{"id":"https://openalex.org/W3208928103","doi":"https://doi.org/10.1111/ecca.12427","title":"Do Nudges Reduce Borrowing and Consumer Confusion in the Credit Card Market?","display_name":"Do Nudges Reduce Borrowing and Consumer Confusion in the Credit Card Market?","publication_year":2022,"publication_date":"2022-05-03","ids":{"openalex":"https://openalex.org/W3208928103","doi":"https://doi.org/10.1111/ecca.12427","mag":"3208928103"},"language":"en","primary_location":{"id":"doi:10.1111/ecca.12427","doi":"https://doi.org/10.1111/ecca.12427","is_oa":true,"landing_page_url":"https://doi.org/10.1111/ecca.12427","pdf_url":"https://onlinelibrary.wiley.com/doi/pdfdirect/10.1111/ecca.12427","source":{"id":"https://openalex.org/S108845946","display_name":"Economica","issn_l":"0013-0427","issn":["0013-0427","1468-0335"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-a","anvur-class-a","anvur-scientific","cwts-core","erih-plus","fnege-3","jufo-2","norway-2","poland-140","russia-white-list-1","vabb-shw"],"host_organization":"https://openalex.org/P4310320595","host_organization_name":"Wiley","host_organization_lineage":["https://openalex.org/P4310320595"],"host_organization_lineage_names":["Wiley"],"type":"journal"},"license":"cc-by","license_id":"https://openalex.org/licenses/cc-by","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Economica","raw_type":"journal-article"},"volume":null,"type":"article","indexed_in":["crossref"],"open_access":{"is_oa":true,"oa_status":"hybrid","oa_url":"https://onlinelibrary.wiley.com/doi/pdfdirect/10.1111/ecca.12427","any_repository_has_fulltext":true},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5052478974","display_name":"Paul D. Adams","orcid":"https://orcid.org/0000-0002-6759-9527","observed_orcids":["https://orcid.org/0000-0002-6759-9527"]},"institutions":[{"id":"https://openalex.org/I909854389","display_name":"London School of Economics and Political Science","ror":"https://ror.org/0090zs177","country_code":"GB","type":"education","lineage":["https://openalex.org/I124357947","https://openalex.org/I909854389"]}],"countries":["GB"],"is_corresponding":false,"raw_author_name":"Paul Adams","raw_affiliation_strings":["London School of Economics"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"London School of Economics","institution_ids":["https://openalex.org/I909854389"]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5060117673","display_name":"Benedict Guttman\u2010Kenney","orcid":"https://orcid.org/0000-0002-5369-3168","observed_orcids":["https://orcid.org/0000-0002-5369-3168"]},"institutions":[{"id":"https://openalex.org/I40347166","display_name":"University of Chicago","ror":"https://ror.org/024mw5h28","country_code":"US","type":"education","lineage":["https://openalex.org/I40347166"]}],"countries":["US"],"is_corresponding":false,"raw_author_name":"Benedict Guttman\u2010Kenney","raw_affiliation_strings":["University of Chicago Booth School of Business"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"University of Chicago Booth School of Business","institution_ids":["https://openalex.org/I40347166"]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5067657860","display_name":"Lucy Hayes","orcid":null,"observed_orcids":[]},"institutions":[{"id":"https://openalex.org/I1330185648","display_name":"Financial Conduct Authority","ror":"https://ror.org/001dvnn52","country_code":"GB","type":"other","lineage":["https://openalex.org/I1330185648"]}],"countries":["GB"],"is_corresponding":false,"raw_author_name":"Lucy Hayes","raw_affiliation_strings":["Financial Conduct Authority"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Financial Conduct Authority","institution_ids":["https://openalex.org/I1330185648"]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5006846110","display_name":"Stefan Hunt","orcid":null,"observed_orcids":[]},"institutions":[],"countries":[],"is_corresponding":false,"raw_author_name":"Stefan Hunt","raw_affiliation_strings":["Competition and Markets Authority"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Competition and Markets Authority","institution_ids":[]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5058269956","display_name":"David