{"id":"https://openalex.org/W3033458159","doi":"https://doi.org/10.3390/sym12060935","title":"Accessing Information Asymmetry in Peer-to-Peer Lending by Default Prediction from Investors\u2019 Perspective","display_name":"Accessing Information Asymmetry in Peer-to-Peer Lending by Default Prediction from Investors\u2019 Perspective","publication_year":2020,"publication_date":"2020-06-03","ids":{"openalex":"https://openalex.org/W3033458159","doi":"https://doi.org/10.3390/sym12060935","mag":"3033458159"},"language":"en","primary_location":{"id":"doi:10.3390/sym12060935","is_oa":true,"landing_page_url":"https://doi.org/10.3390/sym12060935","pdf_url":"https://www.mdpi.com/2073-8994/12/6/935/pdf?version=1592812770","source":{"id":"https://openalex.org/S190787756","display_name":"Symmetry","issn_l":"2073-8994","issn":["2073-8994"],"is_oa":true,"is_in_doaj":false,"is_core":true,"host_organization":"https://openalex.org/P4310310987","host_organization_name":"Multidisciplinary Digital Publishing Institute","host_organization_lineage":["https://openalex.org/P4310310987"],"host_organization_lineage_names":["Multidisciplinary Digital Publishing Institute"],"type":"journal"},"license":"cc-by","license_id":"https://openalex.org/licenses/cc-by","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Symmetry","raw_type":"journal-article"},"type":"article","indexed_in":["crossref","doaj"],"open_access":{"is_oa":true,"oa_status":"gold","oa_url":"https://www.mdpi.com/2073-8994/12/6/935/pdf?version=1592812770","any_repository_has_fulltext":true},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5102733798","display_name":"Xinyuan Wei","orcid":"https://orcid.org/0000-0002-8112-080X"},"institutions":[{"id":"https://openalex.org/I27357992","display_name":"Dalian University of Technology","ror":"https://ror.org/023hj5876","country_code":"CN","type":"education","lineage":["https://openalex.org/I27357992"]}],"countries":["CN"],"is_corresponding":true,"raw_author_name":"Xinyuan Wei","raw_affiliation_strings":["School of Mathematical Sciences, Dalian University of Technology, Dalian 116024, China"],"affiliations":[{"raw_affiliation_string":"School of Mathematical Sciences, Dalian University of Technology, Dalian 116024, China","institution_ids":["https://openalex.org/I27357992"]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5070938702","display_name":"Bo Yu","orcid":"https://orcid.org/0000-0002-0898-8493"},"institutions":[{"id":"https://openalex.org/I27357992","display_name":"Dalian University of Technology","ror":"https://ror.org/023hj5876","country_code":"CN","type":"education","lineage":["https://openalex.org/I27357992"]}],"countries":["CN"],"is_corresponding":false,"raw_author_name":"Bo Yu","raw_affiliation_strings":["School of Mathematical Sciences, Dalian University of Technology, Dalian 116024, China"],"affiliations":[{"raw_affiliation_string":"School of Mathematical Sciences, Dalian University of Technology, Dalian 116024, China","institution_ids":["https://openalex.org/I27357992"]}]},{"author_position":"last","author":{"id":"https://openalex.org/A5100463095","display_name":"Yao Liu","orcid":"https://orcid.org/0000-0003-2499-9624"},"institutions":[{"id":"https://openalex.org/I5388228","display_name":"University of Rochester","ror":"https://ror.org/022kthw22","country_code":"US","type":"education","lineage":["https://openalex.org/I5388228"]}],"countries":["US"],"is_corresponding":false,"raw_author_name":"Yao Liu","raw_affiliation_strings":["Simon Business School, University of Rochester, Rochester, NY 14627, USA"],"affiliations":[{"raw_affiliation_string":"Simon Business School, University of Rochester, Rochester, NY 14627, USA","institution_ids":["https://openalex.org/I5388228"]}]}],"institutions":[],"countries_distinct_count":2,"institutions_distinct_count":3,"corresponding_author_ids":["https://openalex.org/A5102733798"],"corresponding_institution_ids":["https://openalex.org/I27357992"],"apc_list":{"value":2000,"currency":"CHF","value_usd":2165},"apc_paid":{"value":2000,"currency":"CHF","value_usd":2165},"fwci":1.0362,"has_fulltext":false,"cited_by_count":4,"citation_normalized_percentile":{"value":0.80552079,"is_in_top_1_percent":false,"is_in_top_10_percent":false},"cited_by_percentile_year":{"min":90,"max":97},"biblio":{"volume":"12","issue":"6","first_page":"935","last_page":"935"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T11995","display_name":"FinTech, Crowdfunding, Digital