This description of (individual / personal) "strategic default" is interesting, maybe because it strikes me as a theoretical approach that is extremely rarely e

This description of (individual / personal) "strategic default" is interesting, maybe because it strikes me as a theoretical approach that is extremely rarely employed in real life. Corporations can and do consider bankruptcy a rational option under various circumstances, but -- maybe for a mix of cultural and legal reasons -- for individuals, there's a stigma, a sense of shame and failure, and it's viewed as a desperate measure of last resort. I know, citation needed...