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Information Asymmetry, Moral Hazard, and Payday Loans

Dobbie’s and Skiba’s paper: “Information Asymmetries in Consumer Credit Markets: Evidence from Payday Lending” uses the following information to describe payday loans. A payday loan is a consumer loan given to people who need money and cannot afford to wait for their next paycheck, and a personal check is used as collateral. They are usually […]

How the internet effects us: “Network Effect” and the wisdom of crowds

“Network Effect” is a project by Jonathan Harris and Greg Hochmuth. It is a website — but the first website I have seen that is dedicated to being a work of art. When accessed, the website invites you to browse it and recommends you wear headphones. It then presents you with a collection of keywords, […]

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