Moral Incentives in Credit Card Debt Repayment: Evidence from a Field Experiment
通过印尼一家大型伊斯兰银行客户的实验，研究发现道德呼吁（如“有能力偿还却拖欠是不公正的”）使拖欠率下降4.4个百分点，尤其对高风险客户有效，效果可与直接金钱激励相比。
We study the role of morality in debt repayment, using an experiment with the credit card customers of a large Islamic bank in Indonesia. In our main treatment, clients receive a text message stating that \non-repayment of debts by someone who is able to repay is an injustice." This moral appeal decreases delinquency by 4.4 percentage points from a baseline of 66 percent, and reduces default among customers with the highest ex-ante credit risk. Additional treatments help benchmark the effects against direct financial incentives, and rule out competing explanations, such as reminder effects, priming religion, and provision of new information.