Psychological Factors of Multiple Debt Repayment Strategies
https://doi.org/10.26794/2308-944X-2018-6-2-57-64
Abstract
The article presents a review of the literature and the results of an empirical study of strategies for repayment of multiple debts in a laboratory experiment and their connection with the personality traits of the respondents (N = 348). The main strategies of debt repayment are identified - Rational, Semi-rational, Aversive, Distributive, Chaotic and Ignoring of small numbers. The smallest group in the empirical study is the group of respondents with Rational strategy. Respondents of all the groups, except Rational, were compared among themselves on personal characteristics. Respondents with the Semi-rational strategy, in contrast to respondents with other strategies, demonstrate a greater propensity for risk. An Aversive strategy is characterised by a tendency to reduce the number of debts and is demonstrated by respondents when performing various tasks. Respondents with a Chaotic strategy made multiple mistakes in the simulation and, in comparison with all other respondents, are less open to new experience. Respondents with a strategy for paying off debts Ignoring small numbers turned out to be more benevolent than Chaotic respondents and respondents with the Close to rational strategy.
About the Authors
M. Gagarina
Financial University
Russian Federation
Russian Federation
T. Goroshnikova
Financial University
Russian Federation
Russian Federation
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Review
For citations:
Gagarina M., Goroshnikova T. Psychological Factors of Multiple Debt Repayment Strategies. Review of Business and Economics Studies. 2018;6(3):57-64. (In Russ.) https://doi.org/10.26794/2308-944X-2018-6-2-57-64
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