Laibson","orcid":"https://orcid.org/0000-0003-4556-8508","observed_orcids":["https://orcid.org/0000-0003-4556-8508"]},"institutions":[{"id":"https://openalex.org/I1321305853","display_name":"National Bureau of Economic Research","ror":"https://ror.org/04grmx538","country_code":"US","type":"nonprofit","lineage":["https://openalex.org/I1321305853"]},{"id":"https://openalex.org/I136199984","display_name":"Harvard University","ror":"https://ror.org/03vek6s52","country_code":"US","type":"education","lineage":["https://openalex.org/I136199984"]}],"countries":["US"],"is_corresponding":true,"raw_author_name":"David Laibson","raw_affiliation_strings":["Harvard University and NBER"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Harvard University and NBER","institution_ids":["https://openalex.org/I1321305853","https://openalex.org/I136199984"]}]},{"author_position":"last","author":{"id":"https://openalex.org/A5009418620","display_name":"Neil Stewart","orcid":"https://orcid.org/0000-0002-2202-018X","observed_orcids":["https://orcid.org/0000-0002-2202-018X"]},"institutions":[{"id":"https://openalex.org/I39555362","display_name":"University of Warwick","ror":"https://ror.org/01a77tt86","country_code":"GB","type":"education","lineage":["https://openalex.org/I39555362"]}],"countries":["GB"],"is_corresponding":false,"raw_author_name":"Neil Stewart","raw_affiliation_strings":["Warwick Business School"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Warwick Business School","institution_ids":["https://openalex.org/I39555362"]}]}],"institutions":[],"countries_distinct_count":2,"institutions_distinct_count":6,"corresponding_author_ids":["https://openalex.org/A5058269956"],"corresponding_institution_ids":["https://openalex.org/I1321305853","https://openalex.org/I136199984"],"apc_list":{"value":3000,"currency":"USD","value_usd":3000},"apc_paid":{"value":3000,"currency":"USD","value_usd":3000},"fwci":2.3728,"has_fulltext":true,"cited_by_count":21,"citation_normalized_percentile":{"value":0.88936782,"is_in_top_1_percent":false,"is_in_top_10_percent":false},"cited_by_percentile_year":{"min":89,"max":99},"biblio":{"volume":"89","issue":"S1","first_page":null,"last_page":null},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10315","display_name":"Decision-Making and Behavioral Economics","score":0.9643999934196472,"subfield":{"id":"https://openalex.org/subfields/1800","display_name":"General Decision Sciences"},"field":{"id":"https://openalex.org/fields/18","display_name":"Decision Sciences"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T10315","display_name":"Decision-Making and Behavioral Economics","score":0.9643999934196472,"subfield":{"id":"https://openalex.org/subfields/1800","display_name":"General Decision Sciences"},"field":{"id":"https://openalex.org/fields/18","display_name":"Decision Sciences"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10517","display_name":"Financial Literacy, Pension, Retirement Analysis","score":0.03020000085234642,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10646","display_name":"Experimental Behavioral Economics Studies","score":0.0020000000949949026,"subfield":{"id":"https://openalex.org/subfields/3311","display_name":"Safety Research"},"field":{"id":"https://openalex.org/fields/33","display_name":"Social Sciences"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/nudging","display_name":"nudging","score":0.9940000176429749},{"id":"https://openalex.org/keywords/credit-card-debt","display_name":"credit card debt","score":0.9800000190734863},{"id":"https://openalex.org/keywords/consumer-confusion","display_name":"consumer confusion","score":0.8240000009536743},{"id":"https://openalex.org/keywords/minimum-payments","display_name":"minimum payments","score":0.5249999761581421},{"id":"https://openalex.org/keywords/automatic-payment","display_name":"automatic payment","score":0.453000009059906},{"id":"https://openalex.org/keywords/debt-repayment","display_name":"debt repayment","score":0.47099998593330383},{"id":"https://openalex.org/keywords/consumer-behavior","display_name":"consumer behavior","score":0.41100001335144043}],"concepts":[{"id":"https://openalex.org/C8858961","wikidata":"https://www.wikidata.org/wiki/Q7068367","display_name":"Nudge