{"id":{"repo_id":"mit","oai_identifier":"oai:dspace.mit.edu:1721.1/109689"},"canonical_url":"https://search.dev.ndltd.org/etd/mit/oai:dspace.mit.edu:1721.1/109689","repository":{"repo_id":"mit","name":"MIT","base_url":"https://dspace.mit.edu/oai/request"},"display":{"title":"Financial decisions of households","abstract":"Left-digit bias refers to the tendency of individuals to focus attention on the leftmost digit of numerical information when making decisions. This paper tests for the existence of left-digit bias in the consumer credit card market. Using a regression-discontinuity design, I find sharp increases in credit card repayments around $1,000 monthly balance thresholds. The estimated effect, an approximately $20 increase in repayment, translates to about 4.35 percent of the average payment. However, I find smaller effects on future repayment behavior and the amount of future purchases. Finally, I find the effect to be stronger in higher self-reported income groups..","abstract_html":"Left-digit bias refers to the tendency of individuals to focus attention on the leftmost digit of numerical information when making decisions. This paper tests for the existence of left-digit bias in the consumer credit card market. Using a regression-discontinuity design, I find sharp increases in credit card repayments around $1,000 monthly balance thresholds. The estimated effect, an approximately $20 increase in repayment, translates to about 4.35 percent of the average payment. However, I find smaller effects on future repayment behavior and the amount of future purchases. Finally, I find the effect to be stronger in higher self-reported income groups..","abstract_has_math":true,"creators":["Jambulapati, Vikram"],"institution":"Massachusetts Institute of Technology","degree_name":null,"degree_level":null,"degree_discipline":null,"degree_department":"Sloan School of Management.","school":null,"contributors":[],"advisors":["Antoinette Schoar."],"committee_chairs":[],"committee_members":[],"year":2017,"date_issued":"2017","date_published":"2017","updated_at":"2026-07-22T22:21:46Z","subjects":["Sloan School of Management."],"languages":["eng"],"rights":["MIT theses are protected by copyright. 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This paper tests for the existence of left-digit bias in the consumer credit card market. Using a regression-discontinuity design, I find sharp increases in credit card repayments around $1,000 monthly balance thresholds. The estimated effect, an approximately $20 increase in repayment, translates to about 4.35 percent of the average payment. However, I find smaller effects on future repayment behavior and the amount of future purchases. Finally, I find the effect to be stronger in higher self-reported income groups.."]},{"key":"dc:description.degree","label":"Dc Description Degree","values":["S.M. in Management Research"]},{"key":"dc:title","label":"Title","values":["Financial decisions of households"]}]}],"canonical_facts":{"dc:contributor.advisor":["Antoinette Schoar."],"dc:contributor.department":["Sloan School of Management."],"dc:contributor.other":["Sloan School of Management."],"dc:creator":["Jambulapati, Vikram"],"dc:date.accessioned":["2017-06-06T19:25:32Z"],"dc:date.available":["2017-06-06T19:25:32Z"],"dc:date.issued":["2017"],"dc:description":["Thesis: S.M. in Management Research, Massachusetts Institute of Technology, Sloan School of Management, 2017.","Cataloged from PDF version of thesis.","Includes bibliographical references (pages 22-23)."],"dc:description.abstract":["Left-digit bias refers to the tendency of individuals to focus attention on the leftmost digit of numerical information when making decisions. This paper tests for the existence of left-digit bias in the consumer credit card market. Using a regression-discontinuity design, I find sharp increases in credit card repayments around $1,000 monthly balance thresholds. The estimated effect, an approximately $20 increase in repayment, translates to about 4.35 percent of the average payment. However, I find smaller effects on future repayment behavior and the amount of future purchases. Finally, I find the effect to be stronger in higher self-reported income groups.."],"dc:description.degree":["S.M. in Management Research"],"dc:identifier.uri":["http://hdl.handle.net/1721.1/109689"],"dc:language.iso":["eng"],"dc:publisher":["Massachusetts Institute of Technology"],"dc:rights":["MIT theses are protected by copyright. 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