IDEAS home Printed from https://ideas.repec.org/a/scn/00rbes/y2016i1p75-84.html
   My bibliography  Save this article

Ограниченная Рациональность: Психологический Анализ Поведения Должников // Bounded Rationality: Psychological Analysis Of Debt Behaviour

Author

Listed:
  • A. Smurygina

    (Financial University)

  • M. Gagarina

    (Financial University)

  • А. Смурыгина

    (Финансовый университет)

  • М. Гагарина

    (Финансовый университет)

Abstract

This paper provides the results of an empirical investigation of decision-making in case of multiple debts. 211 respondents took part in the research. Methodological basis of the research are prospect theory and game theory. As the research method were used computer simulation games. In contrast to following the rational pattern of behavior, the results indicate that individuals tend to paysmall loans first and decrease the number of outstanding debts rather than pay debts with the highestinterest rate and decrease the total debt amount. Also 50% of respondents prefer to put money on a savings account with a lower interest rate instead of using it to pay the debts. The findings supportingthe idea of the rationality of individuals is bounded, when they make decision about the order of debt repayment and are in agreement with findings of other authors. В статье представлены результаты эмпирического исследования процесса принятия решений в случае множественных долгов. В исследовании приняло участие 211 респондентов. Методологической основой исследования является теория проспектов и теория игр. Методом исследования послужила компьютерная симуляция игр. В отличие от ожидаемого соответствия поведения рациональному образцу, результаты показали, что индивиды склонны сначала возвращать небольшие долги и уменьшать количество остающихся долгов, чем возвращать долги с высокой процентной ставкой и уменьшать общий объем долга. 50% респондентов предпочли внести средства на сберегательный счет с низкой процентной ставкой, вместо того чтобы использовать средства для погашения долгов. Эти выводы подтверждают мысль о том, чторациональность индивидов является ограниченной, когда они принимают решение об очередности возврата долгов, и согласуются с выводами некоторых других исследователей.

Suggested Citation

  • A. Smurygina & M. Gagarina & А. Смурыгина & М. Гагарина, 2016. "Ограниченная Рациональность: Психологический Анализ Поведения Должников // Bounded Rationality: Psychological Analysis Of Debt Behaviour," Review of Business and Economics Studies // Review of Business and Economics Studies, Финансовый Университет // Financial University, vol. 4(1), pages 75-84.
  • Handle: RePEc:scn:00rbes:y:2016:i:1:p:75-84
    as