theory","level":2,"score":0.9913858771324158},{"id":"https://openalex.org/C2781140086","wikidata":"https://www.wikidata.org/wiki/Q557945","display_name":"Confusion","level":2,"score":0.7082996368408203},{"id":"https://openalex.org/C2983355114","wikidata":"https://www.wikidata.org/wiki/Q161380","display_name":"Credit card","level":3,"score":0.7009096145629883},{"id":"https://openalex.org/C145097563","wikidata":"https://www.wikidata.org/wiki/Q1148747","display_name":"Payment","level":2,"score":0.6435710191726685},{"id":"https://openalex.org/C120527767","wikidata":"https://www.wikidata.org/wiki/Q3196867","display_name":"Debt","level":2,"score":0.614717960357666},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.48808395862579346},{"id":"https://openalex.org/C162118730","wikidata":"https://www.wikidata.org/wiki/Q1128453","display_name":"Actuarial science","level":1,"score":0.4519854784011841},{"id":"https://openalex.org/C144133560","wikidata":"https://www.wikidata.org/wiki/Q4830453","display_name":"Business","level":0,"score":0.3414042890071869},{"id":"https://openalex.org/C10138342","wikidata":"https://www.wikidata.org/wiki/Q43015","display_name":"Finance","level":1,"score":0.24177685379981995},{"id":"https://openalex.org/C15744967","wikidata":"https://www.wikidata.org/wiki/Q9418","display_name":"Psychology","level":0,"score":0.142278790473938},{"id":"https://openalex.org/C77805123","wikidata":"https://www.wikidata.org/wiki/Q161272","display_name":"Social psychology","level":1,"score":0.0960867702960968},{"id":"https://openalex.org/C11171543","wikidata":"https://www.wikidata.org/wiki/Q41630","display_name":"Psychoanalysis","level":1,"score":0.0}],"mesh":[],"locations_count":5,"locations":[{"id":"doi:10.1111/ecca.12427","doi":"https://doi.org/10.1111/ecca.12427","is_oa":true,"landing_page_url":"https://doi.org/10.1111/ecca.12427","pdf_url":"https://onlinelibrary.wiley.com/doi/pdfdirect/10.1111/ecca.12427","source":{"id":"https://openalex.org/S108845946","display_name":"Economica","issn_l":"0013-0427","issn":["0013-0427","1468-0335"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-a","anvur-class-a","anvur-scientific","cwts-core","erih-plus","fnege-3","jufo-2","norway-2","poland-140","russia-white-list-1","vabb-shw"],"host_organization":"https://openalex.org/P4310320595","host_organization_name":"Wiley","host_organization_lineage":["https://openalex.org/P4310320595"],"host_organization_lineage_names":["Wiley"],"type":"journal"},"license":"cc-by","license_id":"https://openalex.org/licenses/cc-by","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Economica","raw_type":"journal-article"},{"id":"pmh:oai:eprints.lse.ac.uk:115093","doi":null,"is_oa":false,"landing_page_url":"http://eprints.lse.ac.uk/115093/1/Economica_2022_Adams_Do_Nudges_Reduce_Borrowing_and_Consumer_Confusion_in_the_Credit_Card_Market.pdf","pdf_url":"http://eprints.lse.ac.uk/115093/1/Economica_2022_Adams_Do_Nudges_Reduce_Borrowing_and_Consumer_Confusion_in_the_Credit_Card_Market.pdf","source":{"id":"https://openalex.org/S4306401593","display_name":"London School of Economics and Political Science Research Online (London School of Economics and Political Science)","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I909854389","host_organization_name":"London School of Economics and Political Science","host_organization_lineage":["https://openalex.org/I909854389"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"acceptedVersion","is_accepted":true,"is_published":false,"raw_source_name":null,"raw_type":"Article"},{"id":"pmh:oai:researchonline.lse.ac.uk:115093","doi":null,"is_oa":true,"landing_page_url":"https://doi.org/10.1111/ecca.12427","pdf_url":"https://researchonline.lse.ac.uk/id/eprint/115093/1/Economica_2022_Adams_Do_Nudges_Reduce_Borrowing_and_Consumer_Confusion_in_the_Credit_Card_Market.pdf","source":{"id":"https://openalex.org/S4306400050","display_name":"London School of Economics and Political Science Theses Online (London School of Economics and Political Science)","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I909854389","host_organization_name":"London School of Economics