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Peer-to-Peer Crowdfunding: Information and the Potential for Disruption in Consumer Lending
Social Science Research Network
Can peer-to-peer lending (P2P) crowdfunding disintermediate and mitigate information frictions in lending such that choices and outcomes for at least some borrowers and investors are improved? I offer a framing of issues and survey the nascent literature on P2P. On the investor side, P2P disintermediates an asset class of consumer loans, and investors seem to capture some rents associated with the removal of the cost of that financial intermediation. Risk and portfolio choice questions lingerdoi:10.2139/ssrn.2551272 fatcat:gabznispz5fq5kjago7o6b4gh4