Optimizing Prices for Consumer Credit

@inproceedings{PhillipsOptimizingPF,
  title={Optimizing Prices for Consumer Credit},
  author={Robert Phillips}
}
Pricing of consumer credit was long considered to be straightforward. However, the recent financial crisis has shown that mispricing and misallocating consumer credit can have severe consequences for the global economy. For many years, risk-based pricing has been the state-ofthe art in credit pricing. In the past few years, lenders have begun to adopt pricing optimization approaches that consider customer willingness-to-pay as well as risk in setting prices for credit. In this paper, we… CONTINUE READING

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