Affiliation:
1. Frankfurt School of Finance & Management
2. Humboldt University Berlin
3. Frankfurt School of Finance & Management, Technische Universität Darmstadt
4. Duke University and NBER
Abstract
Abstract
We analyze the information content of a digital footprint—that is, information that users leave online simply by accessing or registering on a Web site—for predicting consumer default. We show that even simple, easily accessible variables from a digital footprint match the information content of credit bureau scores. A digital footprint complements rather than substitutes for credit bureau information and affects access to credit and reduces default rates. We discuss the implications for financial intermediaries’ business models, access to credit for the unbanked, and the behavior of consumers, firms, and regulators in the digital sphere. (JEL G20, G21, G29)
Publisher
Oxford University Press (OUP)
Subject
Economics and Econometrics,Finance,Accounting
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