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Social Influence and the Consumer Bankruptcy Decision

Jonathan Fisher

Working Papers from U.S. Census Bureau, Center for Economic Studies

Abstract: I examine the influence of neighbors on the consumer bankruptcy decision using administrative bankruptcy records linked the 2000 Decennial Census. Two empirical strategies remove unobserved common factors that affect identification. The first strategy uses small geographical areas to isolate neighborhood effects, and the second strategy identifies the effect using past bankruptcy filers who moved states. The findings from both strategies reinforce each other and confirm the role of social influence on the bankruptcy decision. Having a past bankruptcy filer move into the block from a different state increases the likelihood of filing by 10 percent.

Keywords: Personal bankruptcy; program participation; social influence (search for similar items in EconPapers)
JEL-codes: D12 K35 (search for similar items in EconPapers)
Pages: 26 pages
Date: 2017-01
New Economics Papers: this item is included in nep-law and nep-ure
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Handle: RePEc:cen:wpaper:17-60