and Political Science","host_organization_lineage":["https://openalex.org/I909854389"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"Article"},{"id":"pmh:oai:wrap.warwick.ac.uk:159502","doi":null,"is_oa":true,"landing_page_url":"https://doi.org/10.1111/ecca.12427","pdf_url":"https://wrap.warwick.ac.uk/id/eprint/159502/13/WRAP-do-nudges-reduce-borrowing-consumer-confusion-credit-card-market-oa-Stewart-2022.pdf","source":{"id":"https://openalex.org/S4306400665","display_name":"Warwick Research Archive Portal (University of Warwick)","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I39555362","host_organization_name":"University of Warwick","host_organization_lineage":["https://openalex.org/I39555362"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"Journal Article"},{"id":"pmh:oai:RePEc:ehl:lserod:115093","doi":null,"is_oa":false,"landing_page_url":"http://eprints.lse.ac.uk/115093/","pdf_url":null,"source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"preprint"}],"best_oa_location":{"id":"doi:10.1111/ecca.12427","doi":"https://doi.org/10.1111/ecca.12427","is_oa":true,"landing_page_url":"https://doi.org/10.1111/ecca.12427","pdf_url":"https://onlinelibrary.wiley.com/doi/pdfdirect/10.1111/ecca.12427","source":{"id":"https://openalex.org/S108845946","display_name":"Economica","issn_l":"0013-0427","issn":["0013-0427","1468-0335"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-a","anvur-class-a","anvur-scientific","cwts-core","erih-plus","fnege-3","jufo-2","norway-2","poland-140","russia-white-list-1","vabb-shw"],"host_organization":"https://openalex.org/P4310320595","host_organization_name":"Wiley","host_organization_lineage":["https://openalex.org/P4310320595"],"host_organization_lineage_names":["Wiley"],"type":"journal"},"license":"cc-by","license_id":"https://openalex.org/licenses/cc-by","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Economica","raw_type":"journal-article"},"sustainable_development_goals":[],"study_designs":[],"awards":[{"id":"https://openalex.org/G1737344742","display_name":"The Network for Integrated Behavioural Science - The Science of Consumer Behaviour","funder_award_id":"ES/P008976/1","funder_id":"https://openalex.org/F4320334630","funder_display_name":"Economic and Social Research Council"},{"id":"https://openalex.org/G2200362534","display_name":null,"funder_award_id":"ES/N018192/1","funder_id":"https://openalex.org/F4320319993","funder_display_name":"Leverhulme Trust"},{"id":"https://openalex.org/G2239579166","display_name":"Real-time evaluation of the effects of Covid-19 and policy responses on consumer and small business finances","funder_award_id":"ES/V004867/1","funder_id":"https://openalex.org/F4320334630","funder_display_name":"Economic and Social Research Council"},{"id":"https://openalex.org/G3418476993","display_name":"Accumulating to choose, but accumulating what? Drift diffusion modelling of economic preference","funder_award_id":"ES/N018192/1","funder_id":"https://openalex.org/F4320334630","funder_display_name":"Economic and Social Research Council"},{"id":"https://openalex.org/G3678697519","display_name":null,"funder_award_id":"RP2012-V022","funder_id":"https://openalex.org/F4320319993","funder_display_name":"Leverhulme Trust"},{"id":"https://openalex.org/G4127851218","display_name":"Network for Integrated Behavioural Science","funder_award_id":"ES/K002201/1","funder_id":"https://openalex.org/F4320334630","funder_display_name":"Economic and Social Research Council"},{"id":"https://openalex.org/G6128599341","display_name":null,"funder_award_id":"RP2012-V-022","funder_id":"https://openalex.org/F4320334630","funder_display_name":"Economic and Social Research Council"},{"id":"https://openalex.org/G7050801856","display_name":null,"funder_award_id":"K002201","funder_id":"https://openalex.org/F4320334630","funder_display_name":"Economic and Social Research Council"},{"id":"https://openalex.org/G7342147324","display_name":null,"funder_award_id":"ES/K002201/1","funder_id":"https://openalex.org/F4320319993","funder_display_name":"Leverhulme Trust"},{"id":"https://openalex.org/G8579886662","display_name":null,"funder_award_id":"ES/K002201/","funder_id":"https://openalex.org/F4320334630","funder_display_name":"Economic