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The Failure and Promise of Mandated Consumer Mortgage Disclosures: Evidence from Qualitative Interviews and a Controlled Experiment with Mortgage Borrowers

Author

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  • James M. Lacko
  • Janis K. Pappalardo

Abstract

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Suggested Citation

  • James M. Lacko & Janis K. Pappalardo, 2010. "The Failure and Promise of Mandated Consumer Mortgage Disclosures: Evidence from Qualitative Interviews and a Controlled Experiment with Mortgage Borrowers," American Economic Review, American Economic Association, vol. 100(2), pages 516-521, May.
  • Handle: RePEc:aea:aecrev:v:100:y:2010:i:2:p:516-21
    Note: DOI: 10.1257/aer.100.2.516
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    References listed on IDEAS

    as
    1. Xavier Gabaix & David Laibson, 2006. "Shrouded Attributes, Consumer Myopia, and Information Suppression in Competitive Markets," The Quarterly Journal of Economics, Oxford University Press, vol. 121(2), pages 505-540.
    2. Steven Salop & Joseph Stiglitz, 1977. "Bargains and Ripoffs: A Model of Monopolistically Competitive Price Dispersion," Review of Economic Studies, Oxford University Press, vol. 44(3), pages 493-510.
    3. Michael Baye & Matias Barenstein & Debra Holt & Pauline Ippolito & James Lacko & Jesse Leary & Janis Pappalardo & Paul Pautler & Michael Vita, 2008. "Economics at the FTC: The Google-DoubleClick Merger, Resale Price Maintenance, Mortgage Disclosures, and Credit Scoring in Auto Insurance," Review of Industrial Organization, Springer;The Industrial Organization Society, vol. 33(3), pages 211-230, November.
    4. Kathy Baylis & Jeffrey Perloff, 2002. "Price Dispersion on the Internet: Good Firms and Bad Firms," Review of Industrial Organization, Springer;The Industrial Organization Society, vol. 21(3), pages 305-324, November.
    5. Oliver Board, 2009. "COMPETITION AND DISCLOSURE -super-," Journal of Industrial Economics, Wiley Blackwell, vol. 57(1), pages 197-213, March.
    6. George J. Stigler, 1961. "The Economics of Information," Journal of Political Economy, University of Chicago Press, vol. 69, pages 213-213.
    7. Clifford Winston, 2008. "The Efficacy of Information Policy: A Review of Archon Fung, Mary Graham, and David Weil's Full Disclosure: The Perils and Promise of Transparency," Journal of Economic Literature, American Economic Association, vol. 46(3), pages 704-717, September.
    Full references (including those not matched with items on IDEAS)

    Citations

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    Cited by:

    1. repec:oup:revfin:v:21:y:2017:i:3:p:1189-1216. is not listed on IDEAS
    2. Joseph Farrell & Janis Pappalardo & Howard Shelanski, 2010. "Economics at the FTC: Mergers, Dominant-Firm Conduct, and Consumer Behavior," Review of Industrial Organization, Springer;The Industrial Organization Society, vol. 37(4), pages 263-277, December.
    3. Michael Kosfeld & Ulrich Schüwer, 2017. "Add-on Pricing in Retail Financial Markets and the Fallacies of Consumer Education," Review of Finance, European Finance Association, vol. 21(3), pages 1189-1216.
    4. n/a, 2012. "Commentaries and Reply to "Unintended Nutrition Consequences: Firm Responses to the Nutrition Labeling and Education Act" by Christine Moorman, Rosellina Ferraro, and Joel Huber," Marketing Science, INFORMS, vol. 31(5), pages 738-755, September.
    5. McElvaney, Terry & Lunn, Pete & McGowan, Féidhlim, 2018. "Do consumers understand PCP car finance? An experimental investigation," Papers WP586, Economic and Social Research Institute (ESRI).
    6. repec:kap:theord:v:84:y:2018:i:1:d:10.1007_s11238-017-9641-9 is not listed on IDEAS
    7. Robert Feinberg & Daniel Kuehn & Signe-Mary McKernan & Doug Wissoker & Sisi Zhang, 2015. "Explaining Variation in Title Charges: A Study of Five Metropolitan Residential Real Estate Markets," Review of Industrial Organization, Springer;The Industrial Organization Society, vol. 46(2), pages 145-167, March.

    More about this item

    JEL classification:

    • D14 - Microeconomics - - Household Behavior - - - Household Saving; Personal Finance
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages

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