Blood Money: Selling Plasma to Avoid High-Interest Loans
研究美国血浆行业增长中卖家的动机与结果，发现年轻、流动性受限的卖家通过卖血浆替代高利贷，使附近发薪日贷款需求下降13%以上，同时商店客流量增加4%以上。
Abstract Little is known about the motivations and outcomes of sellers in remunerated markets for human materials. We exploit dramatic growth in the U.S. blood plasma industry to shed light on the sellers of plasma. Sellers tend to be young and liquidity-constrained with low incomes and limited access to traditional credit. Plasma centers absorb demand for nontraditional credit. After a plasma center opens nearby, demand for payday loans falls by over 13% among young borrowers. Meanwhile, foot traffic increases by over 4% at nearby stores, suggesting that constrained households use plasma markets to smooth consumption without appealing to high-cost debt.