Rational Herding in Microloan Markets
Microloan markets allow individual borrowers to raise funding from multiple individual lenders. We use a unique panel data set that tracks the funding dynamics of borrower listings on Prosper.com, the largest microloan market in the United States. We find evidence of rational herding among lenders....
| Main Authors: | , |
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| Format: | Article |
| Language: | en_US |
| Published: |
Institute for Operations Research and the Management Sciences (INFORMS)
2013
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| Online Access: | http://hdl.handle.net/1721.1/77217 https://orcid.org/0000-0002-1635-3797 |