A new study has found that people who invoke the name of God when applying for a loan are actually less likely to pay back the money.
The study was conducted by Oded Netzer and Alain Lemaire from Columbia University and Michal Herzenstein from the University of Delaware, according to Relevant.
The researchers looked at a number of factors involving repayment of loans, but one especially interesting conclusion was that those who mention the name of God when applying for a loan are more likely to default on that loan.
New York Magazine describes how the research was conducted: “The scholars used data from Prosper, a peer-to-peer lending site. Potential borrowers write a brief description of why they need a loan and why they are likely to make good on it, and potential lenders decide whether to provide them the money. Overall, about 13 percent of borrowers defaulted on their loan.”
Those who defaulted tended to mention a number of key words or phrases, including “God,” “promise,” “will pay,” “thank you,” and “hospital.”
Reasons the researchers gave for why these words correlated to defaulting on loan repayment were that these words often imply financial desperation as in the phrase, “I swear to God, I’ll pay you back.”
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Publication date: May 17, 2017