英文文献：A Comparison Of Option-Theoretic And Choice-Theoretic Approaches To Evaluating Alternative Financial Technologies For Mortgage Loans To Low-Income Households-选择理论和选择理论方法对低收入家庭抵押贷款替代金融技术评价的比较
英文文献作者：Hartarska, Valentina M.,Gonzalez-Vega, Claudio
英文文献摘要：
This paper evaluates the efficacy of two alternative lending technologies - the traditional banking technology and a cash flow based counseling program - by using competing risks (option-based) and choice theoretic approaches. We find evidence to support the notion that low-income borrowers have some degree of financial sophistication, as they prepay the mortgage loan by considering the current value of the call option. The evidence also suggests that borrower heterogeneity and insolvency affect mortgage termination.

本文利用竞争风险(基于选择)和选择理论的方法，评估了传统银行技术和基于现金流的咨询方案这两种可供选择的贷款技术的有效性。我们发现证据支持低收入借款人有一定程度的金融复杂性的概念，因为他们提前支付抵押贷款考虑当前价值的看涨期权。证据还表明，借款人异质性和资不抵债影响抵押终止。