Two steps forward, one step back? Quantifying the pecuniary costs of debt account aversion and the debt snowball.
The interest‐minimizing strategy to paying multiple debts is to make all minimum payments and allocate remaining funds to the debt with the highest interest rate. However, cognitive biases such as debt account aversion and financial advisors encourage borrowers to instead allocate remaining funds to...
| Publicado en: | Southern Economic Journal Vol. 89; no. 3; pp. 830 - 860 |
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| Formato: | Artículo |
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Wiley-Blackwell
Jan2023
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| Acceso en línea: | Ver este registro en EBSCOhost |