How much should first-time borrowers borrow?
https://www.sciencedaily.com/releases/2020/11/201130101259.htm
The paper argues that new borrowers -- especially young people and those of an "impulsive" disposition -- need protection to prevent them falling into long-term debt.
It says lenders should have a duty of care, requiring them to consider age, experience and personality traits, which can be detected by psychometric tests.
How much should first-time borrowers borrow?
Dec 1, 2020, 3:19pm UTC
https://www.sciencedaily.com/releases/2020/11/201130101259.htm
> The paper argues that new borrowers -- especially young people and those of an "impulsive" disposition -- need protection to prevent them falling into long-term debt.
> It says lenders should have a duty of care, requiring them to consider age, experience and personality traits, which can be detected by psychometric tests.