The purpose of this paper is to analyze recent findings in the research on bankers' lending decision making, to merge relevant findings in psychology and economics and create a comprehensive review of the literature.
The authors used a systematic article search for empirical studies when conducting the research.
The findings are analyzed on the basis of human decision‐making research. The results of the review are three conclusions about loan officers' decision making: their dependency on bank characteristics, their decision‐making biases, and their deliberate and intuitive reasoning approaches.
The paper's findings are important, both as a summary of the literature on lending decision making and also as a foundation for future research.
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