Economics lab: an intensive course in experimental economics
In: Routledge advances in experimental and computable economics
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In: Routledge advances in experimental and computable economics
In: The journal of development studies: JDS, Volume 50, Issue 2, p. 276-287
ISSN: 0022-0388
World Affairs Online
In: The journal of development studies, Volume 50, Issue 2, p. 276-287
ISSN: 1743-9140
This paper reports the results of an experiment testing a fundamental assumption in Stiglitz and Weiss' (1981) model of credit rationing: that defaulting borrowers are associated with investment in risky projects. Through an artefactual field experiment with 200 Bolivian microfinance borrowers, we observe that subjects from real-world delinquent borrowing groups do not prefer risky projects to safer ones significantly more than subjects from repaying groups. Instead, our results support more recent behavioural theories of credit market failure. Implications are that defaulting microfinance borrowers may be those who take too little investment risk rather than those who take too much. Adapted from the source document.
In: The journal of development studies, Volume 50, Issue 2, p. 276-287
ISSN: 1743-9140
In: UNSW Australian School of Business Research Paper No. 2013-10
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Working paper
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Working paper
In: The economic journal: the journal of the Royal Economic Society, Volume 117, Issue 517, p. F85-F106
ISSN: 1468-0297
In: World development: the multi-disciplinary international journal devoted to the study and promotion of world development, Volume 94, p. 90-105
In: UNSW Economics Working Paper 2022-06
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In: UNSW Business School Research Paper, Forthcoming
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In: CESifo Seminar Ser.
In: CESifo Seminar Series