of Project

Subject Terms: Credit Card; Randomized Control Trial; Nudges

JEL Classification:
      D14 Household Saving; Personal Finance
      D83 Search; Learning; Information and Knowledge; Communication; Belief; Unawareness
      G21 Banks; Depository Institutions; Micro Finance Institutions; Mortgages
      G28 Financial Institutions and Services: Government Policy and Regulation
      O16 Economic Development: Financial Markets; Saving and Capital Investment; Corporate Finance and Governance

Geographic Coverage: Mexico

Methodology

Data Source: The data used for this paper is privately owned by out parnter bank and we are not allowed to make it public.

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Published Versions

V1 [2019-12-07]

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DDI 2.5

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