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Media type:
E-Article
Title:
Psychophysics of Consumer’s Sequence Preference of E-commerce Loan Repayments
Contributor:
Lu, Yang;
Li, Yaning
Published:
IOP Publishing, 2019
Published in:
Journal of Physics: Conference Series, 1302 (2019) 4, Seite 042025
Language:
Not determined
DOI:
10.1088/1742-6596/1302/4/042025
ISSN:
1742-6588;
1742-6596
Origination:
Footnote:
Description:
<jats:title>Abstract</jats:title>
<jats:p>As E-commerce shopping has been growing rapidly in China, many consumers use loans to make a purchase, and then payoff the loan by installments. Recently studies show that all amortizing loans can be viewed a sequence of payments, and consumers prefer a decreasing sequence for a car loan. In this paper, we investigated consumers’ preference of payment sequence for a less valued online purchased commodity, a smart phone. Results show consumers prefer constant sequence over decreasing sequence, indicating that consumers have unique perception of sequence for a smaller amount and shorter term loan, and they may choose constant sequence for convenience. E-commerce credit provider shall stick with the constant repayment plan.</jats:p>