This study attempts to identify the characteristics and behavioral features of student borrowers, and to investigate how well individual investors incorporate the uniqueness of these borrowers in their funding decisions. We find that student borrowers are distinct from other types of borrowers, not only with respect to factors that existed prior to joining the market, but also in terms of information generated during loan requests, subsequent cancellation behavior, repayment performance, and even in the composition and predictive accuracy of loan repayment models. However, individual investors are not fully aware of the unique attributes of student borrowers in their funding decisions.

中文翻译：

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学生借款人的显着特征和次优的投资者决策：P2P贷款市场的证据

这项研究试图确定学生借款人的特征和行为特征，并调查个人投资者如何将这些借款人的独特性纳入其融资决策。我们发现，学生借款人与其他类型的借款人不同，不仅在加入市场之前存在的因素方面，而且在贷款请求期间产生的信息，随后的取消行为，还款表现乃至组成方面和贷款还款模型的预测准确性。但是，个人投资者在资助决策中并不完全了解学生借款人的独特属性。