Consumer Credit Decisions in a Dual-Process Perspective

消费信贷在过去几十年中变得无处不在，并与弱势消费群体，例如低收入消费者和年轻人的财务和心理困难有关。随着新的信贷形式的发展，如店内信贷和互联网上的即时信贷，信贷决策变得更加自发，也可能更成问题。这个项目将研究单位第一阶段的概念和方法应用到消费信贷决策的主题中。该项目分为两条研究路线，即借款和偿还，每条路线都侧重于消费者在签署信用合同之前和之后的阶段做出的具体决定。研究行I(借款)考察(A)消费者在不同信贷优惠之间进行选择时的决策，以及(B)消费者对即时信贷优惠的决策。研究项目II(偿还)审查(A)消费者在管理几个开放信贷账户时的决定，以及(B)消费者在仍有义务偿还开放信贷的同时，关于吸引新机会的决定。这些话题与信贷行为相关，因为人们发现，消费者在决定提供信贷时，以及在管理他们的还款义务时，经常使用启发式方法，并将重点放在选定的信息线索上。信贷决策在一定程度上是由自动流程驱动的，最近新的信贷形式可能会使自动流程更具影响力。这项研究议程借鉴了三个理论账户。(1)基于双过程理论，该项目将考察关于信用使用的具体决定，作为受情景(例如认知负荷、自我耗竭)和个人特征(例如习惯性决策风格、自我控制)影响的自动和受控过程的相互作用。(2)在自我调节理论的基础上，该项目将研究信贷决策中的自动和受控过程如何受到特定的自我调节策略(实施意图和目标导向行动的表现)的影响。特别是，该项目探索了这些策略如何帮助消费者改善信息精确度，并抵制来自信贷优惠和消费机会的诱惑。(3)从心理会计的角度，该项目将审查重点信贷交易的要素(即货物和分期付款)之间的相互作用，以及重点信贷交易与金融环境之间的关系。特别是，该项目将研究心理会计的具体方面(选择、匹配、耦合)如何影响信贷决策中的自动和受控过程。该项目对理解财务决策中的双重过程具有理论意义。实际影响涉及到个人消费者、消费者咨询组织、银行和信贷机构。此外，结果可以为公共政策，特别是消费者政策提供信息。

Consumer credit has become pervasive over the last decades, and has been connected to financial and psychological difficulties for vulnerable consumer groups, e.g., low-income consumers and young adults. With the development of new forms of credit offers such as in-store credit and instant credit over the internet, credit decisions become more spontaneous and potentially more problematic. This project applies concepts and approaches from the first phase of the research unit to the topic of consumer credit decisions. The project pursues two research lines, borrowing and repaying, each focusing on specific decisions consumers make in the phases before and after signing a credit contract. Research line I (borrowing) examines (a) consumer decisions when choosing between different credit offers and (b) consumer decisions regarding instant credit offers. Research line II (repaying) examines (a) consumer decisions when managing several open credit accounts and (b) consumer decisions regarding tempting new opportunities while still having the obligation to repay an open credit. These topics are relevant for credit behavior because consumers have been found to often use heuristics and to focus on selected information cues when deciding on credit offers, and when managing their repaying obligations. Credit decisions are in part driven by automatic processes, and recent new credit forms are likely to make automatic processes more influential. The research agenda draws on three theoretical accounts. (1) Building on dual-process theories, the project will examine specific decisions on credit use as an interplay of automatic and controlled processes influenced by situational (e.g. cognitive load, ego depletion) and personal characteristics (e.g., habitual decision style, self-control). (2) Building on self-regulation theories, the project will examine how automatic and controlled processes in credit decisions are influenced by specific self-regulation strategies (implementation intentions and representation of goal-directed actions). In particular, the project explores how these strategies can help consumers to improve information elaboration and resistance to temptations from credit offers and spending opportunities. (3) Taking a mental accounting perspective, the project will examine the interplay between the elements of the focal credit transaction (i.e., good and installments) and the relation between the focal credit transaction and the financial environment. In particular, the project will examine how specific aspects of mental accounting (choice bracketing, matching, coupling) influence automatic and controlled processes in credit decisions. The project has theoretical implications for the understanding of dual processes in financial decision-making. Practical implications concern individual consumers, consumer counseling organizations, banks and credit institutions. ln addition, results can inform public policy, in particular consumer policy.