Precommitments for Financial Self-Control? Micro Evidence from the 2003 Korean Credit Crisis
分析了2003年韩国信用卡危机前后一家大型信用卡公司客户的高频微观面板数据，发现客户普遍存在难以用标准经济学解释的预先承诺行为，如自愿降低信用额度、拒绝免息分期贷款等。
We analyze high-frequency micro panel data on customers of a major Korean credit card company before and after the 2003 Korean credit crisis and find evidence of pervasive precommitment behavior that is difficult to explain using standard economic theories: (1) customers voluntarily reduce their credit card borrowing limits without any compensation, (2) customers turn down interest-free installment loan offers with high probability, and (3) of the small fraction of customers who do accept interest-free loan offers, most precommit to pay off the loan over a shorter term than the maximum allowed term under the offer.