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This article evaluates the impact of Truth in Lending (TIL) disclosures on consumer search and credit usage behavior, and how the effects vary by market segment. Consumer behavior concepts were used to guide the development of a comprehensive model of the consumer credit decision process, which specified the intervening effects of TIL and the situational constraints which tended to limit the use of TIL information.
Day et al. (Sat,) studied this question.