Determinants of the Consumer Bankruptcy Decision
联合估计消费者申请破产及选择破产章节的决策模型，发现医疗和信用卡债务是破产的主要驱动因素，而房屋所有权对破产决策和章节选择均有重要影响。
Qualitative choice models of consumers' decisions to file for bankruptcy and their choice of bankruptcy chapter are estimated jointly, combining choice‐based sampling techniques with a nested estimation procedure. Medical and credit card debt are found to be the strongest contributors to bankruptcy, with homeownership playing an important role with respect to both the decision to declare bankruptcy and the choice of bankruptcy alternative. The potential effects of legal changes relating to property exemptions and dischargeable debt categories are found to encourage debt repayment through Chapter 13.