    Download full text from publisher

    File URL: https://rbes.fa.ru/jour/article/viewFile/34/34.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Keese, Matthias & Schmitz, Hendrik, 2010. "Broke, Ill, and Obese: The Effect of Household Debt on Health," Ruhr Economic Papers 234, RWI - Leibniz-Institut für Wirtschaftsforschung, Ruhr-University Bochum, TU Dortmund University, University of Duisburg-Essen.
    2. John Gathergood, 2012. "Debt and Depression: Causal Links and Social Norm Effects," Economic Journal, Royal Economic Society, vol. 122(563), pages 1094-1114, September.
    3. Francesco Pattarin & Stefano Cosma, 2012. "Psychological determinants of consumer credit: the role of attitudes," Review of Behavioral Finance, Emerald Group Publishing Limited, vol. 4(2), pages 113-129, November.
    4. Disney, Richard & Gathergood, John, 2013. "Financial literacy and consumer credit portfolios," Journal of Banking & Finance, Elsevier, vol. 37(7), pages 2246-2254.
    5. Burcu Duygan-Bump & Charles Grant, 2008. "Household debt repayment behaviour: what role do institutions play?," Supervisory Research and Analysis Working Papers QAU08-3, Federal Reserve Bank of Boston.
    6. Lea, Stephen E. G. & Webley, Paul & Levine, R. Mark, 1993. "The economic psychology of consumer debt," Journal of Economic Psychology, Elsevier, vol. 14(1), pages 85-119, March.
    7. repec:zbw:rwirep:0234 is not listed on IDEAS
    8. Roland-Lévy, Christine & Pappalardo Boumelki, Fatima-Ezzahra & Guillet, Emilie, 2010. "Representation of the financial crisis: Effect on social representations of savings and credit," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 39(2), pages 142-149, April.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Lynn, Peter & Fumagalli, Laura & Muñoz-Bugarin, Jair, 2021. "The effect of formal debt advice on financial management and knowledge: insights from a new longitudinal study in Britain," ISER Working Paper Series 2021-09, Institute for Social and Economic Research.
    2. Meyll, Tobias & Pauls, Thomas, 2019. "The gender gap in over-indebtedness," Finance Research Letters, Elsevier, vol. 31(C).
    3. Cesar Leandro, Julio & Botelho, Delane, 2022. "Consumer over-indebtedness: A review and future research agenda," Journal of Business Research, Elsevier, vol. 145(C), pages 535-551.
    4. Lynn, Peter & Fumagalli, Laura & Muñoz-Bugarin, Jair, 2021. "Investigating the role of debt advice on borrowers’ well-being. An encouragement study on a new sample of over-indebted people in Britain," ISER Working Paper Series 2021-08, Institute for Social and Economic Research.
    5. M. Gagarina A. & A. Shantseva A. & М. Гагарина А. & А. Шанцева А., 2017. "Социально-психологические особенности и уровень финансовой грамотности должников // Socio-Psychological Peculiarities and Level of Financial Literacy of Russian Debtors," Review of Business and Economics Studies // Review of Business and Economics Studies, Финансовый Университет // Financial University, vol. 5(2), pages 5-22.
    6. Laura Argys & Andrew Friedson & M. Melinda Pitts, 2016. "Killer Debt: The Impact of Debt on Mortality," FRB Atlanta Working Paper 2016-14, Federal Reserve Bank of Atlanta.
    7. Vásquez-Vera, Hugo & Palència, Laia & Magna, Ingrid & Mena, Carlos & Neira, Jaime & Borrell, Carme, 2017. "The threat of home eviction and its effects on health through the equity lens: A systematic review," Social Science & Medicine, Elsevier, vol. 175(C), pages 199-208.
    8. Burlinson, Andrew & Giulietti, Monica & Law, Cherry & Liu, Hui-Hsuan, 2021. "Fuel poverty and financial distress," Energy Economics, Elsevier, vol. 102(C).
    9. Maite Blázquez & Santiago Budría, 2018. "The Effects of Over-indebtedness on Individual Health," Hacienda Pública Española / Review of Public Economics, IEF, vol. 227(4), pages 103-131, December.
    10. Mavropoulos, Antonios & Xiong, Qizhou, 2019. "Housing consumption and macroprudential policies in Europe: An ex ante evaluation," IWH Discussion Papers 17/2018, Halle Institute for Economic Research (IWH), revised 2019.
    11. Wood, Michael, 1998. "Socio-economic status, delay of gratification, and impulse buying," Journal of Economic Psychology, Elsevier, vol. 19(3), pages 295-320, June.
    12. David G. Blanchflower & Andrew E. Clark, 2021. "Children, unhappiness and family finances," Journal of Population Economics, Springer;European Society for Population Economics, vol. 34(2), pages 625-653, April.
    13. repec:diw:diwwpp:dp1702 is not listed on IDEAS
    14. Hofmans, J. & Pepermans, R. & Loix, E., 2009. "Measurement invariance matters: A case made for the ORTOFIN," Journal of Economic Psychology, Elsevier, vol. 30(4), pages 667-674, August.
    15. Mewse, Avril J. & Lea, Stephen E.G. & Wrapson, Wendy, 2010. "First steps out of debt: Attitudes and social identity as predictors of contact by debtors with creditors," Journal of Economic Psychology, Elsevier, vol. 31(6), pages 1021-1034, December.
    16. Liu, Jiankun & He, Xiaobin & Dong, Yinxi, 2024. "Household debt and children’s psychological well-being in China: The mediating role of parent–child relations," Children and Youth Services Review, Elsevier, vol. 157(C).
    17. Naijie Guan & Alessandra Guariglia & Patrick Moore & Fangzhou Xu & Hareth Al-Janabi, 2022. "Financial stress and depression in adults: A systematic review," PLOS ONE, Public Library of Science, vol. 17(2), pages 1-20, February.
    18. Francisco Gomes & Michael Haliassos & Tarun Ramadorai, 2021. "Household Finance," Journal of Economic Literature, American Economic Association, vol. 59(3), pages 919-1000, September.
    19. Volkan Yeniaras & Tugra Nazli Akarsu, 2017. "Religiosity and Life Satisfaction: A Multi-dimensional Approach," Journal of Happiness Studies, Springer, vol. 18(6), pages 1815-1840, December.
    20. Marco FRIGERIO & Cristina OTTAVIANI & Daniela VANDONE, 2018. "A Meta-Analytic Investigation of Consumer Over-Indebtedness: the Role of Impulsivity," Departmental Working Papers 2018-08, Department of Economics, Management and Quantitative Methods at Università degli Studi di Milano.
    21. Beckmann, Elisabeth & Stix, Helmut, 2015. "Foreign currency borrowing and knowledge about exchange rate risk," Journal of Economic Behavior & Organization, Elsevier, vol. 112(C), pages 1-16.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:scn:00rbes:y:2016:i:1:p:75-84. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Алексей Скалабан (email available below). General contact details of provider: http://rbes.fa.ru/ .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.