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Using Descriptive Norms to Motivate Indebted Consumers to Repay their Debts

Presented by: Farnoush Reshadi, Worcester Polytechnic Institute

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  • June 2, 2021 at 1:42 pm #80932
    Hannah Finkelstein

    Please provide feedback on: Using Descriptive Norms to Motivate Indebted Consumers to Repay their Debts

    June 23, 2021 at 9:05 pm #82277
    Mariea Hoy

    Do you think your results will hold across various debt scenarios? For example, repaying student loans or mortgages.
    I think the insight from your study could be helpful as students/young adults get their first (solo) credit cards so that you set the norm of paying the account balance in full each month. Living debt-free is a wonderful life!

    June 24, 2021 at 4:19 pm #82407
    Farnoush Reshadi

    Thanks for your comment. That’s a great point. This is our very first study. After we find the message that has a strong impact on debt payment, we are planning to test the generalizability of this intervention to other debt types. Hopefully, we can use this intervention to help people live debt-free.

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