𝔖 Bobbio Scriptorium
✦   LIBER   ✦

DEALER PRICING OF CONSUMER CREDIT

✍ Scribed by Giuseppe Bertola; Stefan Hochguertel; Winfried Koeniger

Book ID
111080794
Publisher
John Wiley and Sons
Year
2005
Tongue
English
Weight
371 KB
Volume
46
Category
Article
ISSN
0020-6598

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## Abstract An option is embedded in credit cards. Since credit cards offer open credit lines, cardholders can borrow at the same terms when they become riskier. This option value raises the zero‐profit card rate. Furthermore, adverse selection occurs if cardholders are better informed about the pr