I am an economist researching topics on household finance, choice and preferences. I am a Senior Lecturer in Economics at Exeter University Business School, and a research fellow at the Centre for Decision Research and Experimental Economics (CeDEx) and the Network for Integrated Behavioural Science (NIBS). Before joining Exeter, I was a Postdoctoral Research Fellow at the University of Nottingham School of Economics, where I also completed my PhD.
My research interests are in consumer decision making and lie at the intersection of economics and finance. My work is motivated by behavioural insights and policy questions and strives to understand how and why consumers make financial choices. I use a portfolio of methodological approaches to yield credible answers into causal mechanisms, including micro-econometrics, machine learning and experimental methods. In particular, I study how consumer preferences and behavioural biases affect choices and behaviour in field data, surveys and laboratory studies.
Qualifications
PhD in Economics (Nottingham), MSc Behavioural Economics (Nottingham)
Links
Key publications | Publications by category | Publications by year
Key publications
Gathergood J, Mahoney N, Stewart N, Weber J (2019). How Do Individuals Repay Their Debt? the Balance-Matching Heuristic.
American Economic Review,
109(3), 844-875.
Abstract:
How Do Individuals Repay Their Debt? the Balance-Matching Heuristic
We study how individuals repay their debt using linked data on multiple credit cards. Repayments are not allocated to the higher interest rate card, which would minimize the cost of borrowing. Moreover, the degree of misallocation is invariant to the economic stakes, which is inconsistent with optimization frictions. Instead, we show that repayments are consistent with a balance-matching heuristic under which the share of repayments on each card is matched to the share of balances on each card. Balance matching captures more than half of the predictable variation in repayments and is highly persistent within individuals over time. (JEL D14, D15, D91, G41)
Abstract.
DOI.
Publications by category
Journal articles
Weber J, Gathergood J, Sakaguchi H, Stewart N (2020). How Do Consumers Avoid Penalty Fees? Evidence from Credit Cards.
Management Science,
N/A, N/A-N/A.
DOI.
Gathergood J, Mahoney N, Stewart N, Weber J (2019). How Do Individuals Repay Their Debt? the Balance-Matching Heuristic.
American Economic Review,
109(3), 844-875.
Abstract:
How Do Individuals Repay Their Debt? the Balance-Matching Heuristic
We study how individuals repay their debt using linked data on multiple credit cards. Repayments are not allocated to the higher interest rate card, which would minimize the cost of borrowing. Moreover, the degree of misallocation is invariant to the economic stakes, which is inconsistent with optimization frictions. Instead, we show that repayments are consistent with a balance-matching heuristic under which the share of repayments on each card is matched to the share of balances on each card. Balance matching captures more than half of the predictable variation in repayments and is highly persistent within individuals over time. (JEL D14, D15, D91, G41)
Abstract.
DOI.
Gathergood J, Mahoney N, Stewart N, Weber J (2019). How do Americans repay their debt? the balance-matching heuristic. Economics Bulletin, 39(2)
Gathergood J, Weber J (2017). Financial literacy, present bias and alternative mortgage products.
Journal of Banking & Finance,
78, 58-83.
DOI.
Gathergood J, Weber J (2017). Financial literacy: a barrier to home ownership for the young?.
Journal of Urban Economics,
99, 62-78.
DOI.
DISNEY R, GATHERGOOD J, WEBER J (2015). Credit counseling: a substitute for consumer financial literacy?.
Journal of Pension Economics and Finance,
14(4), 466-491.
Abstract:
Credit counseling: a substitute for consumer financial literacy?
AbstractIs financial literacy a substitute or complement for financial advice? We analyze the decision by consumers to seek financial advice in the form of credit counseling. Credit counseling is an important component of the consumer credit sector for consumers facing debt problems. Our analysis accounts for the endogeneity of an individual's financial situation to financial literacy, and the endogeneity of financial literacy to exposure to credit counseling. Results show counseling substitutes for financial literacy. Individuals with better literacy are 60% less likely to use credit counseling. These results suggest that credit counseling provides a safety net for poor financial literacy.
Abstract.
DOI.
Gathergood J, Weber J (2014). Self-control, financial literacy & the co-holding puzzle.
Journal of Economic Behavior & Organization,
107, 455-469.
DOI.
Publications by year
2020
Weber J, Gathergood J, Sakaguchi H, Stewart N (2020). How Do Consumers Avoid Penalty Fees? Evidence from Credit Cards.
Management Science,
N/A, N/A-N/A.
DOI.
2019
Gathergood J, Mahoney N, Stewart N, Weber J (2019). How Do Individuals Repay Their Debt? the Balance-Matching Heuristic.
American Economic Review,
109(3), 844-875.
Abstract:
How Do Individuals Repay Their Debt? the Balance-Matching Heuristic
We study how individuals repay their debt using linked data on multiple credit cards. Repayments are not allocated to the higher interest rate card, which would minimize the cost of borrowing. Moreover, the degree of misallocation is invariant to the economic stakes, which is inconsistent with optimization frictions. Instead, we show that repayments are consistent with a balance-matching heuristic under which the share of repayments on each card is matched to the share of balances on each card. Balance matching captures more than half of the predictable variation in repayments and is highly persistent within individuals over time. (JEL D14, D15, D91, G41)
Abstract.
DOI.
Gathergood J, Mahoney N, Stewart N, Weber J (2019). How do Americans repay their debt? the balance-matching heuristic. Economics Bulletin, 39(2)
2017
Gathergood J, Weber J (2017). Financial literacy, present bias and alternative mortgage products.
Journal of Banking & Finance,
78, 58-83.
DOI.
Gathergood J, Weber J (2017). Financial literacy: a barrier to home ownership for the young?.
Journal of Urban Economics,
99, 62-78.
DOI.
2015
DISNEY R, GATHERGOOD J, WEBER J (2015). Credit counseling: a substitute for consumer financial literacy?.
Journal of Pension Economics and Finance,
14(4), 466-491.
Abstract:
Credit counseling: a substitute for consumer financial literacy?
AbstractIs financial literacy a substitute or complement for financial advice? We analyze the decision by consumers to seek financial advice in the form of credit counseling. Credit counseling is an important component of the consumer credit sector for consumers facing debt problems. Our analysis accounts for the endogeneity of an individual's financial situation to financial literacy, and the endogeneity of financial literacy to exposure to credit counseling. Results show counseling substitutes for financial literacy. Individuals with better literacy are 60% less likely to use credit counseling. These results suggest that credit counseling provides a safety net for poor financial literacy.
Abstract.
DOI.
2014
Gathergood J, Weber J (2014). Self-control, financial literacy & the co-holding puzzle.
Journal of Economic Behavior & Organization,
107, 455-469.
DOI.
Modules
2023/24
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