Finance","score":0.9998000264167786,"subfield":{"id":"https://openalex.org/subfields/1404","display_name":"Management Information Systems"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T11995","display_name":"FinTech, Crowdfunding, Digital Finance","score":0.9998000264167786,"subfield":{"id":"https://openalex.org/subfields/1404","display_name":"Management Information Systems"},"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/T11653","display_name":"Financial Distress and Bankruptcy Prediction","score":0.9936000108718872,"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/T10987","display_name":"Microfinance and Financial Inclusion","score":0.9930999875068665,"subfield":{"id":"https://openalex.org/subfields/2002","display_name":"Economics and Econometrics"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/computer-science","display_name":"Computer science","score":0.5016798973083496},{"id":"https://openalex.org/keywords/information-asymmetry","display_name":"Information asymmetry","score":0.46251121163368225},{"id":"https://openalex.org/keywords/reputation","display_name":"Reputation","score":0.46124356985092163},{"id":"https://openalex.org/keywords/actuarial-science","display_name":"Actuarial science","score":0.45011812448501587},{"id":"https://openalex.org/keywords/econometrics","display_name":"Econometrics","score":0.4440397024154663},{"id":"https://openalex.org/keywords/moral-hazard","display_name":"Moral hazard","score":0.42389440536499023},{"id":"https://openalex.org/keywords/loan","display_name":"Loan","score":0.41178038716316223},{"id":"https://openalex.org/keywords/business","display_name":"Business","score":0.3493686318397522},{"id":"https://openalex.org/keywords/finance","display_name":"Finance","score":0.2700280547142029},{"id":"https://openalex.org/keywords/economics","display_name":"Economics","score":0.2690183222293854},{"id":"https://openalex.org/keywords/incentive","display_name":"Incentive","score":0.2344152331352234},{"id":"https://openalex.org/keywords/microeconomics","display_name":"Microeconomics","score":0.1968444585800171}],"concepts":[{"id":"https://openalex.org/C41008148","wikidata":"https://www.wikidata.org/wiki/Q21198","display_name":"Computer science","level":0,"score":0.5016798973083496},{"id":"https://openalex.org/C137577040","wikidata":"https://www.wikidata.org/wiki/Q431965","display_name":"Information asymmetry","level":2,"score":0.46251121163368225},{"id":"https://openalex.org/C48798503","wikidata":"https://www.wikidata.org/wiki/Q877546","display_name":"Reputation","level":2,"score":0.46124356985092163},{"id":"https://openalex.org/C162118730","wikidata":"https://www.wikidata.org/wiki/Q1128453","display_name":"Actuarial science","level":1,"score":0.45011812448501587},{"id":"https://openalex.org/C149782125","wikidata":"https://www.wikidata.org/wiki/Q160039","display_name":"Econometrics","level":1,"score":0.4440397024154663},{"id":"https://openalex.org/C2780202544","wikidata":"https://www.wikidata.org/wiki/Q44454","display_name":"Moral hazard","level":3,"score":0.42389440536499023},{"id":"https://openalex.org/C2777764128","wikidata":"https://www.wikidata.org/wiki/Q189539","display_name":"Loan","level":2,"score":0.41178038716316223},{"id":"https://openalex.org/C144133560","wikidata":"https://www.wikidata.org/wiki/Q4830453","display_name":"Business","level":0,"score":0.3493686318397522},{"id":"https://openalex.org/C10138342","wikidata":"https://www.wikidata.org/wiki/Q43015","display_name":"Finance","level":1,"score":0.2700280547142029},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.2690183222293854},{"id":"https://openalex.org/C29122968","wikidata":"https://www.wikidata.org/wiki/Q1414816","display_name":"Incentive","level":2,"score":0.2344152331352234},{"id":"https://openalex.org/C175444787","wikidata":"https://www.wikidata.org/wiki/Q39072","display_name":"Microeconomics","level":1,"score":0.1968444585800171},{"id":"https://openalex.org/C36289849","wikidata":"https://www.wikidata.org/wiki/Q34749","display_name":"Social