Tell Me a Good Story and I May Lend You My Money: The Role of Narratives in Peer-to-Peer Lending Decisions
Tell Me a Good Story and I May Lend You My Money: The Role of Narratives in Peer-to-Peer Lending Decisions
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DOI：
10.2139/ssrn.1840668
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发表时间：
2011-05
期刊：
影响因子：
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通讯作者：
M. Herzenstein;Scott Sonenshein;U. Dholakia
中科院分区：
文献类型：
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作者：
M. Herzenstein;Scott Sonenshein;U. Dholakia
我们研究了借款人在影响贷款人关于无担保个人贷款决策的叙述中构建的身份主张的作用。我们研究身份声明的数量及其内容是否影响贷款人的决策，以及它们是否预测融资贷款的长期表现。利用p2p借贷网站Prosper.com的数据，我们发现，无法核实的信息比客观、可核实的信息更能影响贷款决策。具体来说，随着叙事中身份要求的数量增加，贷款资金也会增加，但贷款绩效会受到影响，因为这些借款人不太可能还钱。此外，身份内容也起着重要的作用。值得信赖或成功的身份与贷款资金增加有关，但具有讽刺意味的是，与其他身份（道德和经济困难）相比，它们对贷款业绩的预测能力较弱。因此，一些身份声明是为了误导贷款人，而另一些则是借款人的真实代表。
We examine the role of identity claims constructed in narratives by borrowers in influencing lender decision making regarding unsecured personal loans. We study whether the number of identity claims and their content influence decisions of lenders and whether they predict longer-term performance of funded loans. Using data from the peer-to-peer lending website Prosper.com, we find that unverifiable information affects lending decisions above and beyond objective, verifiable information. Specifically, as the number of identity claims in narratives increases, so does loan funding but loan performance suffers, because these borrowers are less likely to pay back. In addition, identity content plays an important role. Identities about being trustworthy or successful are associated with increased loan funding but ironically they are less predictive of loan performance compared with other identities (moral and economic hardship). Thus, some identity claims are meant to mislead lenders while others are true representations of borrowers.