A Bayesian Analysis of Credit Rationing
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概要
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This paper concerns credit rationing in commercial loan markets. The banks are assumed to behave as Bayesian statisticians to improve their subjective distribution of the default rate and their ability to identify risky loan applicants. The comparative statics results here depend crucially on the form of the bank's information cost function and relative magnitudes of prior and sample means of the default rate. It is also shown that the commonly-held views on the relation between the volume of credit rationing and changes in uncertainty are special cases of the results obtained in this paper.
- 千葉大学の論文
- 1994-06-29
著者
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