Rational Exuberance at the Mall: Addiction to Carrying a Credit Card Balance*
نویسندگان
چکیده
We test the Becker-Murphy model of rational addiction with New Zealand credit card debt data. Our results clearly favour the rational addiction model over the myopic, backward-looking model. The estimated short-run and long-run price elasticities are-0.58 and-2.32 respectively, and the estimated rate of time-preference is 6.7% per quarter.
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De Montjoye et al. (Reports, 30 January 2015, p. 536) claimed that most individuals can be reidentified from a deidentified transaction database and that anonymization mechanisms are not effective against reidentification. We demonstrate that anonymization can be performed by techniques well established in the literature.
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تاریخ انتشار 2005