Federal Reserve Bank of Philadelphia Consumer Finance Institute: 'Consumer Credit With Over-Optimistic Borrowers'
January 24, 2026
January 24, 2026
PHILADELPHIA, Pennsylvania, Jan. 24 (TNSLrpt) -- The Federal Reserve Bank of Philadelphia's Consumer Finance Institute issued a consumer credit working paper in Jan. 2026 by Florian Exler, Igor Livshits, James MacGee and Michele Tertilt entitled "Consumer Credit with Over-Optimistic Borrowers."
Here is the abstract:
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Do cognitive biases call for regulation to limit the use of credit? We incorporate over-optimistic and rational borrowers . . .
Here is the abstract:
* * *
Do cognitive biases call for regulation to limit the use of credit? We incorporate over-optimistic and rational borrowers . . .