science","level":1,"score":0.0},{"id":"https://openalex.org/C144024400","wikidata":"https://www.wikidata.org/wiki/Q21201","display_name":"Sociology","level":0,"score":0.0}],"mesh":[],"locations_count":3,"locations":[{"id":"doi:10.3390/sym12060935","is_oa":true,"landing_page_url":"https://doi.org/10.3390/sym12060935","pdf_url":"https://www.mdpi.com/2073-8994/12/6/935/pdf?version=1592812770","source":{"id":"https://openalex.org/S190787756","display_name":"Symmetry","issn_l":"2073-8994","issn":["2073-8994"],"is_oa":true,"is_in_doaj":false,"is_core":true,"host_organization":"https://openalex.org/P4310310987","host_organization_name":"Multidisciplinary Digital Publishing Institute","host_organization_lineage":["https://openalex.org/P4310310987"],"host_organization_lineage_names":["Multidisciplinary Digital Publishing Institute"],"type":"journal"},"license":"cc-by","license_id":"https://openalex.org/licenses/cc-by","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Symmetry","raw_type":"journal-article"},{"id":"pmh:oai:doaj.org/article:b602cc105514472484d0e4bb47b7c2fe","is_oa":true,"landing_page_url":"https://doaj.org/article/b602cc105514472484d0e4bb47b7c2fe","pdf_url":null,"source":{"id":"https://openalex.org/S112646816","display_name":"SHILAP Revista de lepidopterolog\u00eda","issn_l":"0300-5267","issn":["0300-5267","2340-4078"],"is_oa":true,"is_in_doaj":true,"is_core":false,"host_organization":null,"host_organization_name":null,"host_organization_lineage":[],"host_organization_lineage_names":[],"type":"journal"},"license":"cc-by-sa","license_id":"https://openalex.org/licenses/cc-by-sa","version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"Symmetry, Vol 12, Iss 6, p 935 (2020)","raw_type":"article"},{"id":"pmh:oai:mdpi.com:/2073-8994/12/6/935/","is_oa":true,"landing_page_url":"http://dx.doi.org/10.3390/sym12060935","pdf_url":null,"source":{"id":"https://openalex.org/S4306400947","display_name":"MDPI (MDPI AG)","issn_l":null,"issn":null,"is_oa":true,"is_in_doaj":false,"is_core":false,"host_organization":"https://openalex.org/I4210097602","host_organization_name":"Multidisciplinary Digital Publishing Institute (Switzerland)","host_organization_lineage":["https://openalex.org/I4210097602"],"host_organization_lineage_names":[],"type":"repository"},"license":"cc-by","license_id":"https://openalex.org/licenses/cc-by","version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"Symmetry","raw_type":"Text"}],"best_oa_location":{"id":"doi:10.3390/sym12060935","is_oa":true,"landing_page_url":"https://doi.org/10.3390/sym12060935","pdf_url":"https://www.mdpi.com/2073-8994/12/6/935/pdf?version=1592812770","source":{"id":"https://openalex.org/S190787756","display_name":"Symmetry","issn_l":"2073-8994","issn":["2073-8994"],"is_oa":true,"is_in_doaj":false,"is_core":true,"host_organization":"https://openalex.org/P4310310987","host_organization_name":"Multidisciplinary Digital Publishing Institute","host_organization_lineage":["https://openalex.org/P4310310987"],"host_organization_lineage_names":["Multidisciplinary Digital Publishing Institute"],"type":"journal"},"license":"cc-by","license_id":"https://openalex.org/licenses/cc-by","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Symmetry","raw_type":"journal-article"},"sustainable_development_goals":[],"awards":[{"id":"https://openalex.org/G5425226484","display_name":null,"funder_award_id":"11971092","funder_id":"https://openalex.org/F4320321001","funder_display_name":"National Natural Science Foundation of China"}],"funders":[{"id":"https://openalex.org/F4320321001","display_name":"National Natural Science Foundation of