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An Opt-Out Home Mortgage System, Michael S. Barr, Sendhil Mullainathan, Eldar Shafir
An Opt-Out Home Mortgage System, Michael S. Barr, Sendhil Mullainathan, Eldar Shafir
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The current housing and financial crisis has led to significant congressional and executive action to manage the crisis and stem the harms from it, but the fundamental problems that caused the crisis remain largely unaddressed. The central features of the industrial organization of the mortgage market with its misaligned incentives, and the core psychological and behavioral phenomena that drive household financial decisionmaking remain. While the causes of the mortgage meltdown are myriad and the solutions likely to be multifaceted, a central problem that led to the crisis was that brokers and lenders offered loans that looked much less expensive and …
Comments On Parfit, Donald H. Regan
Comments On Parfit, Donald H. Regan
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I will begin by saying that I am persuaded by most of Derek's claims and arguments. That may tend to make for rather uninteresting commentary, but I shall try to find something to say. I shall offer only one criticism of the main part of Derek's paper, and then I shall discuss at somewhat greater length the questions he raises in the last section of his paper. In the main body of the paper, Derek attempts to prove that if we accept what he calls the Complex View of personal identity, then we must abandon what he calls the Equal …