We wanted to thank Ted Janger and Susan Block-Lieb for taking the time to guest blog here on Credit Slips. In their third post on the Myth of the Rational Borrower, they did something we need to do more of–use more figures. Their graphs and charts well illustrated their point. We actually looked like a web site when that post was at the top! The blog is run by academics whose disciplines value words over figures, but we’ll maybe try to break out the crayons and draw a few pictures.

We sincerely appreciate Ted and Susan’s contributions. Their work raises serious questions about the applicability of the "rational actor" model of decision making for consumer credit purchasing decisions, and it was great to hear the projects they currently have underway.