Abstract
Consumer over-indebtedness is a growing phenomenon in EU countries. Legislation addressing debt solutions for consumers does not have a long tradition in Italy. In 2012 Italy defined debt settlement procedures to reduce the impact of over-indebtedness. We build a disequilibrium agent-based model (abm), populated by heterogeneous consumers who behave according to boundedly rational behavioral rules. Through abm model, it will be possible to test the effects of this regulatory framework on the credit market, wealth distribution, and savings. In particular, the probability by means the local Tribunal accepts the consumer plan has an important role to balance between the need to provide an appropriate solution for enabling over-indebted individuals to start over with their lives, on one hand, and economic efficiency that debts should be paid.
Sign-in/Register to access full text options 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callMore From: International Journal of Business and Social Science Research
Disclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
