Information Asymmetry Among Investors and Strategic Bidding in Peer-to-Peer Lending
Published Online:21 Dec 2021https://doi.org/10.1287/isre.2021.1084
References
- (2021) Where you live matters: Local bank competition, online marketplace lending, and disparity in borrower benefits. Inform. Systems Res., epub ahead of print September 27, https://doi.org/10.1287/isre/2021/1043.Link, Google Scholar
- (2003) The winner’s curse, reserve prices, and endogenous entry: Empirical insights from eBay auctions. RAND J. Econom. 34(2):329–355.Crossref, Google Scholar
- (2000) A theoretical and empirical investigation of multi-item on-line auctions. Inform. Tech. Management 1(1-2):1–23.Crossref, Google Scholar
- (2003) Analysis and design of business-to-consumer online auctions. Management Sci. 49(1):85–101.Link, Google Scholar
- (2018) The role of provision points in online crowdfunding. J. Management Inform. Systems 35(1):117–144.Crossref, Google Scholar
- (2014) Auctions for social lending: A theoretical analysis. Games Econom. Behav. 86:367–391.Crossref, Google Scholar
- (2017) Bidding for multiple keywords in sponsored search advertising: Keyword categories and match types. Inform. Systems Res. 28(4):711–722.Link, Google Scholar
- (2009) Informational cascades and software adoption on the Internet: An empirical investigation. Management Inform. Systems Quart. 33(1):23–48.Crossref, Google Scholar
- (2012) Trust and credit: The role of appearance in peer-to-peer lending. Rev. Financial Stud. 25(8):2455–2484.Crossref, Google Scholar
- (2009) Sniping and squatting in auction markets. Amer. Econom. J. Microeconom. 1(2):68–94.Crossref, Google Scholar
- Fast Invest (2017) This is how P2P lending compares to other investment options. Fast Invest (November 17), https://www.fastinvest.com/en/blog/this-is-how-p2p-lending-compares-to-other-investment-options.Google Scholar
- (2017) The information value of online social networks: Lessons from peer-to-peer lending. Internat. J. Industry Organ. 51:185–222.Crossref, Google Scholar
- (2021) Crowds, lending, machines, and bias. Inform. Systems Res. 32(1):72–92.Link, Google Scholar
- (2017) The 4 best P2P lending platforms for investors in 2017—Detailed analysis. Forbes (January 29), https://www.forbes.com/sites/oliviergarret/2017/01/29/the-4-best-p2p-lending-platforms-for-investors-in-2017-detailed-analysis/.Google Scholar
- (2010) On evaluating information revelation policies in procurement auctions: A Markov decision process approach. Inform. Systems Res. 21(1):15–36.Link, Google Scholar
- (2017) Squatting, sniping, and online strategy: Analyzing early and late bidding in eBay auctions. Working paper, Yale University, New Haven, CT.Google Scholar
- (2011a) Strategic herding behavior in peer-to-peer loan auctions. J. Interactive Marketing 25(1):27–36.Crossref, Google Scholar
- (2011b) Tell me a good story and I may lend you money: The role of narratives in peer-to-peer lending decisions. J. Marketing Res. 48(SPL):S138–S149.Crossref, Google Scholar
- (2017) Adverse incentives in crowdfunding. Manage. Sci. 63(3):587–608.Link, Google Scholar
- (2016) Screening peers softly: Inferring the quality of small borrowers. Management Sci. 62(6):1554–1577.Link, Google Scholar
- (2018) Investor platform choice: Herding, platform attributes, and regulations. J. Management Inform. Systems 35(1):86–116.Crossref, Google Scholar
- (2020) When online lending meets real estate: Examining investment decisions in lending-based real estate crowdfunding. Inform. Systems Res. 31(3):715–730.Link, Google Scholar
- (2021) What’s in a ‘username’? Examining the effect of perceived anonymity on herding in crowdfunding. Inform. Systems Res., ePub ahead of print, https://doi.org/10.1287/isre.2021.1049.Link, Google Scholar
- (1985) Network externalities, competition, and compatibility. Amer. Econom. Rev. 75(3):424–440.Google Scholar
- (2021) Signaling in online credit markets. Working paper, University of California at Berkeley, Berkeley.Google Scholar
- (2016) Home bias in online investments: An empirical study of an online crowdfunding market. Management Sci. 62(5):1393–1414.Link, Google Scholar
- (2013) Judging borrowers by the company they keep: Friendship networks and information asymmetry in online peer-to-peer lending. Management Sci. 59(1):17–35.Link, Google Scholar
- (2021) Experts vs. non-experts in online crowdfunding markets. Working paper, Georgia Institute of Technology, Atlanta.Google Scholar
- (2010) Ex ante information and the design of keyword auctions. Inform. Systems Res. 21(1):133–153.Link, Google Scholar
- (2016) Exploring bidder heterogeneity in multi-channel sequential B2B auctions: Evidence from the Dutch flower auctions. Management Inform. Systems Quart. 40(3):645–662.Crossref, Google Scholar
- Morgan Stanley (2015) Can P2P lending reinvent banking? Morgan Stanley Research (June 17), https://www.morganstanley.com/ideas/p2p-marketplace-lending.Google Scholar
- (2015) Peer-to-peer crowdfunding: Information and the potential for disruption in consumer lending. Annu. Rev. Financial Econom. 7:463–482.Crossref, Google Scholar
- (1999) Herding and feedback trading by institutional and individual investors. J. Finance 54(6):2263–2295.Crossref, Google Scholar
- (2006) Late and multiple bidding in second price Internet auctions: Theory and evidence concerning different rules for ending an auction. Games Econom. Behav. 55(2):297–320.Crossref, Google Scholar
- (2011) What’s in a picture? Evidence of discrimination from Prosper.com. J. Human Resources 46(1):53–92.Crossref, Google Scholar
- (2011) Prosper groups put the social in social lending. Lend Academy (December 16), https://www.lendacademy.com/prosper-groups-put-the-social-in-social-lending/Google Scholar
- (2002) Last-minute bidding and the rules for ending second-price auctions: Evidence from eBay and Amazon auctions on the Internet. Amer. Econom. Rev. 92(4):1093–1103.Crossref, Google Scholar
- (2008) When rational sellers face nonrational buyers: Evidence from herding on eBay. Management Sci. 54(9):1624–1637.Link, Google Scholar
- (2021) How does online lending influence bankruptcy filings? Management Sci., ePub ahead of print, https://doi.org/10.1287/mnsc.2021.4045.Google Scholar
- (2017) Market mechanisms in online peer-to-peer lending. Management Sci. 63(12):4236–4257.Link, Google Scholar
- (2021) Building the momentum: Information disclosure and herding in online crowdfunding. Production Oper. Management 30(9):3213–3230.Crossref, Google Scholar
- (2020) Asymmetric information, reputation, and welfare in online credit markets. Working paper, California Institute of Technology, Pasadena.Google Scholar
- (2011) Cyclical bid adjustments in search-engine advertising. Management Sci. 57(9):1703–1719.Link, Google Scholar
- (2012) Rational herding in microloan markets. Management Sci. 58(5):892–912.Link, Google Scholar

