Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/193949 
Erscheinungsjahr: 
2019
Schriftenreihe/Nr.: 
ESRI Working Paper No. 612
Verlag: 
The Economic and Social Research Institute (ESRI), Dublin
Zusammenfassung: 
Encouraging consumers to seek out and switch to lower-rate mortgages is important both for the individual consumer's finances and for functioning competitive markets, but switching rates are low. We conducted an experiment with mortgage-holders to test whether official advice on how to select good mortgage products and how to navigate the switching process alters perceptions of switching. The experiment shows that the advice made consumers more sensitive to interest rate decreases and more favourable towards switching at longer terms. It also increased consumers' confidence in their ability to select good offers. The findings imply that advice from policymakers can change perceptions and increase switching rates.
Schlagwörter: 
financial decision-making
consumer advice
mortgages
switching
behavioural economics
JEL: 
C91
D14
D91
G21
G28
G41
Dokumentart: 
Working Paper

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