中国科学院机构知识库网格
Chinese Academy of Sciences Institutional Repositories Grid
首页 机构 成果 学者
  
  1. CAS IR Grid
  2. 数学与系统科学研究院
  3. 中国科学院数学与系统科学研究院
  4. 系统科学研究所
Platform Competition in Peer-to-Peer Lending Considering Risk Control Ability

文献类型：期刊论文

作者Liu, He1,2; Qiao, Han1; Wang, Shouyang1,2; Li, Yuze1
刊名EUROPEAN JOURNAL OF OPERATIONAL RESEARCH
出版日期2019-04-01
卷号274期号:1页码:280-290
关键词E-commerce Peer-to-peer (P2P) lending Risk control ability Two-sided markets game theory
ISSN号0377-2217
DOI10.1016/j.ejor.2018.09.024
英文摘要As a new e-commerce phenomenon in financing, peer to peer (P2P) lending has received increased attention recently. For P2P lending platforms, risk control ability (i.e., the ability to accurately assess and screen borrowers to control the credit risk of loans) is a competitive differentiator. The paper models a three-stage game to investigate optimal risk control ability and corresponding optimal prices of P2P lending platforms under different tariffs and agents' homing choices. Risk-price coefficients for lenders and borrowers are introduced to measure the impact of risk control ability on prices, where higher risk-price coefficients indicate that prices are more sensitive to risk control ability. Moreover, the paper investigates the role of platforms' scales in deciding optimal risk control ability, prices and market shares. To our best knowledge, this is the first theoretical paper to study the competition in P2P lending considering risk control ability based on game theory. The analytical results show that: 1) In equilibrium, optimal risk control ability decreases in risk-price coefficients; 2) The risk-price coefficient for lenders contributes less than that for borrowers to optimal risk control ability if some lenders multi-home; 3) Smaller platforms have higher risk control ability, prices and attract more borrowers than larger platforms under specific conditions. (C) 2018 Elsevier B.V. All rights reserved.
资助项目General Program of National Natural Science Foundation of China[71872171] ; General Program of National Natural Science Foundation of China[71373262] ; Major Research Plan of National Natural Science Foundation of China[71390330] ; Major Research Plan of National Natural Science Foundation of China[71390331]
WOS研究方向Business & Economics ; Operations Research & Management Science
语种英语
WOS记录号WOS:000456904600020
出版者ELSEVIER SCIENCE BV
源URL[http://ir.amss.ac.cn/handle/2S8OKBNM/32266]  
专题系统科学研究所
通讯作者Qiao, Han
作者单位1.Univ Chinese Acad Sci, Sch Econ & Management, 80 Zhongguancun East Rd, Beijing 100190, Peoples R China
2.Chinese Acad Sci, Acad Math & Syst Sci, 55 Zhongguancun East Rd, Beijing 100190, Peoples R China
推荐引用方式
GB/T 7714		 Liu, He,Qiao, Han,Wang, Shouyang,et al. Platform Competition in Peer-to-Peer Lending Considering Risk Control Ability[J]. EUROPEAN JOURNAL OF OPERATIONAL RESEARCH,2019,274(1):280-290.
APA Liu, He,Qiao, Han,Wang, Shouyang,&Li, Yuze.(2019).Platform Competition in Peer-to-Peer Lending Considering Risk Control Ability.EUROPEAN JOURNAL OF OPERATIONAL RESEARCH,274(1),280-290.
MLA Liu, He,et al."Platform Competition in Peer-to-Peer Lending Considering Risk Control Ability".EUROPEAN JOURNAL OF OPERATIONAL RESEARCH 274.1(2019):280-290.

入库方式： OAI收割

来源：数学与系统科学研究院

浏览0
下载0
收藏0
其他版本

除非特别说明，本系统中所有内容都受版权保护，并保留所有权利。