| Description |
The main motivation of this research is to contribute to the body of work that challenges the mainstream approach to household borrowing. This contribution is twofold. First of all, in this research history matters, unlike in ahistorical utility analyses. This is accomplished by presenting data that goes back to the 1980s to support the hypothesis formed. This way, it is possible to see if there has been a significant shift in the relationships investigated. Second, this research draws on the literature from various fields such as psychology, medicine, sociology, and law as well as economics and finance. This allows the author to make a more holistic analysis of household borrowing without ignoring the institutional, social, and physiological dimensions of the issue. |
