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There exists the cognitive bias of myopia among consumers,in which consumers tend to make excessive consumption.Liquidity constraint and delivery pain can serve as two commitment techniques for preventing consumers from over-consuming.The products of credit card can allow consumers to consume on the spot and pay off in delay,ruining totally the effect of self-committed technique of consumers,which makes over-consumption more often and undermines the welfare of consumers.It is necessary that government should make proper intervention and standardize advertising and credit card issuing,aiming to help consumers to avoid credit defaulting as well as financial crisis.
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