Optimal self-financing microfinance contracts when borrowers have risk aversion and limited commitment

DOI10.1016/J.JMATECO.2020.08.007MaRDI QIDQ2222211zbMATH OpenOpenAlexFDO

Authors Junichi Fujimoto, Junsang Lee

Publication date 26 January 2021

Published in Journal of Mathematical Economics (Search for Journal in Brave)

Full work available at URL https://doi.org/10.1016/j.jmateco.2020.08.007

zbMATH Keywords

social welfarelimited commitmentdynamic contractmicrofinance

Mathematics Subject Classification ID

Credit risk (91G40) Welfare economics (91B15)

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Cites work

• scientific article; zbMATH DE number 1461253 (Why is no real title available?)
• scientific article; zbMATH DE number 3238721 (Why is no real title available?)
• A Rawlsian Intertemporal Consumption Rule
• Dynamic Insurance with Private Information and Balanced Budgets
• Efficiency and equality in a simple model of efficient unemployment insurance
• Group lending, matching patterns, and the mystery of microcredit: evidence from Thailand
• Implications of Efficient Risk Sharing without Commitment
• Informal Insurance Arrangements with Limited Commitment: Theory and Evidence from Village Economies
• Is Grameen Lending Efficient? Repayment Incentives and Insurance in Village Economies
• Lagrange multipliers in incentive-constrained problems
• Lagrange multipliers in infinite horizon discrete time optimal control models
• Long-term relationships as safeguards
• On Efficient Distribution with Private Information
• Optimal cartel equilibria with imperfect monitoring
• Recursive contracts
• Toward a Theory of Discounted Repeated Games with Imperfect Monitoring
• Voluntarily Separable Repeated Prisoner's Dilemma

Cited in

(3)

• Optimal Lending Contracts and Firm Dynamics
• Strategic default, multiple installments, and the role of informal moneylender in microcredit contract
• When to seek expert advice? A simple model of borrowers with limited liability

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