Diagnosing Consumer Confusion and Sub-Optimal Shopping Effort: Theory and Mortgage-Market Evidence

By Susan E. Woodward, Robert E. Hall. 2012

254 citations recorded by the source corpus.

Subfields: Accounting, Economics and Econometrics, Marketing

View Paper: https://www.semanticscholar.org/paper/03ec423e22f5e5f6610ef1d9bb7b28feff2ac79f

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Citations in the corpus

Financial Literacy, Financial Education, and Downstream Financial Behaviors (2014, background): “Baby boomers witnessed during their working careers the advent of exotic mortgage forms (Lacko and Pappalardo 2007; cf. Woodward and Hall 2012), much-expanded credit availability, and new borrowing options such as payday loans and debt consolidation loans.”
Consumer-lending discrimination in the FinTech Era (2019, unknown): “Lenders may be able to extract monopoly rents from minority borrowers because such borrowers might be prone to less shopping on average (Woodward, 2008; Woodward and Hall, 2012).”
Strategic Obfuscation and Consumer Protection Policy (2014, background): “Also, relying on outside advice may not help in making good decisions as this advice may be biased due to agency problems between financial institutions, their sales agents and consumers (Bolton et al., 2007; Inderst and Ottaviani, 2009, 2011; Woodward and Hall, 2011).”
Racial Dynamics of Subprime Mortgage Lending at the Peak (2013, background): “In a study of fees paid to brokers, Woodward and Hall (2010) argued that this dynamic led many borrowers (and minorities in particular) to pay more than the optimal price.”
Inferior Products and Profitable Deception (2017, methodology): “Based on existing evidence (Cruickshank, 2000; Bucks and Pence, 2008; Gerardi et al., 2009; Woodward and Hall, 2012; Gurun et al., forthcoming) it is plausible to assume that consumers have a limited understanding of mortgages in general, and of these mortgages in particular.”
Evidence on the Incidence of Wage Posting, Wage Bargaining, and On-the-Job Search (2012, unknown): “1 percent, weighted), and those who were not employed at the time of the survey were asked about their last jobs (5.9 percent, weighted). The national unemployment rate reported by the Bureau of Labor Statistics for the two months of the survey was 5.7 percent. The survey organization Westat conduct”
Search Frictions and Market Power in Negotiated-Price Markets (2019, background): “these number realistic? Hall and Woodward (2010) calculate that a U.”
THE MORPHOLOGY OF PRICE DISPERSION (2015, unknown): “Woodward and Hall (2012) documented price dispersion for mortgage brokerage services.”
Defaults and Donations: Evidence from a Field Experiment (2019, background): “In the banking sector, Woodward and Hall (2012) finds that borrowers underestimate broker compensation, and Cruickshank (2000) documents that retail bank customers do not know specific banking fees.”
Mortgage Market Design (2012, background): “Woodward (2004) and Woodward and Hall (2012) present evidence that simple mortgage forms are associated with lower fees, particularly for less sophisticated borrowers.”
Knowledge creation in consumer research: Multiple routes, multiple criteria (2012, unknown): “In economics, consider Woodward and Hall (2012) analysis of consumer confusion in the mortgage market.”