CSpace  > 系统科学研究所
Platform Competition in Peer-to-Peer Lending Considering Risk Control Ability
Liu, He1,2; Qiao, Han1; Wang, Shouyang1,2; Li, Yuze1
2019-04-01
Source PublicationEUROPEAN JOURNAL OF OPERATIONAL RESEARCH
ISSN0377-2217
Volume274Issue:1Pages:280-290
AbstractAs 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.
KeywordE-commerce Peer-to-peer (P2P) lending Risk control ability Two-sided markets game theory
DOI10.1016/j.ejor.2018.09.024
Language英语
Funding ProjectGeneral 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 Research AreaBusiness & Economics ; Operations Research & Management Science
WOS SubjectManagement ; Operations Research & Management Science
WOS IDWOS:000456904600020
PublisherELSEVIER SCIENCE BV
Citation statistics
Document Type期刊论文
Identifierhttp://ir.amss.ac.cn/handle/2S8OKBNM/32267
Collection系统科学研究所
Corresponding AuthorQiao, Han
Affiliation1.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
Recommended Citation
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.
Files in This Item:
There are no files associated with this item.
Related Services
Recommend this item
Bookmark
Usage statistics
Export to Endnote
Google Scholar
Similar articles in Google Scholar
[Liu, He]'s Articles
[Qiao, Han]'s Articles
[Wang, Shouyang]'s Articles
Baidu academic
Similar articles in Baidu academic
[Liu, He]'s Articles
[Qiao, Han]'s Articles
[Wang, Shouyang]'s Articles
Bing Scholar
Similar articles in Bing Scholar
[Liu, He]'s Articles
[Qiao, Han]'s Articles
[Wang, Shouyang]'s Articles
Terms of Use
No data!
Social Bookmark/Share
All comments (0)
No comment.
 

Items in the repository are protected by copyright, with all rights reserved, unless otherwise indicated.