Misaligned mindsets between borrowers and lenders of small interpersonal loans

Coby Morvinski, Yaniv Shani

Research output: Contribution to journalArticlepeer-review

2 Scopus citations


In a series of six experiments, conducted in both field and laboratory settings, we demonstrate in the context of small interpersonal loans between friends, that individuals operate under different mindsets depending on their role in the loan (lender vs. borrower), which consequently leads to misaligned repayment expectations. Lenders, operating under a communal mindset, do not expect borrowers to repay small amounts that borrowers, operating under an exchange mindset, intend to repay. We show that the two-mindset hypothesis is both state- and trait-dependent and discuss how the observed repayment expectation gap may explain why many small interpersonal debts remain unpaid. We also discuss the contribution to social and economics literature, implications for interpersonal relationships, and directions for future research.

Original languageEnglish
Article number104117
JournalOrganizational Behavior and Human Decision Processes
StatePublished - 1 Mar 2022


  • Communal mindset
  • Exchange mindset
  • Interpersonal loans
  • Money market
  • Social market

ASJC Scopus subject areas

  • Applied Psychology
  • Organizational Behavior and Human Resource Management


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