The impact of credit scoring on consumer lending
研究了一家大型汽车金融公司采用自动化信用评分后贷款实践的变化，发现信用评分使每笔贷款利润增加约一千美元，并分析了风险分类带来的筛选高风险借款人和向低风险借款人提供更优惠贷款两种效益。
We study the adoption of automated credit scoring at a large auto finance company and the changes it enabled in lending practices. Credit scoring appears to have increased profits by roughly a thousand dollars per loan. We identify two distinct benefits of risk classification: the ability to screen high‐risk borrowers and the ability to target more generous loans to lower‐risk borrowers. We show that these had effects of similar magnitude. We also document that credit scoring compressed profitability across dealerships, and provide evidence consistent with the view that credit scoring may have substituted for varying qualities of local information.