The pawn shop—once a somewhat shady last resort to hawk jewelry for quick cash—has evolved into a viable alternative for families with bad credit under economic stress.
“Pawn shops are seen as more legitimate now,” says Paige Marta Skiba, associate professor of law at Vanderbilt University Law School.
Pawn shops, Skiba says, are “essentially … the more efficient Craig’s List.”
Full story at Futurity.
More research news from top universities.