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What Matters for Consumer Credit Choice? Non-Standard Disclosures in the Philippine

flexible loans

  • Researchers:
    • Michael King , Paolina Medina, Roland Umanan and Benjamin Radoc

  • Partners:
    • Philippine Competition Commission

  • Location:
    • Philippines

  • Sample:
    • 4,000 Filipino Citzens

  • Timeline:
    • 2023

  • Theme:
    • Digital Credit, Consumer Protection

  • Description:
    • This study focuses on the digital credit landscape in the Philippines, where the popularity of high-interest, short-term loans raises concerns about consumer protection. The research aims to understand the socio-demographic and behavioral characteristics of digital credit users, how they differ from non-users, and the impact of behaviourally-informed, non-standard disclosures on consumers' loan choices. The study employs a discrete choice experiment conducted online with 4,000 respondents, half nationally representative and half prospective digital credit borrowers. The choice task involves selecting the most preferred option from 9 hypothetical digital credit products, presented differently in treatment arms and a control group to evaluate the effect of disclosure format on consumer decision-making.