20 research outputs found

    An Experimental Analysis Of the Demand For Payday Loans

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    The payday loan industry is one of the fastest growing segments of the consumer financial services market in the United States. We design an environment similar to the one that payday loan customers face and then conduct a laboratory experiment to examine what effect, if any, the existence of payday loans has on individuals\u27 abilities to manage and to survive financial setbacks. Our primary objective is to examine whether access to payday loans improves or worsens the likelihood of financial survival in our experiment. We also test the degree to which people\u27s use of payday loans affects their ability to survive financially. We find that payday loans help the subjects to absorb expenditure shocks and therefore survive financially. However, subjects whose demand for payday loans exceeds a certain threshold level are at a greater risk than a corresponding subject in the treatment in which payday loans do not exist

    A Wireless MIMO Channel Probing Approach for Arbitrary Antenna Arrays

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    This paper introduces a method for experimentally probing indoor wireless channels to compute MIMO transfer function matrices, . The data is gathered using rotating transmit and receive antennas to observe the multipath ray structure of the channel. can be computed for any arbitrary transmit and receive array sizes and geometries using the single probe data set. Estimating is crucial for spacetime coding communications algorithm performance analysis. Example results are presented. 1
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