主办单位

中国人民大学应用经济学院

主讲嘉宾

秦雨

新加坡国立大学商学院 长聘副教授

参编期刊

China Economic Review共同主编

Journal of Economic Behavior & Organization副主编

Journal of Economic Geography编委会委员

会议信息

时间

2022年9月22日（周四）

北京时间15:00-16:30

主持人

应用经济学院 秦萍

线上地点

腾讯会议：747-479-587

会议链接:

https://meeting.tencent.com/dm/Yi8YswolSXs1

主讲人简介

秦雨，康奈尔大学应用经济学博士，现为新加坡国立大学商学院副教授，研究方向为交通、环境经济学、土地和住房市场。担任 China Economic Review共同主编、Journal of Economic Behavior & Organization副主编、Journal of Economic Geography编委会委员。近年来在Nature Climate Change, Nature Human Behaviour, Journal of Environmental Economics and Management, Review of Finance, Journal of Public Economics, Journal of Labor Economics等期刊发表文章。

讲座题目

THE SUNSHINE EFFECTS ON SOLAR LOAN REPAYMENTS

讲座摘要

Solar loans are increasingly used to promote residential solar photovoltaic expansion. However, a critical problem with financing residential solar energy is the high default rate. This paper studies the psychological effects of sunshine on borrowers’ repayment behaviors. Using administrative datasets from China, we show that borrowers are 20.8 percent less likely to be delinquent if the sunshine duration is one standard deviation longer in the week of repayment deadline. The evidence is most consistent with behavioral bias that borrowers mispredict future revenue based on the current weather conditions. Other explanations such as intertemporal substitution, liquidity constraints, strategic default, or moods are less consistent with the evidence. Furthermore, borrowers partially learn from past experiences. We highlight the importance of psychological factors in loan design, particularly in the renewable energy sector.