China","ror":"https://ror.org/01h0zpd94"}],"has_content":{"grobid_xml":true,"pdf":true},"content_urls":{"pdf":"https://content.openalex.org/works/W3033458159.pdf","grobid_xml":"https://content.openalex.org/works/W3033458159.grobid-xml"},"referenced_works_count":24,"referenced_works":["https://openalex.org/W1727710429","https://openalex.org/W1972873717","https://openalex.org/W2037964547","https://openalex.org/W2041891835","https://openalex.org/W2073806890","https://openalex.org/W2092330360","https://openalex.org/W2139120543","https://openalex.org/W2245202563","https://openalex.org/W2322992634","https://openalex.org/W2747436277","https://openalex.org/W2762385132","https://openalex.org/W2804638224","https://openalex.org/W2900275606","https://openalex.org/W2908004109","https://openalex.org/W2912185192","https://openalex.org/W2921451329","https://openalex.org/W2943467878","https://openalex.org/W2946512908","https://openalex.org/W2947271329","https://openalex.org/W2961766737","https://openalex.org/W3124284538","https://openalex.org/W3124751568","https://openalex.org/W6734406562","https://openalex.org/W6820122306"],"related_works":["https://openalex.org/W2591230998","https://openalex.org/W2273907187","https://openalex.org/W2574985516","https://openalex.org/W3150206884","https://openalex.org/W2348627368","https://openalex.org/W1868061039","https://openalex.org/W2388090699","https://openalex.org/W131093761","https://openalex.org/W3124477927","https://openalex.org/W2352341654"],"abstract_inverted_index":{"Recent":[0],"a":[1,15,21,54,136,234,274],"few":[2],"years":[3],"have":[4,36],"witnessed":[5],"the":[6,10,32,47,100,106,116,119,125,139,152,161,178,217,220,226,229,240,246,249,268],"rapid":[7],"expansion":[8],"of":[9,18,24,49,90,102,108,118,129,141,146,154,163,180,242,248,251,270],"peer-to-peer":[11,91,164],"lending":[12,92,165],"marketplace.":[13],"As":[14],"new":[16],"field":[17],"investment":[19,149,254],"and":[20,63,144,202],"novel":[22],"channel":[23],"financing,":[25],"it":[26],"has":[27],"drawn":[28],"extensive":[29],"attention":[30],"throughout":[31],"world.":[33],"Many":[34],"investors":[35,44,231,266],"shown":[37],"great":[38,275],"enthusiasm":[39],"for":[40,87,184],"this":[41,58,73],"field.":[42],"However,":[43],"are":[45],"at":[46,245],"disadvantage":[48],"information":[50,103,271],"asymmetry,":[51],"which":[52,97],"is":[53,61,191],"key":[55],"issue":[56],"in":[57,105],"marketplace":[59],"that":[60,145,212],"unavoidable":[62],"can":[64,98,264],"lead":[65],"to":[66,134,160,176,193,238,257,273],"moral":[67],"hazard":[68],"or":[69],"adverse":[70],"selection.":[71],"In":[72],"paper,":[74],"we":[75,121,167],"propose":[76],"an":[77,169],"L":[78,170,185],"1":[79,171,186],"/":[80,172,187],"2":[81,173,188],"-regularized":[82],"weighted":[83],"logistic":[84],"regression":[85],"model":[86,263],"default":[88],"prediction":[89],"loans":[93],"from":[94,207],"investors\u2019":[95,155],"perspective,":[96],"reduce":[99,177,267],"impact":[101,269],"asymmetry":[104,272],"process":[107],"loan":[109],"decision.":[110],"Rather":[111],"than":[112],"solely":[113],"focus":[114],"on":[115,151],"accuracy":[117],"prediction,":[120],"take":[122],"into":[123],"consideration":[124],"different":[126,130],"risk":[127,140,156,241,260],"preferences":[128],"investors.":[131],"We":[132,197],"try":[133],"find":[135],"trade-off":[137],"between":[138],"losing":[142,147,243],"principal":[143,244],"potential":[148,253],"opportunities":[150,255],"basis":[153],"preferences.":[157,261],"Meanwhile,":[158],"due":[159],"nature":[162],"loans,":[166],"add":[168],"-regularization":[174,189],"term":[175],"chance":[179],"overfitting.":[181],"Xu\u2019s":[182],"algorithm":[183],"problems":[190],"applied":[192],"solve":[194],"our":[195],"model.":[196],"perform":[198],"training,":[199],"in-sample":[200],"test,":[201],"out-of-sample":[203,216],"test":[204],"with":[205],"data":[206],"LendingClub.":[208],"Numerical":[209],"experiments":[210],"demonstrate":[211],"regularization":[213],"could":[214,232],"enhance":[215],"area":[218],"under":[219],"Precision\u2013Recall":[221],"curve":[222],"(AUPRC).":[223],"By":[224],"applying":[225],"proposed":[227],"model,":[228],"risk-averse":[230],"apply":[233],"higher":[235],"penalty":[236],"factor":[237],"lower":[239],"cost":[247],"loss":[250],"some":[252],"according":[256],"their":[258],"own":[259],"This":[262],"help":[265],"extent.":[276]},"counts_by_year":[{"year":2023,"cited_by_count":1},{"year":2022,"cited_by_count":3}],"updated_date":"2026-03-27T05:58:40.876381","created_date":"2025-10-10T00:00:00"}