and Social Research Council"}],"funders":[{"id":"https://openalex.org/F4320309622","display_name":"Harvard University","ror":"https://ror.org/03vek6s52"},{"id":"https://openalex.org/F4320311939","display_name":"Pershing Square Foundation","ror":"https://ror.org/04tce9s05"},{"id":"https://openalex.org/F4320319993","display_name":"Leverhulme Trust","ror":"https://ror.org/012mzw131"},{"id":"https://openalex.org/F4320334630","display_name":"Economic and Social Research Council","ror":"https://ror.org/03n0ht308"}],"has_content":{"pdf":true,"grobid_xml":true},"content_urls":{"pdf":"https://content.openalex.org/works/W3208928103.pdf","grobid_xml":"https://content.openalex.org/works/W3208928103.grobid-xml"},"referenced_works_count":43,"referenced_works":["https://openalex.org/W348963960","https://openalex.org/W1481908410","https://openalex.org/W1507777820","https://openalex.org/W1568581649","https://openalex.org/W1973979681","https://openalex.org/W1975296756","https://openalex.org/W1978096700","https://openalex.org/W1991960506","https://openalex.org/W2073400560","https://openalex.org/W2097436361","https://openalex.org/W2117694682","https://openalex.org/W2118052532","https://openalex.org/W2120868938","https://openalex.org/W2145542433","https://openalex.org/W2146749751","https://openalex.org/W2153158718","https://openalex.org/W2161498332","https://openalex.org/W2166096872","https://openalex.org/W2167209551","https://openalex.org/W2168485380","https://openalex.org/W2171300730","https://openalex.org/W2611575344","https://openalex.org/W2619864214","https://openalex.org/W2624183453","https://openalex.org/W2736629042","https://openalex.org/W2736848882","https://openalex.org/W2742773638","https://openalex.org/W2886404046","https://openalex.org/W2926919747","https://openalex.org/W3091274080","https://openalex.org/W3121638228","https://openalex.org/W3121705954","https://openalex.org/W3122903754","https://openalex.org/W3123070019","https://openalex.org/W3124088090","https://openalex.org/W3124546125","https://openalex.org/W3125685058","https://openalex.org/W3126013923","https://openalex.org/W3137915113","https://openalex.org/W3161555692","https://openalex.org/W3196308402","https://openalex.org/W4200346131","https://openalex.org/W4293241000"],"related_works":["https://openalex.org/W4415659155","https://openalex.org/W7117709857","https://openalex.org/W2201933345","https://openalex.org/W2209663251","https://openalex.org/W1978096700","https://openalex.org/W4377301034","https://openalex.org/W3011777357","https://openalex.org/W3103714683","https://openalex.org/W3086410377","https://openalex.org/W3141201778"],"abstract_inverted_index":{"We":[0,17],"study":[1],"nudges":[2,19,32,46,99],"that":[3,74],"turn":[4],"out":[5],"to":[6,34,52,57,68,84],"have":[7],"precise":[8],"null":[9],"effects":[10],"in":[11],"reducing":[12],"long\u2010run":[13],"credit":[14,36],"card":[15,37],"debt.":[16],"test":[18],"across":[20],"two":[21],"field":[22],"experiments":[23],"covering":[24],"183,441":[25],"UK":[26],"cardholders.":[27],"Our":[28,39],"first":[29],"experiment":[30,41],"studies":[31,42],"added":[33],"monthly":[35,49],"statements.":[38],"second":[40,70],"letters":[43],"and":[44],"email":[45],"(separate":[47],"from":[48],"statements)":[50],"sent":[51],"cardholders":[53],"who":[54],"signed":[55],"up":[56],"automatically":[58],"pay":[59],"the":[60,79,90,94],"minimum":[61,95],"required":[62,96],"payment.":[63,97],"In":[64],"a":[65,87],"follow\u2010up":[66],"survey":[67],"our":[69],"experiment,":[71],"we":[72],"find":[73],"96%":[75],"of":[76],"respondents":[77],"underestimate":[78],"time":[80],"it":[81],"would":[82],"take":[83],"fully":[85],"repay":[86],"debt":[88],"if":[89],"cardholder":[91],"made":[92],"only":[93],"The":[98],"reduce":[100],"this":[101],"confusion,":[102],"but":[103],"underestimation":[104],"remains":[105],"overwhelmingly":[106],"common.":[107]},"counts_by_year":[{"year":2026,"cited_by_count":6},{"year":2025,"cited_by_count":1},{"year":2024,"cited_by_count":5},{"year":2023,"cited_by_count":8},{"year":2015,"cited_by_count":1}],"updated_date":"2026-11-03T10:50:19.383937","created_date":"2021-11-08T00:00:00"}
