Unshrouding: Evidence from Bank Overdrafts in Turkey
研究发现，银行向免费支票账户持有者宣传透支折扣反而减少了透支使用，而仅提及透支可用性则增加了使用，这支持了消费者低估透支成本、企业均衡中隐藏价格的行为模型。
ABSTRACT Lower prices produce higher demand… or do they? A bank's direct marketing to holders of “free” checking accounts shows that a large discount on 60% APR overdrafts reduces overdraft usage, especially when bundled with a discount on debit card or autodebit transactions. In contrast, messages mentioning overdraft availability without mentioning price increase usage. Neither change persists long after the messages stop. These results do not square easily with classical models of consumer choice and firm competition. Instead, they support behavioral models where consumers underestimate and are inattentive to overdraft costs, and firms respond by shrouding overdraft prices in equilibrium.