Prosocial Compliance in P2P Lending: A Natural Field Experiment
通过自然田野实验，研究发现发送传达放贷人积极期望的短信提醒能显著提高P2P借贷平台的贷款偿还率，而强调违约后果的提醒则效果不持久。
We implement behavioral mechanisms in a natural field experiment to increase loan repayment rates on a peer-to-peer (P2P) lending website. The results show that text message reminders that convey lenders’ positive expectations considerably increase the likelihood that borrowers will repay their loans, whereas reminders emphasizing the adverse consequences of failure to repay loans do not have enduring effects. Our experiment results in an increase in loan repayments in the sample period. In addition, our reminders are cost-free to implement, showing the potential importance of such interventions in enhancing prosocial compliance in P2P lending. This paper was accepted by John List, behavioral economics.